Cyprus Permanent Residency

Cyprus, a jewel in the Mediterranean, offers a unique permanent residency program designed for investors seeking a vibrant European Union lifestyle. Renowned for its robust governance, business-friendly atmosphere, and breathtaking vistas, Cyprus beckons investors to enrich its diverse community. Investing in Cyprus property is not just about embracing a luxurious lifestyle; it’s about securing significant personal and financial benefits, tapping into stable and highly profitable investment opportunities, and unlocking the doors to Europe. Whether for living, retirement, or relocation, Cyprus is an exceptional choice for investors worldwide, promising long-term returns and a secure future.

Key Requirements for Eligibility

To be eligible for Cyprus permanent residency through investment, applicants must:

• Make a minimum real estate investment of €300,000 plus VAT in residential or commercial properties.
• Prove an annual income of at least €50,000 from abroad, with an additional €15,000 for a spouse and €10,000 for each child. Under specific conditions, financially independent adult children may also be included, and the required investment amount may be adjusted accordingly.
• Maintain a clean criminal record from their country of origin.

To retain residency, applicants must verify annual property maintenance and, every three years, provide proof of a clean criminal record and valid health insurance for themselves and adult family members.

Benefits of Investing in Cyprus Property

Investing in property in Cyprus offers not just a piece of paradise but also permanent residency and numerous personal and financial advantages:

• Investment Growth: EU membership and natural beauty boost property demand, ensuring investment growth.
• Low Cost of Living: Experience a lower living cost than many other EU regions.
• Tax Benefits: Enjoy a favorable tax system within a pro-business environment.
• Permanent Residency: Property ownership in Cyprus facilitates obtaining a permanent residency permit, ensuring family stability and security.

Main Conditions and Dependents

The Cyprus permanent residency program welcomes non-European citizens who can invest in properties valued at over €300,000 plus VAT. The program benefits spouses, financially dependent children under 18, and unmarried children aged 18 to 25 who are students and economically dependent. The applicant’s parents and parents-in-law may also be eligible for residency through a straightforward application process.

Advantages of Holding Cyprus PRP

Holders of the Cyprus Permanent Residence Permit (PRP) benefit from:

• Quick access to Europe, with an estimated application processing time of two months.
• Eligibility for a 1-year Schengen visa from any European Embassy in Nicosia.
• Permanent residency without renewal requirements, offering lifetime benefits.
• Access to British Universities in Cyprus, excellent healthcare, no inheritance tax, potential rental income, and a high quality of life.