Non-EU citizens who purchase property in Cyprus can benefit from a new and accelerated procedure for obtaining a Permanent Residence Permit within 3 months.

The parents (his and or her spouse’s) of Permanent Residency holders or future applicants can also apply for a permit.

How can you get a Permanent Residence permit in Cyprus

  • The applicant and/or his spouse should purchase a property or other buildings worth at least EUR 300,000 

Additional Financial Requirements

  • The applicant should deposit a minimum amount of EUR 30,000 in a Cypriot financial institution.
  • Have a secure annual income (can be combined with spouse) of at least EUR 30,000 transferred to a bank account in Cyprus from abroad. This annual income increases by EUR 5,000 for every dependent child and €8,000 for each dependent parent (applicant’s or spouse’s).

Other Conditions

  • Submit a statement confirming they will not be working or be engaged in any form of business in Cyprus.
  • Submit a clean criminal record certificate issued by the Authorities of their country of origin

Top Reasons to get a Permanent Residence permit in Cyprus

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  • 1. Lower tuition fees for non-EU Cypriot permanent residence permit holders, as they are considered permanent residents of an EU country.

  • 2. Cyprus is a common law jurisdiction

  • 4. Property acquired is freehold

  • 4. Low crime rate in Europe

  • 5. No inheritance tax

  • 6. Low property tax

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