Permanent Residency status in Cyprus can be obtained through the Permanent Residency Programme. Cyprus has recently expanded the types of qualifying investments for non-EU nationals to obtain PR status under the ‘fast-track’ route from residential real estate to include commercial real estate.
Criteria Overview Purchase a property at a minimum value of €300.000 +VAT An income certificate is required A clear criminal record is required Proof that funds came to Cyprus from abroad Parents of main applicant and his or her spouse are also eligible to apply.
Procedure and Time Frame Once all the documents are ready, the application will be submitted to the Civil Registry and Migration Department. Applications are typically approved within 2-3 months. Once approval has been granted, the applicant and family members must visit Cyprus within one year to receive the permit.
Benefits Overview
Eligible to apply for Cyprus Tax residency and take advantage of favourable tax benefits.
The Permanent Residence Permit is valid for Life. A visit to Cyprus once every two years is required.
You become eligible for citizenship A Cyprus Permanent Resident has the right (under certain conditions) to apply for a Cyprus passport.
No visa required. The Cyprus Permanent Residency holder and his family are free to enter Cyprus without obtaining a visa.
