Permanent Resident Status
As a resident of Cyprus, you and your family can freely reside in the country.
Cyprus Residency by Investment Requirements
To qualify, you are required to be over 18 years of age, in good health and without a criminal record.
Additionally, you are required to deposit capital in a financial institution in Cyprus, which will be pledged for 3 years.
You are also required to make a real estate purchase and provide proof of a secure annual income for yourself and all dependents.
Who Can Apply
Main Applicant Requirements
- 18+ years of age
- Good health
- No criminal record
- Successfully pass due diligence checks
- Confirmed investment sources
- All applicants must visit Cyprus at least once every 2 years
Eligible Dependents
- Spouse of the main applicant
- Children (biological or adopted) under 28 years of age
- Dependent parents
Cyprus Residency by Investment Benefits
Health & Education
As residents, you and your family will have access to the best universities and schools, and world-class healthcare.
Tax Relief
Cyprus has one of the lowest taxation rates in Europe, with no foreign income tax, inheritance tax and withholding tax on interest earned.
Pathway to Citizenship
If requirements are met, this residency program can lead to Cypriot citizenship.
Business Opportunities
You can register a company or be a shareholder in any Cypriot company.
Dual Citizenship Permitted
Cyprus allows dual residency, permitting you to keep your existing nationality and any other residencies.
Legal Basis
Cyprus grants non-EU nationals the right to permanently reside in Cyprus with no renewal requirements. Permanent Residency is granted to third-country nationals, who apply under Regulation 6(2) of the Aliens and Immigration Regulations, provided that they fulfil the Financial Criteria.
Costs of Cyprus Permanent Residency
Applicants must prove that they have made the following investments:
Purchase or Ownership of a Residence
Minimum InvestmentEUR 300,000 + VAT
A Bank Deposit in a Cypriot Bank, Pledged for 3 Years
Minimum AmountEUR 30,000
Proof of Income
The applicant should prove a designated income for themselves and an additional amount for each dependent. An applicant may purchase up to 2 residential units (apartments or houses), or 1 residential unit and 1 shop with an area of up to 100m² or 1 residential unit and an office with an area of up to 250m². Residences or apartments may be independent of each other, but both must be sold by the same company. The property must be new (not a resale).
Minimum Income (Main Applicant)EUR 30,000
Each DependentEUR 5,000
Application Process For Cyprus Permanent Residency
The expected timeframe for the application process is 4-5 months. The first stage of the document collection can differ in length depending on the applicant's ability to gather the documents. Our team guides this process with samples and best practice advice. The reviewal stage is subject to the respective Government schedule and can be impacted by factors which we, as authorised agents have no control over. We collaborate with the Government throughout the entire process, and we aim to provide the quickest and smoothest experience for the applicant.
01
Passport pre-screening
We will pre-screen your passport copy for government pre-approval. A down payment of the professional fees is required to open your application. The response is in 24-48 hours.
02
Documents & Power of Attorney
We will provide assistance and advice with regards to the collection of the documents required in the checklist for the Cyprus Visa application. A Meeting is then set up with dedicated Attorneys in Cyprus so that a "Power of Attorney" mandate is signed in the presence of a certifying officer.
03
Cypriot bank account
We will assist in the opening of a Cypriot bank account.
04
Property selection & purchase
We will guide you to the Cypriot property that fully satisfies your requirements (€300,000) and start preparing the property purchase documentation required to be presented for the Permanent Residency application. An initial payment of at least €200,000 must be made.
05
Application filing & approval
Once the sale agreement for the purchase of your property is signed and all other relevant documents gathered, the Permanent Residency application will be filed with the Migration Department. Approval can be expected within two months, and Permanent Residency is granted provided all requirements have been met.
06
Permit collection in Cyprus
Once the Permanent Residency Permit has been granted, the applicant must visit Cyprus within one year to obtain the actual permit and passport stamps. The remaining 50% of fees are paid.
Visa-free Countries for Cyprus Residency
When you become a permanent resident of Cyprus, you can travel freely to and from Cyprus. As Cyprus is not part of the Schengen, you cannot travel freely within the Schengen area; there are exceptions for some countries, but certain conditions apply.
