Regarding the 4th revision of the criteria for granting an Immigration Permit within the scope of the expedited procedure to applicants who are third country nationals and invest in Cyprus, which was entered in to force on 02/05/2023, the following points are clarified:
The money from abroad that will be used for the investment can also be transferred to Cyprus from a company’s bank account, in which the applicant and/or his/her spouse are the sole shareholders, provided that the shareholder is included in the application. The same applies to the amount of the investment's value to be paid into the seller's account at a Cypriot financial institution.
The annual income of the applicant can be proven either through his/her tax return declaration from the country where he/she declares tax resident or through official certificates from an independent Certified Accountant.
Regarding the monitoring mechanism for the adherence to the criteria and maintaining the investment, the requirement for annual submission of proof that the applicant maintains the income determined for him/herself and his/her family members is abolished.
The applicant and the adult members of his/her family are obliged to submit a clean criminal record certificate from their country of origin and their country of residence every three years, instead of annually. The requirement for the applicant to provide evidence of maintaining his/her investment on an annual basis, as well as the fact that the applicant and his/her family members are holders of a health insurance certificate in case they no longer continue to be beneficiaries of GESY, remains valid.
You can find more information here
17th May 2023