Residence Permit in Cyprus

Residence and Permanent Residence in Cyprus

Cyprus provides several routes to temporary or permanent residence. For third-country nationals, one option is the expedited permanent residence procedure based on qualifying investment, including the acquisition of property that meets the applicable requirements.

The applicable requirements depend on the residence category, the applicant's nationality, family circumstances, sources of income, and other individual factors.

Purchasing property does not automatically grant residence in Cyprus. An applicant must satisfy the applicable immigration requirements and complete the prescribed procedure in order to obtain the relevant status.

Permanent Residence Through Investment

Cyprus provides an Immigration Permit procedure under Regulation 6(2) of the Aliens and Immigration Regulations for third-country nationals who satisfy the applicable investment and other qualifying criteria.

The minimum qualifying investment is €300,000. The policy provides several eligible investment categories, one of which is the acquisition of residential property.

Permanent Residence Through the Purchase of a House or Apartment

Where residential property is selected as the qualifying investment, the applicant must purchase a house or apartment from a development company. The property must constitute a first sale and have a value of at least €300,000 plus VAT, where applicable.

Up to two residential units may be purchased, provided that the applicable requirements regarding the total value of the investment are satisfied. For a married couple, this limit applies jointly.

The Sale Agreement or Title Deed must be in the name of the applicant and/or the applicant's spouse in accordance with the applicable requirements and, where a Sale Agreement is used, must be officially deposited with the Department of Lands and Surveys.

Other Qualifying Investment Categories

The investment-based permanent residence procedure is not limited to the purchase of a new house or apartment.

The current policy also provides for qualifying investments of at least €300,000 in other types of real estate, such as offices, shops, hotels, and similar developments, as well as certain investments in the share capital of a Cyprus company or eligible Cyprus investment funds.

Each investment category has its own requirements, and the appropriate route should be assessed according to the individual applicant's circumstances.

Income Requirements

In addition to the qualifying investment, the principal applicant must demonstrate a secure annual income of at least €50,000.

The required annual income increases by €15,000 for the applicant's spouse and by €10,000 for each dependent minor child of the applicant or spouse.

The requirements regarding the source and evidence of income depend on the investment category selected. In particular, where the qualifying investment is a house or apartment under the relevant category, the required income must derive from abroad and be evidenced by the documentation prescribed by the policy.

Source of Investment Funds

Funds used for the qualifying investment must be demonstrated to originate from abroad and must comply with the requirements of the current procedure.

Evidence demonstrating the source and transfer of the investment funds must be provided as required by the Migration Department.

Spouses and Children

The principal applicant's Immigration Permit may cover the applicant's spouse and dependent children under the age of 18, subject to the applicable requirements.

Unmarried children between the ages of 18 and 25 who, at the time of application, are students in tertiary education abroad and are financially dependent on the applicant may submit separate applications subject to the applicable conditions.

A separate mechanism is available for adult children who are not financially dependent on the applicant, involving a higher qualifying investment and additional requirements.

Maintaining the Investment

The qualifying investment on which the Immigration Permit is based must be maintained in accordance with the conditions of the policy.

Disposal of the qualifying investment without its permitted immediate replacement by another qualifying investment of equal or greater value may result in cancellation of the Immigration Permit.

Other Types of Residence Permits in Cyprus

Investment-based Permanent Residence is not the only route to legal residence in Cyprus.

Depending on the applicant's circumstances, other temporary or permanent residence categories may be available in connection with employment, studies, family circumstances, independent financial means, or other grounds provided by law.

The appropriate category should be determined according to nationality, the purpose and expected duration of relocation, employment rights, financial circumstances, and family composition.

How Cyprus Realty Center Assists Property Buyers

Where a client is considering purchasing property as part of a relocation or an investment-based permanent residence application, Cyprus Realty Center helps identify properties according to the client's objectives and property requirements.

We confirm available property information and purchase terms, arrange viewings, communicate with property owners and developers, and coordinate the property acquisition process.

Advice regarding immigration status, preparation and submission of an application, confirmation of eligibility, and other specialist legal matters should be obtained from a qualified immigration lawyer or other appropriately qualified professional adviser.

The information on this page is provided for general information only and does not constitute legal or immigration advice. Programme and procedural requirements may change and should be confirmed in relation to the individual applicant before an investment decision is made.

Services that require a licensed real estate agent under the laws of the Republic of Cyprus are provided through the licensed real estate agency C.K.C.M PROPERTY ONE REAL ESTATE LTD (RN1026 | LN510/E).

If you are considering purchasing property in Cyprus as part of a relocation or Permanent Residence application, contact Cyprus Realty Center. We can help identify suitable properties and coordinate the property acquisition process.