Cyprus PR Permanent Residency 2025

Cyprus offers a permanent residence program for third-country nationals through investment, provided they meet specific income and investment criteria.

In 2024, obtaining Cyprus permanent residency requires a minimum investment of €300,000 in property, shares, or alternative investment funds, along with a guaranteed annual income of at least €50,000. Additional income is required for family members.

Cyprus Property Investment for Permanent Residency

Investors can secure permanent residency in Cyprus by purchasing residential or commercial property valued at a minimum of €300,000 (plus VAT) and ensuring a guaranteed annual income from abroad of at least €50,000. Additional income requirements include €15,000 for a spouse and €10,000 for each dependent child.

Approved applicants and their families receive Cyprus Immigration permits, allowing them to reside in a country known for its natural beauty, favorable climate, stable economy, and strong community life.

Application Process

The application form (MIP1) and supporting documents must be submitted to the Civil Registry and Migration Department (CRMD) either in person or through an authorized representative, such as a local immigration lawyer. A letter of authorization is required for representatives.

The CRMD charges €500 for the application, plus €70 for each person included, to cover the issuance of the Aliens’ Registration Certificate (ARC), if not already obtained.

Recent updates to the permanent residence by investment procedure (Category 6.2) have streamlined the process, allowing decisions within two months.

Due Diligence

Applicants must provide:

• Clean criminal records for themselves and their spouse from their country of residence and origin (if different).
• Health insurance.
• A declaration that neither they nor their spouse will work in Cyprus.
• Title deed or sales contract for the property, registered with the Department of Lands and Surveys (DLS).
• Proof of adequate accommodation for commercial property investments.
• DLS search certificate for the property.
• Marriage and birth certificates, if applicable.
• Proof of annual income, such as a tax return from their country of tax residence, showing income from dividends, salary, pension, fixed deposits, or rental income.

Requirements for Visa Holders

Permanent residents must visit Cyprus at least once every two years to maintain their residency status and are prohibited from obtaining permanent residency in another country. Annually, they must provide:

• Proof of maintaining the investment.
• Health insurance certificates for themselves and their family if not covered by GESY.
• Updated criminal records every three years.

Failure to provide these documents may result in the withdrawal of the residence permit.

Investment Options for Cyprus Permanent Residence

Two main investment routes are available for obtaining permanent residence in Cyprus:

1. Property Investment:

   • Purchase residential real estate, such as a newly built house or apartment, from a developer for at least €300,000 plus VAT.
   • Alternatively, purchase other real estate, like offices or hotels, for a minimum of €300,000. Funds for residential properties must come from abroad, but this is not required for commercial real estate, company shares, or funds.

2. Shares or Alternative Investment Funds:

   • Invest €300,000 in the share capital of a newly registered or existing Cyprus company.
   • Invest in units of a Cyprus Investment Organization of Collective Investments (AIF, AIFNLP, or RAIF), with titles or proof of purchase and a confirmation from the Cyprus Securities and Exchange Commission (CySec) required.

Dependent Persons

Permanent residency applications can include spouses, children under 18, and unmarried university students aged 18-25. Recent amendments exclude the applicant's parents and parents-in-law from gaining residency through this program.

Benefits of Cyprus Permanent Residency

Permanent residence in Cyprus is granted indefinitely and can only be revoked under exceptional circumstances. Residents enjoy protection and rights comparable to those of Cyprus citizens and EU nationals, including:

• High living standards.
• Stable social, political, and economic environment as an EU member state.
• British-based legal system.
• Safe, family-friendly environment.
• English-speaking community.
• Favorable tax system.
• Low cost of living.
• Rich cultural and historical heritage.

Visa-Free Travel for Permit Holders

Cyprus permanent residence permits do not currently grant visa-free travel to other EU countries, except Bulgaria and Romania, or to the Schengen zone, as Cyprus is not yet a Schengen member. However, Cyprus has applied to join the Schengen zone, and the application is under review.

Pathway to Cyprus Citizenship

Permanent residency through investment can lead to Cypriot citizenship after 8 years, under the following conditions:

• Seven years as a resident and one continuous year within ten years, with up to 90 days of absence allowed.
• Passing a B1 level language test or holding a relevant degree in Greek.
• Knowledge of Cyprus's socio-political context, assessed by the Ministry of Education.
• Maintaining a clean criminal record and residence in Cyprus, with the intent to continue residing in the Republic.

Male citizens aged 18-26 must complete six months of military service, while those over 26 must serve three months.

Real Estate Collection for Permanent Residence

The program offers a selection of properties eligible for permanent residence applications, including:

• New development projects.
• Apartments.
• Penthouses.
• Villas and houses.
• Commercial real estate