Programme Summary

Permanent Residence Program

Cyprus is strategically located in the Mediterranean and is within easy proximity of Europe, Asia and Africa. This has helped Cyprus to become a financial hub as well as a major tourist destination. With popular world class resorts such as Protaras and Ayia Napa, a long and storied historical tradition and access to world class facilities for specialized sports such as Golf and Climbing, Cyprus is considered an ideal destination for permanent residence for non-EU nationals.

Population: 1.23 million
Languages: Greek, English
Economy: Modern, Service based
Currency: Euro

Program Overview

  • Minimum investment of €300,000 under a Regulation 6(2) application and no limitation on the value under a Category F application
  • Processing time of two months (or 18 months under a Category F application)
  • The right to live and study in Cyprus

Main applicant Requirements

  1. Have no criminal record from their country of residence
  2. Provide a declaration, along with included family members, that they do not intend to be employed in Cyprus
  3. Have a Health Insurance Policy ( plan A)

To qualify for residence under Regulation 6 ( 2 ), both of the following investment requirements apply:

Choose one of the following:

  1. . Purchase up to two new immovable residential properties of a total

market value of at least €300, 000 plus VAT, with the option to purchase from two different developers

  1. . Purchase up to two new or used immovable nonresidential properties ( offices, shops, hotels, or other developments) of a total market value of at least €300 , 000 plus VAT
  2. . Invest €300 , 000 in the share capital of a physical company registered and operating in Cyprus, which employs at least f ive people
  3. . Invest €300 , 000 in units of the Cyprus Investment Funds Association’ s collective investments ( AIF, AIFLNP, RAIF)

Provide supporting evidence of a secured annual income of at least €30, 000 deriving from abroad ( an additional €5, 000 is required for each dependent spouse and adult child, and €8, 000 for each parent)

To qualify for residence under Category F, all of the following investment requirements apply:

  • Purchase new or resale immovable property with no limitation on the value
  • Open a bank account in Cyprus and deposit the amount, without any limitation
  • Provide supporting evidence of a secured annual income of at least €10, 000 derived abroad ( an additional €5, 000 is required for each dependent)

Process Overview

The government will approve citizenship within four to six months of an application submission, assuming the application has no areas of concern.

Key Benefits

The application procedure is highly efficient and can be completed within two months under Regulation 6 ( 2 ), or 18 months if applying under Category F

Dependants have access to world-class educational institutions whose teaching instructions are given in English

It is not necessary to reside in Cyprus, but a visit once every two years is required

Guarantees tax free benefits on worldwide income

Residence applies to the main applicant’ s spouse, children under 25 years, parents, and parents in- law for a Regulation 6 ( 2 ) application, and to a spouse and children under 18 years for a Category F application

May lead to Citizenship after 5 years of Permanent Residence

Application Process

Step 1

  • Carry out due diligence on prospective properties and prepare the necessary agreements.
  • Carry out the purchase of the investment property for €300, 000 inc VAT. The application can be filed if €200, 000 has already been paid.
  • Applicant declares secured income for dependents if any.
  • A bank account is opened and a fixed term deposit of  €30, 000 is made

Step 2

  • Review applicants supporting documents for the investment
  • Review applicants personal supporting documents
  • Prepare the application and supporting documents for submission.
  • Submit the application at the Civil registry and migration department

Step 3

Evaluation of application by the CRMD and confirmation of Cyprus Permanent Residency and receipt of letter of approval

Step 4

Timeframe for processing depends on the availability of the client. Biometrics are captured at the migration office in Nicosia ( depending on the client, the biometrics can be taken either before or during the application submission or after i ts approval)

Step 5

Applicant and family visit Cyprus within one year to obtain the residence permit

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