Cyprus Permanent Residency

The Ministry of Interior of the Republic of Cyprus released an effective procedure for providing an immigration permit to third-country nationals that mean to take up permanent residency in Cyprus

Investments Options

  • Investment in a new immovable property.
  • Investment Amount
  • Acquisition of new immovable property with a minimum price of EUR300.000 + VAT.
  • Application Criteria

The application form must be provided along with a title deed or a contract of sale that has already been offered to the Department of Lands and Surveys, for the acquisition of a residential property, apartment or any other building located in Cyprus of a minimal amount price of EUR300.000 + VAT.
It is required a proof stating that the amount used for the purchase has been transferred from abroad.

  • Proof of payment of at a minimum of EUR200.000 + VAT towards the acquisition price for the property.
  • Proof of a guaranteed yearly income of at least EUR30.000 coming from abroad. Also, an income of EUR5.000 for every additional kid and EUR8.000 for each dependent parent should be proven.
  • A Minimum capital required of EUR30.000 from abroad deposited in an account in a Cyprus Bank and pledged for at least three years.
  • Clean criminal record.

Who is Eligible:

Any investor who is 18 years old and above.
The spouse and children of the applicant.
Parents of the applicant of the immigration permit and the parents of his or her spouse.
The candidates must visit Cyprus once every two years along with his/her dependents who enjoy the residency to preserve this right.

The Processing time

All applications for Permanent Residency by purchasing a new home at the price of EUR300.000 + VAT are authorized throughout a period of 3 months under the fast-track method. Once the form is approved, a Permanent Residency permit is offered to the applicant and his or her family members.

Main Advantages of having a Permanent Residency in Cyprus:

  • Immigration Permit provides you with the right to reside in Cyprus permanently.
  • Spared from time-consuming immigration procedures that apply to non-EU nationals entering Cyprus (i.e., Visitor’s Visa).
  • Family Members can also obtain permanent residency.
  • Dependants of investor can be registered in high-quality private schools, offering studies in the English Language.

 

* Note: Please keep in mind that requirements and conditions may change at any time. Therefore, before the submission of a Cyprus Citizenship acquirement application, it is advisable to contact us for any updates to the requirements.