How to get a residence permit in Cyprus

For foreigners who move to Cyprus, permanent residency status allows them to stay in the republic without time limitations. The electronic ID card only needs to be renewed once every 10 years. Permanent residency can be obtained through employment, living in the country for 5 years with a temporary residence permit, or investments starting from €300,000 (excluding VAT of 5–19%) in real estate, stocks, or fund units.

Obtaining permanent residence takes about 2 months, making the process one of the fastest in Europe. Applications can be submitted remotely. Participants in the investment program are not required to reside in the country to maintain their status. It is enough to visit the country at least once every 2 years, which is convenient for entrepreneurs and individuals engaged in active international activities.

Holders of permanent residency can apply for a Schengen visa through a simplified procedure. Although the republic is not yet part of the agreement, its status as an EU member state makes the visa process faster and more convenient. This is important for business trips and frequent travel to Europe.

After 8 years of legal residency, foreigners can apply for citizenship, which provides visa-free access to more than 170 countries. Previously, Cypriot passports were issued in exchange for investments of €2 million or more, but this program was terminated in 2020.

Benefits of permanent residence in Cyprus through investments

• Attractive tax system. The country offers some of the most favorable tax conditions in Europe. Local residents are exempt from dividends, interest, inheritance, and gifting taxes. Income tax rates range from 0 to 35%: tax residents living in the country for more than 183 days per year pay it on worldwide income, while non-residents only pay tax on income earned within Cyprus. The corporate tax rate is one of the lowest in the EU, just 12.5% (except for large corporations with annual turnover exceeding €750 million). This creates attractive conditions for entrepreneurs.
• Business opportunities. Permanent residents have the right to register and manage companies without restrictions. The republic offers a favorable environment with a stable legal system and access to the European market. It is a major financial and logistics hub with a convenient platform for international trade, the IT industry, and other business sectors.
• Free health insurance. Permanent residents can benefit from the national medical system GHS (General Healthcare System), which covers a wide range of services, from routine check-ups to complex surgical procedures. State insurance significantly reduces treatment costs and provides quality medical care. Local clinics meet European standards, with many doctors trained at leading EU universities.
• Remote application process and speed of procedure. The permanent residence application process takes just 2 months, making it one of the fastest in Europe. Documents can be submitted remotely. Investment program participants don't need to live in the country to maintain their status. It's sufficient to visit the country at least once every 2 years. This is convenient for entrepreneurs and people engaged in active international activities.
• Family inclusion option. In most cases, permanent residency applicants can legalize with their family members. For example, investment program participants are allowed to include their spouse, minor children, financially dependent unmarried student children under 25 years of age, and children of any age with physical or mental limitations.
• Pathway to citizenship. After 8 years of residency, permanent residents can apply for citizenship through naturalization. A Cypriot passport opens up broad opportunities, including visa-free entry to more than 170 countries, the right to work and study anywhere in the EU, and the ability to pass status on to future generations.

Permanent residence in Cyprus through real estate investments

Benefits of obtaining a residence permit in Cyprus through property purchase

Legalization by acquiring property in Cyprus is suitable for foreigners wishing to relocate to the republic for an extended period. It allows them to immediately obtain housing in an area with a mild climate, high level of safety, modern schools and clinics, and numerous attractions such as the ancient sanctuary city of Kourion, St. Elias Fortress, Kykkos Monastery, Aphrodite's Cave, Nissi Beach, and the picturesque landscapes of Troodos and Protaras. Investment program participants can choose between various types of properties, from cozy apartments in cities to spacious villas by the sea.

Additionally, local real estate is a profitable investment asset. The islands attract many tourists, expatriates, and entrepreneurs, supporting the growth of housing prices. In the first quarter of 2024, the average cost increased by 7.8% year-on-year, in the second quarter by 8%, and in the third quarter by 6.5%. With such dynamics, owners of local houses and apartments can expect substantial profits from resale in the long term.

Another option for return on investment and profit generation is rental. As of the first quarter of 2025, the average profitability of local housing is 4.77% per annum. Investors interested in rental income often purchase properties in Limassol (5.29%), Nicosia (4.78%), and Paphos (4.25%).

Conditions for obtaining permanent residence in Cyprus

The permanent residence permit application procedure includes the following steps:

• Document preparation and bank account opening. The investor needs to collect, translate, and apostille documents. They must also open an account in a local bank and deposit €50,000.
• Fulfilling investment conditions. The applicant purchases real estate, shares, or units and obtains documents confirming the investment. If a commercial property, apartments, or houses in Cyprus were purchased under the program, the sale contract or certificate of ownership must be submitted to the Land Department.
• Application submission. The foreigner or their authorized representative submits an application for permanent residency to the migration department. The application is reviewed and forwarded to the Ministry of Interior. A decision is made within two months.
• Receiving permanent residency. If the application is approved, the investor must personally visit the republic with their family members. They can receive permanent residency after providing biometric data.

Investment program participants must meet the following requirements:

• No criminal record for the main and dependent applicants;
• No entry restrictions to EU countries and the United Kingdom;
• Legal source of income;
• Impeccable personal and business reputation;
• No employment in the republic;
• Medical insurance policy;
• Annual income of €50,000 or more from foreign sources (the amount increases depending on the number of dependent applicants: by €15,000 for a spouse and by €10,000 for each child);
• Owned or rented housing in the country (even if the applicant invests in commercial properties, shares, or units, they must confirm a residential address in the country).

Documents for obtaining permanent residence in Cyprus

The standard list includes the following documents, which must be translated into English or Greek and certified with an apostille:

• Completed application form;
• Valid passports for all applicants;
• Investor's biography;
• Income declaration;
• Confirmation of fulfillment of investment conditions;
• Confirmation of residence address in the country (certificate of ownership, purchase agreement, or rental contract);
• Statement of no employment in the republic;
• Certificate of no criminal record for the investor and spouse;
• Marriage and birth certificates;
• Medical insurance policy for each applicant;
• Documents confirming that the investor's adult children are financially dependent on them and enrolled in an educational institution.

Processing times and cost of a residence permit in Cyprus

The application processing procedure at the Ministry of Interior takes 2 months. The cost of obtaining permanent residency depends on the chosen investment asset, the number of family members applying for status together with the applicant, and other factors.

Cost of permanent residency when purchasing real estate

Other ways to apply for a residence permit in Cyprus

In addition to investments, permanent residency can be obtained on the following grounds:

• Employment. Individuals offered permanent employment and investors working in their own company can obtain status. In the second case, capital of approximately €260,000 from abroad is necessary, which will be used for the organization's activities in the republic.
• Family reunification. Spouses of citizens of the republic and their minor children from previous marriages can apply for status. Parents and in-laws of Cypriots can also become permanent residents.
• Residing in the country for 5 years. After 5 years of legal residence on the islands, foreigners can get a permanent residence permit in Cyprus.