Cyprus, a sun-drenched Mediterranean island nation known for its stability, EU membership, and high quality of life, offers one of the most attractive and straightforward residency-by-investment programs in Europe. The Cyprus Permanent Residency (PR) Program, often referred to as the Cyprus Golden Visa, provides a fast-track route to permanent residence for foreign investors and their families.
As an EU member state, Cyprus offers visa-free travel across the Schengen Area (expected post-accession), world-class education and healthcare systems, and a tax-friendly environment that appeals to entrepreneurs, retirees, and global investors alike.
Investment Requirements / Options
Applicants can obtain Cyprus Permanent Residency through a qualifying investment in real estate, business, or financial assets. The most common route is real estate investment, which must meet the following criteria:
Real Estate Investment (Main Route)
- €300,000 minimum (excluding VAT) in new residential property purchased from a developer.
- Payment must be made from funds transferred from abroad, and proof of transaction is required.
- The property can be:
- A single new residential unit (house or apartment), or
- Two new units from the same developer (e.g., one apartment + one office).
- Resale properties do not qualify.
- The applicant must demonstrate annual income of at least €50,000, plus:
- €15,000 for spouse
- €10,000 per dependent child
Alternative Investment Options
- €300,000 in commercial real estate (offices, hotels, or shops — new or resale).
- €300,000 in share capital of a Cyprus-based company employing at least 5 people.
- €300,000 in units of a Cyprus Investment Fund (AIF, AIFLNP, or RAIF) regulated by CySEC.
Additional Financial Requirements
- Funds must be transferred from abroad to a Cyprus bank account in the applicant’s name.
- A secured annual income must originate from overseas (salaries, pensions, dividends, rents, etc.) and must not be earned in Cyprus.
Fees
- Government application fee: €500 per family
- Permanent Residence Permit issuance fee: €70 per person
- Legal and administrative costs (property purchase, translation, certification, etc.): typically ~2–3% of property value
Qualifying Dependents
The Cyprus PR Program allows the inclusion of close family members under a single application:
- Spouse
- Children under 18
- Unmarried adult children (18–25) who are financially dependent and students
- Parents and parents-in-law of the main applicant or spouse
Each dependent receives a lifetime permanent residence card alongside the main applicant.
Dual Citizenship and Long-Term Benefits
Cyprus allows dual citizenship, and the PR permit provides a pathway to full citizenship after 5–7 years of continuous residence (subject to conditions and physical presence).
PR holders also enjoy:
- The right to reside indefinitely in Cyprus
- Access to EU healthcare and education systems
- Eligibility for EU tax residency under Cyprus’s favorable regime (non-domiciled exemption for 17 years)
Process Overview
The Cyprus PR application process is highly efficient and can be completed in 2–3 months from submission.
Month 1 – Initial Due Diligence and Investment
- Investor selects qualifying property or investment
- Legal team conducts due diligence and prepares sale/purchase documentation
- Investment funds are transferred and purchase contract filed with the Department of Lands and Surveys
Month 1–2 – Application Submission
- Residency application submitted to the Civil Registry and Migration Department (CRMD)
- Required documents include proof of investment, clean criminal record, health insurance, and income declaration
Month 3 – Approval and Residence Issuance
- Upon approval, biometric data is provided in Cyprus
- Permanent Residence Cards are issued (valid for life, with renewal every 10 years for card replacement)
Taxation
Cyprus offers one of the most favorable tax systems in Europe, with extensive benefits for residents:
- No tax on foreign income, dividends, or interest for non-domiciled residents
- 5% corporate tax rate — one of the lowest in the EU
- No inheritance, wealth, or gift tax
- Double taxation treaties with 65+ countries, including Canada, UAE, and the UK
Summary of Key Advantages
- Investment from €300,000 (plus VAT)
- Lifetime permanent residency for investor and family
- Fast processing time — within 2–3 months
- No physical stay requirement (only one visit required for biometrics)
- Access to EU healthcare, education, and banking systems
- Pathway to citizenship after 5–7 years
- High quality of life in a safe, sunny EU destination
- Attractive tax system for global investors and entrepreneurs
