Permanent Residency

The Cyprus Permanent Residency scheme enables non-EU nationals to invest in Cyprus (minimum real estate investment of €300,000) and acquire Permanent Resident Permits (PRP). The scheme is also applicable to the investor’s parents, dependent children (up to age 25), spouse as well as the spouse’s parents. The Permanent Residency scheme is a fast-track procedure with the permit issued typically within 2-3 months.

Key Requirements

  • Title deed or purchase agreement, in the name of the main applicant, of a residential property with a minimum market value of €300,000 +VAT (if applicable). The property must be new and purchased from a developer and the funds for the purchase must be transferred to Cyprus from abroad
  • Evidence of a minimum steady annual income from abroad of at least €30,000 which can be from any source other than employment in Cyprus. The minimum increases by €5,000 for each dependent and by €8,000 for each parent of the main applicant and/or spouse of the main applicant
  • Confirmation from a Cypriot bank of a minimum €30,000 deposit transferred from abroad and pledged for at least a three-year period
  • Declaration that the applicant does not intent to be employed in Cyprus.  PRP holders may own shares in Cyprus companies and receive dividends
  • A PRP holder must visit Cyprus at least once every two years

Permament Resident Permit Benefits

  • Freedom to live in Cyprus and travel to some EU member states
  • No requirement to live in Cyprus
  • Simple and fast procedure; two months from application to PRP issuance
  • The permits are permanent; no renewal required
  • No language, education tests or medical examinations required
  • Permanent residency for main applicant and their dependents
  • PRP holders can own a business in Cyprus
  • PRP holders have the right to apply for citizenship provided they have held PRP status and resided in Cyprus for at least seven years

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