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Cyprus Permanent Residency Program Overview

Cyprus is a member of both the European Union and the Eurozone. Holding a Cypriot Permanent Residence Permit is a significant advantage when applying for a visa in the Schengen Zone.

The program requires an individual to make a minimum investment of €300,000 (excluding VAT) in real estate in Cyprus, which can be either one or two new-build residential units or a combination of new or resale commercial properties.

A Permanent Residency Permit is valid indefinitely, provided the individual maintains ownership of their property and visits Cyprus at least once every two years. The application processing period typically lasts between 2-3 months.

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Invest

If you wish to become eligible for Permanent Residency in Cyprus, an investment of €300,000 in real estate is required.

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Ease of Travel

Individuals with Permanent Residency status in Cyprus have a great advantage when applying for a Schengen Zone visa.

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Processing Time

Successful applicants have their applications processed within 3 months.

Permanent Residency in Cyprus: Key Benefits

  • Permanent residency applies to the main applicant’s entire family, including their spouse, children under 18, as well as unmarried children under 25 who are financially dependent and enrolled in a tertiary academic institution.
  • Holders of Permanent Residency may become eligible for Cypriot Citizenship after 8 years of continued residency.
  • Unrestricted entry and stay in Cyprus, allowing permanent residents the freedom to live in Cyprus without time limitations.
  • Access to the general healthcare system, ensuring residents and their families can benefit from Cyprus’ public health services.

Cypriot Permanent Residency Criteria

  • Applicants must invest a minimum of €300,000 (excluding VAT) in one or two new-build residential units or a combination of new or resale commercial properties.
  • Applicants must prove they have a minimum annual income of €50,000, plus €15,000 for their spouse and €10,000 for each dependent child, including children up to the age of 25 if they are unmarried and financially dependent university students.
  • The income must come entirely from abroad if the investment is in residential property, but if the investment is in commercial property, part or all income can be generated and taxed in Cyprus.

Other Conditions

  • At least one visit to Cyprus every two years (no need for continuous residence in Cyprus)
  • No work/employment can be undertaken in Cyprus, under any condition. Both the investor and spouse may be unsalaried directors of such a company.

Step-by-Step Application Procedure

Qualifying Investment

Applicants must finalise their real estate investment in Cyprus before applying for Permanent Residence.

Apply for Permanent Residence in Cyprus

Applications must be submitted to the Civil Registry and Migration Department. Letters of approval are typically received within 2-3 months.

Visit Cyprus

All applicants must visit Cyprus to have their biometrics recorded.

About Cyprus

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Geography

The Republic of Cyprus is an island nation located at the crossroads of 3 continents: Europe, Asia and Africa. Its territory comprises the entirety of the Mediterranean’s third-largest island and some smaller islets, with a total area of 9,251 km².

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Population and Language

Cyprus has a population of 875,889. Although English is widely spoken by 90% of the population, the official languages are Greek and Turkish.

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Tourism

Cyprus is a very popular tourist destination with around 4 million tourists visiting annually – over 4 times its resident population.

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Education

Primary and secondary education is compulsory for Cypriot pupils until they reach the age of 15. However, almost all Cypriots proceed with higher education either in one of numerous university campuses on the island, or the United Kingdom, with a sizeable university student diaspora who return to the island after their studies.

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Health Care

The island has recently launched its own General Health System, a full-coverage, universal healthcare insurance programme that strives to provide all residents with affordable medical care.

Cyprus Factsheet

  • Continent: Europe
  • Population: 875,899
  • Government: Unitary presidential constitutional republic
  • Capital: Nicosia
  • Languages: Greek, Turkish
  • Currency: Euro (€)
  • Total area: 9,251 km²
  • Time zone: Eastern European (UTC+02:00)

Eligible Properties in Cyprus

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Napa Gem A 201 in Ayia Napa

Famagusta, Cyprus
€1050000
Property Type Bedroom Area m2 Price
Apartment 3 159.30 €1050000
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City Napa Residences Villa 1 in Ayia Napa

Famagusta, Cyprus
€1250000
Property Type Bedroom Area m2 Price
Villa 4 205 €1250000 + VAT
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FAQ

Can you obtain Cypriot citizenship through the Cyprus Residency Programme?

Yes, if an applicant successfully receives Permanent Residency status through the Cyprus Residency Programme, they can also become eligible for Cypriot citizenship following 7 years of continued permanent residency on the island.

How quickly can I obtain Cypriot Residency?

The application processing period for Cypriot Permanent Residency status takes between 1-2 months.

How safe is living in Cyprus?

Cyprus is one of the safest countries to live in the world, boasting the lowest crime rate in the European Union. Violent crimes are extremely rare, and locals would often leave their front doors unlocked if leaving their homes for a short while up until very recently.