Cyprus

What Is The Cyprus Permanent Residency Program

The Cyprus Permanent Residence Program offers eligible individuals and their families the opportunity to reside indefinitely in Cyprus in exchange of an investment of at least EUR 300,000.

The Benefits

Residency and Family Inclusion

  • Direct access to Permanent Residence in Cyprus.
  • EU Member.

Dependents included:

  • 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.

Requirements

  • Pathway to apply for Cyprus (EU) citizenship after an aggregate total of 5 years of continuous residence in Cyprus within an 8-year period.
  • No language requirements.
  • No education or management experience required.

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    The 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).

    Investment 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).

    The Process

    Arrows process

    Due Diligence and Application

    • Initial background & eligibility checks.
    • Complete and sign Cyprus application package and arrange first visit to Cyprus with HLG.
    • First Visit Cyprus to view and purchase qualifying properties, execute application package before Cyprus lawyers.
    • Submit completed application to the Ministry of Interior and provide biometric data for residence permit.

    Approval and Investment

    Upon receiving the approval, the residence permit will be issues and can be collected by Cyprus lawyers.

    Residency

    Applicants may apply for citizenship after 5 years of continuous residency in Cyprus within the span of 8 years.

    Contact an office nearest to you

    With 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

      The Cyprus Permanent Residence Programme (“PR Programme”) offers eligible individuals and their families the opportunity to obtain a permanent Residence Permit to reside indefinitely in Cyprus.

      B.1 The applicant must invest at least €300.000 in one of the following investment categories: B.1 Investment in a new house/apartment: The applicant may purchase up to two (2) housing units (apartments or houses), provided that the total market value amounts to €300.000 (plus VAT). The said purchase must relate to dwellings sold by land development company(ies) for the first time (not resales), unless the purchase of the dwellings took place before 07/05/2013. The minimum amount of €200.000 (excluding V.A.T.) should be paid in advance, with the rest to be paid at a later stage. This amount must be transferred to Cyprus from abroad and should not be a product of internal borrowing. The funds need to be deposited in a financial institution in Cyprus in the vendor’s bank account. It should be noted that the purchase of real estate can be made by an entity in which the applicant and/or his spouse are the sole shareholders, and which entity is legally established in the Republic of Cyprus or in another Member State of the European Union or the European Economic Area.

       

      OR B.2 Investment in commercial real estate new or resale (excluding houses/apartments): Purchase of other types of real estate, such as offices, shops, hotels or similar developments, or a combination thereof with a minimum total value of €300.000.

       

      OR B.3 Investment in the share capital of a Cyprus Company with activities and staff in Cyprus: An investment of minimum €300.000 in the share capital of a company registered in the Republic of Cyprus, which is based and operating in the Republic of Cyprus, having a proven physical presence in Cyprus and employing at least five (5) people.

       

      OR B.4 Investment in units of a Cyprus Collective Investment Organization (type AIF, AIFLNP, RAIF): An investment of minimum €300.000 in units of a Cyprus Collective Investment Organization.

       

      Note: It is understood that any alienation of the holder of the Residence Permit from the investment made without its immediate replacement with another of the same or greater value, which must meet the conditions set out in the present procedure, will entail the activation of the procedure for the cancellation of the Residence Permit based on the provisions of Regulation 6 of the Aliens and Immigration Regulations.

       

      Conditions

      • Applicant must provide evidence of a secured annual income of at least EUR 30,000 sourced from outside Cyprus, plus an additional EUR 5,000 per dependent and EUR 8,000 per parent included on the application.
      • Applicant and dependents must declare intention not to work in Cyprus.
      • Applicant and/or spouse may be shareholder in a Cyprus-registered company and receive income from the dividends of the company.
      • 1 visit to Cyprus every 2 years (no minimum stay).
      • Clean criminal record.
      • Medical insurance for applicant and family.

       

      Processing, due diligence, and government fees are additional, and excluded from the cited investment amounts above. Please use the most updated Cyprus fee table for a more comprehensive and customizable quote.

      To qualify for residency, the primary applicant must be over 18 years old, of good character, without
      a criminal record, and make an investment in one of the qualifying investment options.

      • Spouse of the main applicant.
      • Dependent children of the main applicant or spouse up to 25 years old (proof of full-time attendance at a recognized educational institution required for children between 18-25 years old).
      • Parents of the main applicant/spouse.

      The Cyprus Residence Permit is valid indefinitely and provides access to high-quality and affordable
      Cypriot healthcare and education.

      It also gives the opportunity to apply for Cyprus (EU) citizenship after an aggregate total of 5 years of
      continuous residence in Cyprus within an 8-year period, provided that prior to the date of submission
      of the Citizenship application they have been staying in Cyprus for twelve (12) consecutive months.

      Cyprus offers an attractive tax regime including no capital gains from the sale of shares or transfer of
      assets, no withholding tax on dividends and interest paid to non-residents, no inheritance tax, and
      one of the lowest corporate tax rates in Europe at 12.5%. Applicants can discuss their tax
      considerations with HLG’s Managing Partners.

      The processing time is approximately 4 months.

      Yes, the applicant is required to travel to Cyprus at least once to provide biometric data for the Residence Permit. The applicant is required to visit Cyprus once every 2 years (no minimum stay).

      Yes, applicants are required to show that they have enough funds to make the investment. The type of documents required will vary depending on the source of the investment funds.

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