Cyprus permanent residency

Cyprus Permanent Residency is a legal status that entitles Non-EU citizens and qualifying dependents to enter and stay as permanent residents in Cyprus with no limitations. It does not expire; therefore, the holder does not need to renew it. It is also known as a Cyprus immigration permit or unlimited residency.

To obtain a Permanent Residency permit in Cyprus with the fast-track option, the applicant must invest at least €300,000 in real estate. This residency can cover the whole family and does not expire.

A holder of such a permit can apply for Cyprus citizenship after five years of residing in the country.

The legal basis of the permanent residence scheme is Regulation 5 and 6(2) of the Aliens and Immigration Regulations.

Permanent residence programs

A PR in Cyprus is divided into several main categories.

Permanent residency by investment

"Cyprus residency by buying a property" type of permits is for investors who purchase property in Cyprus and have sufficient income from abroad:

• Category 6.2 Fast Track Permanent Residency can be obtained by investing at least €300.000 (plus VAT) in a brand-new house or apartment in Cyprus (the list of suitable real estate).
• Permanent Residency Category F requires an investment in real estate of at least €100.000 (plus VAT) and annual income from abroad which covers living expenses while residing in Cyprus, without working or doing business. The required yearly income starts from €9568 for one applicant plus €4613 for each dependent person.

Here is an example of the Cyprus permanent resident card obtained through investment:

Residency with the right to work

This type of permits is for owners and employees of companies of foreign interests:

• Category C: Investors who work for their own company provided they bring from abroad a capital of about €260,000 which will be used for their company activities in Cyprus.
• Category E: Persons who have been offered permanent employment.

To find out more about this type of permits read about Cyprus business visas.

Other types of permanent residency in Cyprus

Permanent Residence by 5 years of stay

Non-EU citizens who had resided legally and continuously in Cyprus for five years before the filing of the application and had for the entire prementioned period valid Cyprus temporary residence card are entitled to apply for the so-called long-term residence permit.

Permanent Residency for EU citizens

This type of residency can be applied by European Union citizens and their family members also Citizens of EU, after 5 years of continuous legal residence in Cyprus.

Permanent Residency by marriage to Cypriot

Applicants married to Cypriot Citizen, their minor children from a previous marriage and also parents of the Cypriot citizen or parents-in-law are allowed to apply for residency permit with an unlimited duration which entitles them to residency rights. Read more about PR by marriage.

Fast-track procedure for obtaining a PR

Requirements for Cyprus permanent residency by investment

The following criteria apply to investors looking for Cyprus residency:

• The investor must buy a new house or apartment or any of the combinations mentioned below, from a development company for the minimum amount of €300.000 plus VAT (VAT is 19% or 5% for the first property bought for own use).
• The investor must register his sales agreement at the Land Registry and pay at least €200.000 plus VAT to be able to apply. The payment must be made in the bank account of the seller in Cyprus, and the money should be transferred from abroad.

The delivery date does not matter, so properties under construction can be included.

The property can be bought in the name of a company in which the absolute owner or ultimate beneficiary will be the investor or his/her spouse. The investor may buy up to two properties provided the total sales price is as mention above and can be any of the following combinations:

• Two residential properties (houses or apartments)
• Residential property and a shop (up to 100 sq.m)
• Residential property and office (up to 250 sq.m)

If the investor wishes to sell the property, he must replace it with another of the equal or higher value and to follow all the conditions mentioned above.

Annual Income

The investor, together with his/her spouse, must prove yearly income from abroad of minimum €30.000, which is increased by €5.000 for each dependent (spouse and children). It is also increased by €8.000 for each dependent parent or parent-in-law and provided this is satisfied they can also apply and get the permanent residence permit.

It can be any income and usually includes salaries, pensions, dividends, fixed deposits, rents etc.

Family members

The Permanent Residency permit covers the spouse and children up to 18 years old.

Also, children between 18 and 25 years old can apply provided they fulfil the following:

• Financially dependent on the investor
• Unmarried
• University students abroad with a minimum of six months remaining study period from the date of the submission of the application
• To prove additional annual income of €5.000 for each

The PR is kept by the children for life even if they exceed the age of 25 or do not continue to fulfil the above (unmarried, financially dependent, students).

However, their future spouse or child cannot be added as dependents on their PR. If children want to study at the University of Cyprus, they must apply for a temporary residence permit as students. When they finish their studies regardless of their age, they will be able to apply for PR with the only condition of the extra annual income of €5000.

Parents & Parents in law

The parents and parents-in-law of investor can also get PR without buying additional property. The only requirement is to show an additional annual income of €8.000 for every such parent. And to provide the application documents as mentioned in the list below.

Other conditions

Applicants must also comply with the below:

• Provide a clean criminal record from their country of residence
• Should not be regarded as a danger to the public order/security of Cyprus

Permanent Residency in Cyprus Category F

To be eligible for this type of permit, the applicant mainly needs to show:

• Property purchase

  Cyprus permanent residency category F is flexible and does not have a strict requirement of property purchase. However, it is recommended to buy a property in Cyprus of any amount. It can even be a resale property. The money for the purchase does not need to be transferred from abroad.

