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Cyprus permanent residency

Minimum investmentEUR 300,000
Processing time6-9 months

Cyprus permanent residency overview

The Cyprus Permanent Residence Programme offers eligible non-EU nationals and their qualifying dependents a route to permanent residence through an investment of at least EUR 300,000. Applicants can choose from several investment options, including residential or commercial property, an investment in a Cyprus company or units in an eligible Cyprus investment fund. They must also meet the programme's annual income requirements and provide evidence of the source of the funds used for the investment. Once granted, permanent residence can be maintained without relocating to Cyprus full-time, provided the applicable conditions continue to be met.

Latest updates

  1. Cyprus government will tighten its golden visa

    The Cyprus News Agency reported that a Minister has informed the Members of Parliament that Cyprus will soon harden its golden visa rules ahead of Schengen accession.

    The ministerial statement to parliament confirms this is an active policy process rather than speculation.

    Why is this an important news: A ministerial commitment before parliament to harden Cyprus golden visa scheme before Schengen accession confirms regulatory change will be applied soon, requiring law firms to advise clients accordingly on timing and compliance.

Cyprus permanent residency benefits

  1. Permanent residence in Cyprus: Successful applicants receive permanent residence rather than a temporary residence permit requiring regular renewal.
  2. Family inclusion: The main applicant can include their legally married spouse and eligible dependent children (under 25).
  3. No minimum annual stay: Permanent residents are not required to live in Cyprus full-time, although they must visit at least once every two years to maintain their status.
  4. Right to live and study in Cyprus: Permanent residents and eligible family members can reside and study in Cyprus.
  5. Multiple investment options: Applicants can qualify through residential or commercial property, investment in a Cyprus company or an eligible investment fund.
  6. No language requirement: Applicants are not required to pass a language test to qualify for permanent residence.
  7. No education or management experience requirement: Eligibility is not dependent on an applicant's academic qualifications or previous management experience.
  8. Potential route to citizenship: Permanent residents who genuinely relocate to Cyprus may eventually become eligible to apply for citizenship by naturalisation, subject to meeting the applicable residence and other requirements.
  9. Potential access to a long-term Schengen visa: Cyprus permanent residents may be eligible to apply for a multiple-entry Schengen visa valid for up to five years, subject to the applicable visa requirements and approval by the relevant Schengen authorities.

Cyprus permanent residency requirements

  1. Be at least 18 years old and have a clean criminal record.
  2. Make a qualifying investment of at least EUR 300,000 in Cyprus.
  3. Demonstrate a secured annual income of at least EUR 50,000 from qualifying sources.
  4. Demonstrate an additional annual income of EUR 15,000 for a dependent spouse and EUR 10,000 for each dependent child included in the application.
  5. Provide evidence of the source of the funds used for the investment.
  6. Maintain medical insurance for themselves and accompanying family members.
  7. Declare that they do not intend to take up employment in Cyprus.
  8. Visit Cyprus at least once every two years to maintain permanent residence.

The main applicant and/or their spouse may own shares in a Cyprus-registered company and receive dividend income, subject to the applicable programme conditions.

Cyprus permanent residency investment options

Applicants must invest at least EUR 300,000 in one of the programme's approved investment categories. The most suitable option will depend on the applicant's objectives, preferred asset type and wider plans in Cyprus.

New Residential Property

  1. Applicants can purchase up to two new residential properties with a combined value of at least EUR 300,000 plus VAT.
  2. The properties must meet the programme requirements and be purchased from a developer as a first sale.
  3. A minimum of EUR 200,000 excluding VAT must be paid in advance and transferred to Cyprus from abroad.

Commercial Property

  1. An investment of at least EUR 300,000 can be made in qualifying non-residential property, including offices, shops, hotels and other commercial developments.
  2. Unlike the residential property route, qualifying commercial property may include resale property.

Cyprus Company

  1. Applicants can invest at least EUR 300,000 in the share capital of an eligible company registered and operating in Cyprus.
  2. The company must have a physical presence in Cyprus and employ at least five people.

Cyprus Investment Fund

  1. An investment of at least EUR 300,000 can be made in units of an eligible Cyprus Collective Investment Organisation, including qualifying AIF, AIFLNP or RAIF structures.

Choosing the investment option should take into account more than eligibility for permanent residence. The nature of the asset, intended holding period and the applicant's wider investment objectives should also be considered before proceeding.

