Cyprus Permanent Residency by Real Estate Investment

cyprus permanent residency

Cyprus Investment Program is the most efficient way to obtain Cyprus (EU) Permanent Residency within 2 months from the date of filling the application. The fast track program to permanent residency in Cyprus is available to all non-EU nationals through a real estate investment into a new property purchased directly from a real estate developer with a minimum value of €300,000 (plus VAT).

The program is available to the investor, spouse, parents of both investor and spouse and dependent children up to the age of twenty five. The Cyprus (EU) Permanent Residency is granted indefinitely. Holders of Cyprus permanent residency permit (PRP) must visit Cyprus once every two years.

Cyprus PRP Acquisition Process

Purchase of a new residential property in Cyprus with minimum value of €300,000 (plus VAT – 19% or 5%).

Permanent residence application is submitted to the Civil Registry and Migration Department. Please note that both property purchase and application submission can be done on behalf of the investor by the authorized representative.   

Cyprus PRP is issued within 2 months of submission of the application. Successful applicants have to visit Cyprus within one year to obtain the residency permit and provide biometrics.

Additional Qualifying Criteria for Cyprus PRP 

A proof of a secured annual income in the amount of at least €30,000, originating from abroad must be provided. The amount is increased by €5,000 for each family member (spouse and children) and €8,000 for each parent of the main applicant and spouse.

Applicants should have a clean criminal record.

No language or medical exam is required.

Holders of Cyprus permanent residency permit should not be employed in Cyprus.

Benefits of Cyprus Permanent Residency 

Right to enter and permanently reside in Cyprus without entry visa requirement for life.

1-year Schengen visa can be obtained in any European Embassy in Cyprus.

Highly prestigious education in British Universities based in Cyprus.

The lowest corporate tax in Europe and excellent possibilities for international tax planning.

Top level medical facilities and high quality healthcare.

No inheritance tax.

Excellent banking facilities with worldwide networks

High level of professional services and banking.

Wonderful climate and ecology, one of the safest places in the world to live in and a multicultural environment.