Cyprus
Permanent Residence Program

Cyprus Permanent Residence Program (Investment-Based)


Processing Time (from application to residence permit):
Approximately 12–18 months.

Pathway to Citizenship:
Eligibility to apply arises after 7 years of legal residence, plus an additional 12 months of continuous residence immediately prior to the application (with absences not exceeding 90 days in that final year). Passing a Greek language exam (Level B2) is mandatory.

Eligible Family Members:
Spouse and children (including unmarried children aged 18–25, provided they meet dependency criteria).

Key Benefits:
  • Right of permanent residence in Cyprus.
  • Permanent status (no renewal required).
  • Employment Restriction: The permit holder cannot be employed as a salaried worker in Cyprus. However, they may:
  • — Serve as a director of a Cypriot company (under the investment route).
  • — Be a shareholder of a Cypriot company and receive dividends.

Physical Presence Requirement:
One visit during the first year to provide biometric data; thereafter, visits are required every 2 years.

Minimum Investment:
€300,000 (plus VAT, if applicable) in one of the following options:
  • A residential house or apartment (first-time sale from a developer).
  • Other types of real estate (office, shop, hotel, or mixed-use) — new or resale.
  • Investment in the share capital of a Cypriot company that employs at least 5 people.
  • Investment in a Cypriot investment fund (AIF, RAIF, AIFLNP).

Investment Holding Period:
The investment must be maintained for the entire duration of the residence permit.

Additional Financial Criteria:
Proof of a secured minimum annual income of €50,000, sourced from abroad. This amount increases by:
  • €15,000 for the spouse.
  • €10,000 for each dependent child.

Travel Privileges:
Currently, the permit grants residence rights in Cyprus only. It does not confer Schengen Area access until Cyprus joins the Schengen Zone.

Right to Live and Work:
Right of permanent residence in Cyprus.
  • Cannot work as a salaried employee.
  • Can act as a director or shareholder of a Cypriot company and receive dividends.

Taxation:
Tax residency is determined by physical presence, not citizenship. One becomes a tax resident by:
  • Staying in Cyprus for 183 days or more in a tax year and obtaining a Tax Residency Certificate, OR
  • Staying for 60 days or more in a tax year, provided additional conditions are met.

Excluded Nationalities:
There are no official nationality-based restrictions for the program.

Important Notes:
  • This program does not offer a direct (accelerated) path to citizenship. Citizenship is only attainable through the standard naturalization process after long-term residence.
  • Obtaining citizenship requires passing a Greek language exam at Level B2.