Cyprus permanent residency application process

The Cyprus Permanent Residence application process generally takes approximately six to nine months, although processing times can vary between applications.

1. Initial Eligibility Assessment

  1. Our team reviews the applicant's circumstances, family composition, source of funds and preferred investment route to identify any potential eligibility issues.
  2. The proposed investment is assessed to determine whether it is suitable for the applicant's needs before proceeding.

2. Select the Qualifying Investment

  1. The applicant chooses one of the approved investment options.
  2. The necessary legal and financial due diligence is completed before making the investment.

3. Prepare the Application

  1. The required personal, financial and investment documents are collected and prepared for submission.
  2. Supporting documents issued outside Cyprus may need to be translated, certified or legalised.

4. Submit the Application and Biometrics

  1. The completed permanent residence application is submitted to the relevant Cyprus authorities.
  2. Applicants must also complete the required biometric procedures.

5. Government Review

  1. The authorities review the application, supporting documentation and qualifying investment.

6. Permanent Residence Approval

  1. If the application is approved, the permanent residence permit is issued.
  2. The applicant must continue to satisfy the applicable programme conditions to maintain their status.

Frequently asked questions

What are the investment options for the Cyprus Permanent Residence Programme?

There are four qualifying investment categories. The first is the purchase of up to two new residential properties with a total market value of at least EUR 300,000 plus VAT, sold by a land development company for the first time. The second is the purchase of commercial real estate such as offices, shops, or hotels with a minimum total value of EUR 300,000. The third is an investment of at least EUR 300,000 in the share capital of a Cyprus-registered company with a physical presence in Cyprus and at least five employees. The fourth is an investment of at least EUR 300,000 in units of a Cyprus Collective Investment Organization of type AIF, AIFLNP, or RAIF.

Who is eligible to apply for the Cyprus Permanent Residence Programme?

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.

Who qualifies as a dependent under the Cyprus Permanent Residence Programme?

The spouse of the main applicant qualifies as a dependent. Dependent children of the main applicant or spouse up to 25 years old also qualify. For children between 18 and 25, proof of full-time attendance at a recognized educational institution is required.

What are the benefits of the Cyprus Permanent Residence Programme?

The Cyprus Residence Permit is valid indefinitely and provides access to high-quality and affordable Cypriot healthcare and education. Holders may be granted a Multiple-Entry Schengen visa valid for up to 5 years. There is also a pathway to apply for Cyprus (EU) citizenship after an aggregate total of 7 years of continuous residence, provided the applicant has been staying in Cyprus for 12 consecutive months prior to the citizenship application. Cyprus also offers an attractive tax regime with no capital gains tax on 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%.

What is the income requirement for the Cyprus Permanent Residence Programme?

Applicants must provide evidence of a secured annual income of at least EUR 50,000 sourced from outside Cyprus. An additional EUR 15,000 is required for each dependent spouse and EUR 10,000 for each dependent child included in the application.

What is the application process for the Cyprus Permanent Residence Programme?

The process begins with signing an MOU and paying a EUR 5,000 due diligence deposit to HLG, which is refundable if the applicant is found ineligible. The applicant then signs the Client Mandate Agreement with HLG, completes the application package, and arranges a first visit to Cyprus. During that visit, the applicant views and purchases qualifying properties, executes the application package before Cyprus lawyers, submits the completed application to the Ministry of Interior, and provides biometric data. The application is then processed by the Ministry of Interior. If approved, the Residence Permit is issued and collected by Cyprus lawyers.

What is the processing time for the Cyprus Permanent Residence Programme?

The processing time is approximately 6 to 9 months.

Is travel to Cyprus required during the application process?

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

Is proof of source of funds required for the Cyprus Permanent Residence Programme?

Yes. Applicants are required to demonstrate they have sufficient funds to make the investment. The documents required will vary depending on the source of the investment funds.

Can the main applicant sponsor a spouse or child after Cyprus PR approval?

Yes. The main applicant can sponsor their legally married spouse. They can also sponsor their children if they are under 18 years old, or if older, are financially dependent on the main applicant, typically up to 25 years old provided they are students.

Can a Cyprus PR holder also hold another country's permanent residence?

No. Under Cypriot PR regulations, holders are not permitted to hold another country's permanent residence following Cyprus PR approval. This may require the applicant to give up residency in any country other than Cyprus.

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