Permanent Residency

PERMANENT RESIDENCY IN CYPRUS

Cyprus continues to be a favoured choice for foreign residents due to its convenient and accessible geographical location in the eastern Mediterranean, its warm climate with over 300 days of sunshine each year, friendly hospitality, widely spoken English, coupled with a low cost health system, access to high standard education and the lowest tax rate in Europe.

In an effort to encourage foreign investment and to assist economic development the Cyprus government has recently simplified the Permanent Residency Scheme so that Non EU Citizens who purchase property in Cyprus can obtain a Residence Permit within 2 months.

We use an experienced legal team who specialise in immigration and will help you with the financial and application requirements. They will assist you in obtaining the relevant paperwork and will provide step-by-step guidance through the application process.

FAST TRACK RESIDENCY

Applicant Requirements:

  • Purchase a property of a minimum value of €300,000 plus VAT from funds transferred from abroad. €200,000 must be paid prior to the application.
  • Deposit a minimum of €30,000 from abroad into a Cyprus bank account locked in for 3 years.
  • Prove a minimum annual income of €30,000 deriving from abroad transferred to a Cyprus bank account.
  • Visit Cyprus at least once every two years.

Criteria:

  • Money for the acquisition of real estate must come from abroad through legal sources
  • Applicants must have evidence of sufficient income from abroad
  • Applicants must have a clean criminal record

Full details from our legal partners on Permanent Residency.

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