The Republic of Cyprus is an island country in the Eastern Mediterranean Sea. Cyprus is a member of the EU and an established international financial centre which benefits from one of the most favourable tax regimes in Europe. It is a popular tourist destination that enjoys at least 300 days of sunshine a year. The country offers a permanent residency programme for Non-EU individuals seeking to relocate to Cyprus.
Why become a permanent resident of Cyprus?
Ease of immigration
It is inexpensive and fast to immigrate to Cyprus
Cyprus is a full member of the European Union
Entire family is eligible
The programme includes the spouse, the dependent children and the parents.
Soon entering Schengen
Cyprus is about to join the Schengen Zone soon. The application process is ongoing and Cyprus has passed its first requirements. Once in Schengen, the Cyprus residence permit will allow its holders free travel in the 26 countries of the Europe’s Schengen Area.
Euro is the local currency
No need to add another currency to your portfolio
Cyprus has one of the lowest crime rates in Europe
Great location & holiday destination
Cyprus is a popular destination for families looking for a sunny and safe environment.
Low tax jurisdiction
Cyprus has both low personal and corporate tax
High standard of living
The average life expectancy is 78 years for men and 81 years and women. Cyprus has a modern healthcare system.
How to obtain a permanent residence permit?
You can obtain a permanent residence permit via investing in real estate in Cyprus and by demonstrating a secured annual income from outside Cyprus. The residence permit holder must visit Cyprus at least once every two years to maintain their residency status.
The requirements for permanent residency are as follows:
Invest a minimum of €300,000 (excluding VAT) into one of the following:
- Residential property (newly built or off-plan) or commercial property purchased in Cyprus
- Share capital of a physical company registered and operating in Cyprus, which employs at least 5 people
- Units of the Cyprus Investment Funds Association’s collective investments (AIF, AIFLNP, RAIF)
Secured annual income
Show proof of a secured annual income of at least €30,000 earned abroad (raised by €5,000 for each dependent included in the application, and €8,000 for each parent of the primary applicant and/or spouse)
How long does it take?
Residency is obtained within 2 months.
Who can apply?
Any Non-EU citizen can apply to become a permanent resident of Cyprus, as long as they:
- have no criminal record
- can justify the origin of the funds for investment
- hold a valid passport or travel document
- follow the investment and annual income requirements mentioned above