Permanent Residency
June 28, 2024
Reading Time: 5 min

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

Cyprus is an island in the Mediterranean Sea with a subtropical climate and very mild winters. However, the high temperatures are not the only reason why it attracts people from all over the world.

An EU member state, Cyprus is ranked among the most advanced economies in the world, offering ample opportunities not just to its citizens but also to its residents.

The Cyprus Permanent Residence by Investment program offers foreigners an opportunity to live, work and conduct business activities in the country. Here’s what you need to know about it.

Igor Buglo
Igor Buglo

Explains how investors can become permanent residents of Cyprus

Cyprus permanent residence by investment

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

9 benefits of Cyprus permanent residence

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 Residency by Investment in !year: a Golden Visa with a Purchase of Real Estate, Securities and Bonds

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.

4 options to invest for a Cyprus permanent residence permit

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.

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.

Requirements for Cyprus permanent residency applicants

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.

Cyprus PR cost comparison

For one person

For a married couple

Confirmed income

€50,000+ per year

€65,000+ per year


+€10,000 for each child

Investment

€300,000+

€300,000+

VAT, if applicable

€15,000+ for real estate purchase


€57,000+ for commercial estate purchase

€15,000+ for real estate purchase


€57,000+ for commercial estate purchase

Administrative fee

€500

€500


+ €500 per child over 18

Registration fee

€70

€140


+€70 for each additional family member

Permanent residence card fee

€70

€140


+€70 for each additional family member

Documents to apply for Cyprus residency by investment

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.

Obtaining Cyprus PR by investment: a step-by-step guide

Receiving the permanent residency in Cyprus could take at least three months. Most of the procedures can be done remotely. Immigrant Invest lawyers will act on the investor’s behalf before the final steps when the applicant will need to fly to Cyprus to submit biometrics and collect permanent residence cards.

1

1 day

Preliminary Due Diligence

Due Diligence is mandatory for everyone willing to get a permanent residence permit in Cyprus.

During the preliminary Due Diligence, Immigrant Invest’s own Compliance Department examines the information about the investor against open sources and international databases. The procedure is confidential and helps reduce the risk of rejection to 1%.

2

Up to 2 weeks

Preparation of documents

The Immigrant Invest lawyers help the applicant collect, translate and apostille all the required documents, including a real estate purchase agreement.

3

Several weeks

Fulfilment of the investment condition

If the investor chooses to buy residential property, the documents are submitted to the Department of Lands and Surveys of Cyprus to reduce VAT from 19% to 5%. After approval, the investor pays for the property and VAT.

The same procedure takes place in the case of purchasing commercial property, except for the VAT reduction. If an investor has chosen another investment option, they buy shares or units.

4

1 day

Applying for permanent residence

Immigrant Invest lawyers submit the investor’s application with prepared documents to the Civil Registry and Migration Department of Cyprus. The applicant does not need to travel to Cyprus at this point.

5

2 to 4 months

Obtaining permanent residence

Within a year after the application is approved, the investor and their family must visit the country to submit biometrics and obtain Cyprus permanent residence cards.

Key things about Cyprus permanent residence

  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.

Immigrant Invest is a licensed agent for citizenship and residence by investment programs in the EU, the Caribbean, Asia, and the Middle East. Take advantage of our global 15-year expertise — schedule a meeting with our investment programs experts.

Frequently Asked Questions

  • How can you get Cyprus permanent residency?

    There are four options to participate in the Cyprus permanent residency by investment program: purchase of residential property, purchase of commercial property, purchase of fund units and purchase of shares of local capital.

  • How much do you need to invest for permanent residency in Cyprus?

    The minimum investment required for the program is €300,000, regardless of what the applicant chooses to invest in. There are other expenses, though, including VAT in case of property purchase, administrative fees and the cost of permanent residence card issuance.

  • How long can you stay in Cyprus with permanent residence?

    The permanent residents receive this status for life, meaning there are no restrictions on entering and leaving Cyprus.

  • How long does it take to obtain permanent residency in Cyprus?

    The application can be processed by the Civil Registry and Migration Department of Cyprus in between two and four months. Overall, obtaining residency could be completed in just three months.

  • What are the benefits of Cyprus permanent residence?

    Apart from fast processing time and unlimited residency for the whole family, becoming a permanent resident in Cyprus has plenty of benefits. This includes low taxes, a high level of life, a chance to obtain citizenship after five years of residing in the country, and an opportunity to return the investment after the same period.