Cyprus Permanent Residence Programme

The Cyprus Permanent Residence Programme offers a simplified procedure for obtaining residency in Cyprus, that allows one to live in Cyprus, as well as apply for Cyprus Citizenship after 5 years.

Cyprus is known for its high standards of living and the lowest crime rates in the EU, as well as sunny weather and local hospitality.

Essentially, it is considered and has been for years an excellent option as a relocation destination. Cyprus offers a favourable tax regime, which makes the country attractive to non-EU nationals seeking alternative residency/citizenship.

• Key Benefits of the Cyprus Permanent Residence Programme
• Mobility
• Main Requirements
• Investment Options
• Timeframe
  
  

Key benefits of the Cyprus Permanent Residence Programme

• Spouse, children, including unmarried children age 18-25 subject to conditions.
• The right to live and study in Cyprus.
• One can be shareholder of Cypriot company/business and receive dividends.
• Valid for Life.
• One can apply for citizenship after 5 years of living in Cyprus, subject to conditions.
• Access to higher education institutions and private schools established in Cyprus as well as to the free government school education.  
• Fast access to Europe  
• Permanent Residency holders can apply and obtain a Schengen visa in any European embassy in Cyprus. 
• Permanent Residency holders are beneficiaries of the GHS (Government Health System) 
  
  

Mobility

No Schengen visa-free access with residence permit, 175 countries incl. Schengen with citizenship

Main Requirements for the Cyprus Permanent Residence Programme

• Main applicant be at least 18 years of age.
• Have a clean criminal record.
• Hold a health insurance.
• Invest in Cyprus.
• One visit within the first year, thereafter 1 visit in each 2 years period.
• Provide evidence of secured annual income of at least €50,000, originating from abroad. The annual income can only be proved through a tax return declaration from the country that the applicant declares tax resident.
• The level of the annual income required is increased by €15.000 for the spouse and €10.000 for any dependent child
• The applicant maintains the required income for the duration of PR (This is not applicable anymore.  The requirement for annual submission of proof that the applicant maintains the income determined for him/herself and his/her family members is abolished.)
•  The applicant and his/her dependent family members must submit a health insurance policy certificate for medical care covering inpatient and outpatient care every three years. Notably, the applicant must provide annually evidence of maintaining the investment.
  
  
  
  
  

  Investment Options

  The Cyprus Permanent Residence programme requires an investment of at least €300.000 in one of the following:

  1. Firstly, house/apartment OR
  2. Alternatively, investment in Real Estate (excluding houses/apartment) OR
  3. Conversely, investment in share capital of a Cyprus company employing at least 5 persons OR
  4. Otherwise, investment in Cyprus fund (AIF, RAIF, AIFLNP).

Timeframe