Invest
Cyprus Permanent Residence (Fast-Track Program)
Cyprus offers a fast-track Permanent Residence Permit (PR) to non-EU nationals who invest in real estate. The program allows applicants and their families to obtain permanent residency under specific conditions.
Key Benefits
- Fast-track application process (typically 2–4 months, subject to approval times)
- Permanent residency for the whole family
- No obligation to permanently reside in Cyprus (visit required once every 2 years)
- Right to live in Cyprus without a visa
- Potential path to Cyprus citizenship through naturalization (subject to residency criteria)
- No automatic tax residency unless physically residing in Cyprus
- Cyprus is not yet part of the Schengen Zone
Eligible Family Members
- Spouse
- Children under 18 years old
- Dependent children up to 25 years old (students)
- Parents of the applicant and/or spouse (subject to additional income requirements)
Main Requirements
- Purchase of new residential property from a developer
- Minimum property value: €300,000 + VAT
- Minimum payment of €200,000 (excluding VAT) transferred from abroad
- Proof of annual income:
- €30,000 for the main applicant
- +€5,000 for each dependent (spouse/child)
- +€8,000 for each dependent parent
- Deposit of €30,000 in a Cypriot bank for a period of 3 years (subject to current regulations)
- Clean criminal record certificate from country of origin
- Confirmation that funds originate from abroad
Important Notes
- The PR permit does not grant the right to work in Cyprus
- Resale properties are not eligible under the fast-track procedure
- The permit remains valid for life provided conditions are maintained
- The applicant must visit Cyprus at least once every two years
- Government policies may be subject to change
More info could be found here.