Residency by Investment in Cyprus (fast-track)

For non-EU citizens people seeking permanent residence in the EU, Cyprus is a popular choice with Residency by Investment program. A tricontinental island with a rich history, several UNESCO World Heritage Sites, a diverse population, gracious hospitality, good living standards, and the EU’s lowest crime rates. It is a vibrant commercial center because to its booming industries, which include professional services, tourism, real estate, shipping, and renewable energy. In addition, it’s simple to see why it ranks as the fifth greatest relocation destination in the world with 320 days of sunshine and the cleanest and most Blue Flag beaches in all of Europe.

As Cyprus has been a member of the EU since 2004 and the Eurozone since 2008, permanent residence enables holders to travel within the EU with less onerous visa requirements. The Cyprus Permanent Residency (Fast Track) Program serves as the first step toward obtaining Cypriot citizenship. Permanent residency applications are processed quickly and based on strict criteria that are only met by respectable people.

Cyprus grants non-EU nationals the right to live permanently there without having to renew their visas in accordance with the rules of Regulation 6 (2) of the Aliens and Immigration Regulations. The procedure is based on a list of qualifying standards, and only respectable people are given the status of permanent resident.

Investment Criteria for Residency by Investment program

For those interested in applying for residency by investment in Cyprus, it’s important to note that the application process can be complex and challenging. That’s why we recommend seeking the guidance and assistance of professional immigration lawyers licensed by the Cyprus Bar Association. Our team has the expertise and knowledge to help guide you through the process and ensure that your investment decisions are well-informed. Contact us today for a consultation and let us help you make the most of your residency by investment in Cyprus.

The Ministry of Interior has made it easier for non-EU people who want to invest in Cyprus to get permanent residency permits, in keeping with the Cyprus government’s goal of boosting foreign investment.

Investment Details:

The applicant must make an investment of at least €300,000 in one of the following types of investments in order to be eligible for Cyprus Permanent Residency:

1. Purchase of a home or apartment: acquisition of a home or apartment from a developer, which should involve a first sale of at least €300,000. (plus VAT).
2. Real estate investment (not including homes or flats) acquisition of additional real estate of a total worth of €300,000, such as offices, retail establishments, hotels, or related estate projects. A resale may lead to the acquisition of interest.
3. Share capital investment in a company having operations and people in the Republic of Cyprus: $300,000 invested in the stock of a corporation with a Republic of Cyprus registration,, headquartered in the Republic of Cyprus, conducting business there, having a confirmed physical presence there, and employing at least five (5) employees.

Who is Eligible to get the Permanent Residency?

The residency permit covers not only the applicant and their spouse, but also:

• The applicant’s parents, and minor children under the age of 17 are also covered by the residency permit.
• Adult children who are enrolled in school between the ages of 18 and 24 are also eligible to apply for a residence permit.
• Married children who are enrolled in school and who are 18 to 24 years old (inclusive) may apply for residence alongside their parents.

Other Financial Criteria

1. Keep a three-year fixed deposit account with a bank in Cyprus for at least €30,000,the deposit must come from outside of Cyprus.
2. Provide proof of a guaranteed annual income from abroad of at least €30,000 (increasing by €5,000 for each dependent on the application and €8,000 for each parent of the main applicant and/or spouse).

Individual Quality Criteria

1. Clean Criminal Record: The applicant and his spouse must provide proof of a clean criminal record from their place of residency or, if they live in Cyprus, from the Republic, and they should not typically be viewed as posing any threat to Cyprus’s public order or security.
2. Affidavit: The applicant and his spouse must attest that they have no plans to work in the Republic, with the exception of their directorships at the companies they have chosen to invest in under this policy.
3. Shares in Cyprus Companies: The applicant and/or his spouse are permitted to be shareholders in companies registered in Cyprus in circumstances where the investment does not concern the company’s share capital, and the income from the dividends derived from such companies may not be considered as a barrier for purposes of obtaining the Immigration Permit. They may also serve as an unpaid Director in such firms.
4. Proof of Property Purchase: Documentation of applicant’s housing in the Republic (e.g. title of ownership or contract of sale and proof of payment for the property)

Application Process Details for Residency by Investment program

• Application for Permanent Residence and related legal paperwork must be produced and filed to the Civil Registry and Migration Department. To make the process easier for you, our Immigration Lawyers can obtain a Power of Attorney on your behalf, allowing us to handle your Cyprus Permanent Residency application even while you’re still in your home country.
• You will receive your Cyprus Residence Permit within two months after application submission
• You will have to visit Cyprus within a year after your application is approved in order to  have the authorities take your biometrics (for the issuing of a PR card), and then once every two years after that.

Costs and Fees

To successfully obtain permanent residency in Cyprus through investment, significant time and resources are required. Additionally, there are several government fees to be paid during the application process, including

• a €500 cost for filing the application with the Migration Department and
• €70 for an Alien Registration Certificate. 

On top of this, legal fees are required with our office offering an attractive package for clients.

Our services include preparing all necessary documents, scheduling appointments with the Migration Department, and filing the application through a Power of Attorney document, which costs

• €600 plus VAT for the main applicant and
• €300 plus VAT for every dependent person. 

Furthermore, we can assist in finding the right property for your investment, drafting the purchase contract, and filing it with the Land Department.

Contact Us

Looking to obtain permanent residency in Cyprus? Let our team of experienced Immigration Lawyers handle the process for you. We understand that the process can be time-consuming and overwhelming, but we have the expertise to navigate it successfully.

Our team can handle everything from filling out the application to submitting it on your behalf with a Power of Attorney. Leave your contact information and we will be in touch with you to discuss all the details.