Obtaining Cyprus permanent residence by investment: all options and step-by-step guide

1. Low tax rates. There are no taxes on global income and inheritance and low income and corporate taxes. The tax on income earned in Cyprus is 0 to 35% on a progressive scale, while the corporate tax rate is 12,5%.

Cyprus permanent residence for investors

2. Residency for the whole family. Investors’ spouses and children can also be included in the application.

3. High level of life. Cyprus is a member of the European Union and is listed among countries with advanced economies by the International Monetary Fund. It is also an island in the Mediterranean with a wonderful warm climate and rich historical heritage.

4. Opportunity to own a business. Investors with permanent residence can buy shares in local companies, open their businesses or transfer operating companies to the country’s jurisdiction.

5. Unlimited residency. The Cyprus permanent residency does not need to be renewed as it is issued for life. Once in ten years, the residents must update their photos on the permanent resident card.

6. Prospects of citizenship. Five years after obtaining permanent residency in Cyprus, the individual can apply to become a citizen of the EU country.

7. Quality healthcare and education. Cyprus permanent residents have the same access to the many public and private clinics in the country as the citizens of the country. There are also plenty of international schools and universities operating in Cyprus.

8. Fast processing time. The permanent residence can be obtained in just 3 months. Application is normally processed in between two and four months by the Civil Registry and Migration Department of Cyprus.

9. Opportunity to return the investment. In five years, the investor can obtain a Cypriot passport, after which they can return the money by selling the property, shares or stocks. One will lose one’s permanent residency if one decides to return the investment before that point.

The Cyprus permanent residency program offers investors an opportunity to move to the European Union country with a favourable tax regime and a prospect of obtaining citizenship in the future.

The prospective applicant can choose between several investment options. In each case, a minimum investment of €300,000 is required.

1. Residential property purchase. The investor buys one or two new real estate properties for at least €300,000. A standard VAT is 19%, but the investor will only pay a 5% tax if they prove they buy the housing to live there rather than rent it out. Secondary real estate is not available for the program’s purposes.

Guide to real estate in Cyprus

2. Commercial property purchase. The investor buys one or two commercial properties with a total value of at least €300,000. VAT is paid at 19%. Unlike the case of housing, there’s no difference between primary and secondary markets.

3. Fund units purchase. The applicant invests in units of the Cyprus Investment Organization of Collective Investments. It might be shares of Cypriot companies or units of local investment funds.

Acceptable forms are:

• AIF (Alternative Investment Fund);

• AIFLNP (AIF for Limited Number of Persons);

• RAIF (Registered AIF).

4. Shares of local capital purchase. The applicant acquires shares in a Cypriot company conducting commercial activities with five or more employees.

The permanent residency by investment program is available for non-EU citizens.

The main applicants should have no criminal record or violations of migration law. They should also have no restrictions or bans on entry to the European Union and the UK.

The applicants provide a title of ownership or a rental agreement for housing in Cyprus. Other requirements include impeccable personal and business reputation, the ability to prove a legal annual income of at least €50,000 and medical assessment results.

The investor can include in the application their family members:

• spouse, without criminal record or employment in Cyprus;

• children under 18, financially dependent on the investor;

• children between 18 and 25, financially dependent on the investor, unmarried and studying at the university;

• disabled children of any age.

The number of family members in the application does not have an impact on the amount of the investment, but it does on the amount of income the investor needs to confirm. Besides, the investor bears additional expenses for the registration services and the card issuing.

Apart from the application for a permanent residence permit itself, the applicant will need to submit further documents, including:

• originals and copies of valid passports of all the applicants;

• passport-sized photos for each applicant;

• the main applicant’s biography;

• proof of legal annual income of at least €50,000;

• proof of investment;

• proof of property ownership or a rent agreement;

• a statement of absence of employment in Cyprus;

• a certificate of clean criminal record for the main applicant and the spouse;

• civil documents, including birth and marriage certificates;

• medical insurance.

1. The Cyprus permanent residence program offers a fast way to become a life‑long resident in a European Union country with a favourable tax system and a warm Mediterranean country.

2. There are four options to participate in the program: purchasing residential property, commercial property, shares, or stocks. In every case, the minimum investment amount is €300,000.

3. The whole process could take as little as three months, and the applicants will only need to travel to Cyprus after they have been granted permanent residency.