Permanent Residency

Permanent Residency – Golden Visa

The Cyprus Permanent Residency program enables non-EU nationals to acquire a Permanent Residency Permit (PRP) by investing in Cyprus a minimum of €300,000.  Acquiring real estate property in Cyprus is one of the eligible investment types.  PRP can also be granted to the following applicant’s relatives: dependent parents, dependent children up to the age of 25, spouse as well as the spouse’s parents.

The process is simple, straight-forward and fast; it typically takes only two months for the permit approval.

Key Requirements

  • Eligible Investments of at least €300,000 (+VAT where applicable) can be made in either real estate, shares of Cypriot investment funds or in the capital of companies registered in Cyprus:
    • Residential property. One or two new residential properties (cumulative value at least €300,000); purchased from a developer; the funds for the purchase must be transferred to Cyprus from abroad; a title deed or purchase agreement, in the name of the main applicant; payment of at least €200,000 must be made prior to filing a PRP application.
    • Any other real estate property investment is also eligible including offices, shops, hotels, other real estate investments or developments. The investment can be in one or more properties and the properties can either be new or resale.
    • Investment in the share capital of a company registered and operating in Cyprus that employs at least five people
    • Investments in shares of funds registered in Cyprus (type AIF, RAIF, AIFLNP)
  • Evidence of a steady annual income of at least €30,000 which can be from any source other than employment in Cyprus. This minimum increases by €5,000 for each dependent family member and by €8,000 for each parent of the main applicant and/or the spouse
  • Declaration that the applicant does not intent to be employed in Cyprus. PRP holders may own shares in Cypriot companies and receive dividends
  • A PRP holder must visit Cyprus at least once every two years

Permanent Resident Permit Benefits

  • Freedom to live in Cyprus and travel to some EU member states
  • No requirement to live in Cyprus
  • Simple and fast procedure; two months from application to PRP decision
  • The permits are permanent; no renewal required
  • No language, education tests or medical examinations required
  • Permanent residency for main applicant and their dependents
  • PRP holders are allowed to own a business in Cyprus (conditions apply)
  • PRP holders have the right to apply for citizenship provided they have held PRP status and resided in Cyprus for at least seven years

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