Permanent Residence Permit in Cyprus (permanent residence)

Permanent Residence Permit in Cyprus (permanent residence):
In May 2013, the Council of Ministers of the Republic of Cyprus introduced an accelerated procedure for obtaining a permanent residence permit (category F). Foreign citizens who have made major investments in the country’s economy can obtain a permanent residence permit (permanent residency) on the basis of paragraph 6 (2) of the Regulation on Foreign Citizens and Immigration.
Investors must fulfill the following requirements:
  • Purchase of a residential or other type of property in Cyprus, worth EUR 300,000 plus VAT
  • Stable annual income outside Cyprus
  • Transfer of funds from a foreign account to a savings account of a Cypriot bank equal to the amount of EUR 30,000.

Advantages of obtaining permanent residence in Cyprus:

  • Timeframe of approximately 3 months
  • Applies to all family members, including children under 25 years old and parents on both sides
  • No obligation to permanently reside in Cyprus
  • Right to live in the country all year round without leaving it
  • No renewal requirement; valid for life
  • Right to own a business in Cyprus (receive dividends and be a tax resident of Cyprus)
  • Free movement to Bulgaria, Romania and Croatia