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).
- 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