• Annual income

  The applicant must show a yearly income of at least €9568 for one applicant plus €4613 for each dependent person. This income must be from abroad and can be from salaries, pensions, stock shares, rents.

• Bank deposit in Cyprus

  The applicant should deposit in his bank account in Cyprus an amount of approximately €15.000 to €20.000, which is not pledged it is a simple deposit, the money can be used after applying.

• Family members
  

  Only children up to the age of 18 years old can apply as a dependent, and their permanent residency will be valid until they become 18 years old. The parents of the applicants cannot apply as dependents.

It is also possible to apply for the PR category F with a rented property. However, the application could be declined by the Migration department. Based on our experience, we recommend applying after purchasing a property.

Conditions and restrictions of the permanent residency program

• The holder must visit Cyprus once every two years or the residency permit would be cancelled automatically.
• The holders are not allowed to work in Cyprus. However, they can be shareholders in a Cypriot company, which can do business in Cyprus or abroad, and receive dividend income from this company.
• Cypriot permanent residence permit does not give any visa-free travel to any other countries or European Union member states, as it is only for Cyprus.

Category F only

• The processing time at the moment cannot be estimated (updated - January 2023)
• The children of the applicant will lose it once they become 18 years old

How to get a permanent residence permit

To obtain a permanent residency permit in Cyprus, the applicant needs to apply with the following required documents:

• Copy of valid passport of the applicant, spouse and children
• Curriculum Vitae for the applicant
• Marriage Certificate duly certified (official and certified translation)
• Children’s Birth Certificates duly certified (official and certified translation)
• Original Criminal Record Certificate (Issued from the country of residence and submitted with an official and certified translation)
• Documents to prove annual income from abroad
• Title of ownership or contract of sale of property in Cyprus
• Bank Swift for the payment of the purchase price & receipts of payment
• Category F only: Original Letter from a bank in Cyprus OR Bank Statement to show the balance of €15.000 - €20.000

Please note that Criminal Record Certificate, marriage & children birth certificates should be translated in English and be certified by the Ministry of foreign affairs (or Embassy) of the country that will issue them. And also by the Cyprus Embassy of that Country, or bear the APOSTILLE stamp.

Application procedure

The application to obtain a permanent residency can be submitted by the lawyer of the investor who does not need to be present at the submission. Those applications are only provided at the Civil Registry and Migration Department at Nicosia, not at district immigration units of each city.

After the submission, the applicants are required to give a photo and fingertips so that on approval, the residency cards can be issued. This can be done at any time before the final approval at any migration district unit in any city.

Below are the addresses of each city’s immigration unit.

Nicosia	Agamemnonos 6, Engomi, 2411 Nicosia
Limassol	Franglinou Rousvelt 223, Zakaki, Building ¨D. Nikolaou¨, 2nd floor, 3046 Limassol
Larnaka	Piale Piasha 75, 6027 Larnaka
Pafos	Eleftheriou Venizelou & Kaningos 22, 2nd floor, 8021 Pafos
Famagusta	Eleftherias 83, Tatolos Bld, Derynia Plaza, 1st floor, 5380 Derynia

On approval, the lawyer will collect the PR cards.

Processing time

The fast-track Cyprus residency by investment is obtained in about two months. On approval, the lawyer can collect the cards on behalf of the investors.

As of March 2023, the processing time for the examination of the application under category F at the moment can not be estimated. The applications are submitted normally but not processed until further notice by the immigration department.

Cyprus government fees

The cost of the fast track permanent residency program is €300.000, and it does not include the following fees:

Applicant / applicants’ spouse / children under 18	€500 for all €70 for each person for registration
Adult children & parents (each)	€500 €70 for registration

The fees are the same for Category F permits.

Benefits

• Permanent residency in Cyprus is valid for life.
• The whole family and parents can apply to get a residence permit.
• A Permanent resident of Cyprus after completing five years (total of 1825 days) of legal stay in Cyprus is entitled to apply for Cyprus Citizenship. This is the naturalisation scheme based on years of residence (M127).
• Residency card is obtained within two months through the fast-track process.
• PR holder might be eligible to apply for becoming Cyprus Tax resident with the advantage of being exempt for worldwide dividend and passive interest income and from the profit of the sale of securities.
• PR holder benefits by the newly established General Healthcare system and is entitled to free healthcare.
• PR Category F is a flexible procedure which allows the holder to get a permanent residency in a European country with a minimal investment.

Our services

Our team of immigration lawyers in Limassol Cyprus is ready to advise and prepare any the above permanent residency applications. We will support you through all the procedure from initial property purchase, advice on required documents, preparation and submission of the immigration permit applications, collection of the PR cards.

Contact us to receive a free personal consultation and learn about our competitive fee services.

Frequently Asked Questions