Since 2012 a total of 1,124 investors have recieved the residence permit in Cyprus, which is granted to buyers of property priced at €300,000 and above, reports ee24.com citing vkcyprus.com.
Based on available data, it can be argued that the residence permit in Cyprus is popular - less than in Latvia, where the annual turnover of the "golden visas" is measured in the thousands, but more than in Spain, where just a few dozen of buyers have got the residence permit.
According to the Head of the Department of Civil Registration and Migration of Ministry of Internal Affairs of the Republic of Cyprus Annie Shakalli, interest of foreigners to obtain a residence permit through buying property in Cyprus is growing. Sales also increased: from January to May by 20% more houses, flats and commercial premises were bought compared with the same period of 2013.