Permanent residency

[Reyntj]

For info i just read as part of the second economic packet permanent residency will be granted to those who invest €150000 euro .

It was light on detail no doubt it will become more clear Soon.

[sophie]

Oh well, its looks as if after 16 years of having a bought and paid for home here I'll still be classified as a "Visitor". Bloody insulting.

[judyvin]

Doesn't investing that amiunt or more in your home count?

[sophie]

Shouldn't think so. They would be inundated with applications if that was the case and I don't think they want that.

[Keithcaley]

I thought that they were referring to house purchase - what other means of 'Investing Money in TRNC' is there?

Sophie - if not house purchase, what do you think that they mean?

[come_on_aylin]

When we spoke to immigration about this in February, house ownership and/or savings were accepted. Full title deeds are required, they won't accepted anything else. Shortly after we enquired there was a rumour that they were about to change it all again but then Coronavirus struck so I assume any changes have been delayed.

[waddo]

What a bargain, must rush out and invest in a government backed project of some sort, then hope I am still in the TRNC should another lock down happen so I could continue to live here. I do not think there will be a huge rush to take up any sort of offer like that myself. I already invested £120000 in a leasehold property but that does not count at all! Residency is just another tax and you know what they say about death and taxes - lol? I will continue to invest in Efes and bills and of course taxes because I love it here, warts and all! Or I could rush back to the UK and risk being one of the three dead or eleven wounded - nope!

[sophie]

KC, I thought it meant they were going down the "open a bank account with a load of dosh and show you are worthy of becoming a permanent resident" road. Lets face it, they get far more money by us trotting up to Lefkosia, pleading to let us become "visitors" for another year.

[Reyntj]

Its property nvestment

https://www.kibrishaberci.com/ikinci-ek ... -ulasildi/


8. 150 bin avroluk konut alan yabancılara sürekli ikamet izni verilmesi

Translated , Granting permanent residence permits for foreigners who purchase 150,000 euros.

Says purchase so woukd assume property. Clearlybto st ukate property market . I can see iranians and russans might be interested etc. also might help some people sell and move on

[Hector]

I like the comment by Reyntj 'also might help some people sell and move on' as that's what we intend to do. This residency visa farce has done it for us unfortunately. As for 'I can see iranians and russans might be interested etc.' what attraction is there in a permanent residency for them? The South I can see being EU. The way NC government can change the residency rules etc. at the drop of a hat doesn't inspire any confidence, to me anyway.

[waddo]

19. Giving citizenship to those who invest 2 million euros.

That flys in the face of the law they passed in 2016 which prevented anyone apart from a Cypriot being allowed to become a citizen - now they are going the same way as the South and selling not only their Olive Trees but also their citizenship. Sad really as although I always dreamed of becoming a Citizen or at a minimum having Permanent Residency as the years float past the price goes up but then the country needs the money.

I still think it is the best place to live - if you are retired of course - and do not wish to leave.