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