Cyprus Permanent Residency
Cyprus Permanent Residency offers a pathway to EU residency and visa-free travel throughout the Schengen Area. With a minimum €300,000 investment in real estate, shares, or funds, you and your family can qualify. After five years of residency, you may be eligible to apply for Cypriot citizenship.
Cyprus Permanent Residency Benefits
Residency and Family Inclusion
- Direct access to Permanent Residence in Cyprus.
- EU Member.
- No language requirements.
- No education or management experience required.
Dependents include:
- Spouse.
- Dependent children up to 25 years old
Travel and Quality of Life
- Right to live and study in Cyprus.
- Cyprus Permanent Resident may be granted Multiple-Entry Schengen visa valid for up to 5 years.
Ease of Access
- Pathway to apply for Cyprus (EU) citizenship after an aggregate total of 5 years of continuous residence in Cyprus within an 8-year period.
Cyprus Permanent Residency Requirements
- Invest at least EUR 300,000 in real estate properties located in Cyprus.
- Provide evidence of a secured annual income of at least EUR 30,000 sourced from outside Cyprus.
- Additional secured income requirements apply in case the dependent spouse, children, and parents are included in the application.
- Clear criminal record, good health.
- Visit Cyprus every 2 years (no minimum residency requirements).
Cyprus Residency Investment Visa Options
The New House Or Apartment Option
Investment in a new house/apartment with a minimum total value of €300.000 plus tax.
The Commercial Real Estate Option
Investment in commercial real estate new or resale (excluding houses/apartments with a minimum total value of €300.000.
The Share Capital Option
Investment of 300,000 EUR in the share capital of a Cyprus Company with activities and staff in Cyprus.
The Collective Investment Option
Investment 300,000 EUR in units of a Cyprus Collective Investment Organization (type AIF, AIFLNP, RAIF).
Cyprus Permanent Residency Process
Processing time 6-9 Months
Due Diligence And Application
Applicant must travel to Cyprus to provide biometrics.
Approval And Investment
Submit the completed application forms and required documents.
Residency
The Civil Registry and Migration Department of Cyprus will grant successful applicants with the Cypriot Permanent Residence status.
Contact us
With over 30 years of immigration experience, each of Harvey Law Group’s lawyers carefully studies each client’s needs, resources and determines the immigration solution that best aligns with our client’s vision and values.
Frequently Asked Questions
What is the Cyprus Permanent Residence Program?
The Cyprus Permanent Residence Program (PR Program) offers eligible individuals and their families the opportunity to obtain a permanent residence permit upon making a qualifying investment in Cyprus.
What are the investment categories for the Cyprus Permanent Residence Program?
Qualifying investments for the Cyprus PR program include purchasing up to 2 new residential properties, purchasing up to 2 new or used non-residential properties, investing in the share capital of a physical company in Cyprus, or investing in units of a Cyprus Collective Investment Organization.
Who is eligible to apply for residency under the Cyprus Permanent Residence Program?
Applicants must be over 18, have a clean criminal record, and invest in qualifying options to be eligible for Cyprus residency.
Who qualifies as a dependent on the Cyprus residency application?
Dependents are eligible for inclusion in the residency application are the spouse, children under 18, or up to 25 if they are full-time students.
What are the benefits of obtaining residency in Cyprus?
Cyprus residency offers indefinite living rights, access to healthcare and education, and potential for Cyprus (EU) citizenship after 7 years, under certain conditions.
What is the typical processing time for a residency application in Cyprus?
The processing time of the Cyprus Permanent Residency Program is approximately 6-9 months.
Is travel to or residence in Cyprus required as part of the Cyprus residency application process?
Applicants must travel to Cyprus at least once for biometric data collection and visit every 2 years to maintain their residency permit.
Do applicants need to disclose the source of funds for their investment?
Applicants must demonstrate financial capability to invest in Cyprus, with documentation varying based on the source of investment funds.
What is the process for obtaining residency in Cyprus?
The Cyprus residency application process includes signing agreements, depositing initial funds, selecting qualifying properties, submitting applications, and providing biometrics in Cyprus.
Can I sponsor my non-EU spouse or child for a Cyprus residence by investment Program?
The main applicant can sponsor their legally married spouse and dependent children for Cyprus residency, with conditions for older children dependent on their student status.
Is there a Cypriot citizenship by investment program ?
No, there is no longer a Cypriot citizenship by investment program available. The program was suspended in November 2020
However, Cyprus does offer a permanent residency program with a fast-track option for those who invest in property. This program grants residency, not citizenship, but it can be a stepping stone to eventual citizenship through the standard naturalization process.