The popularity of Cyprus stems from various factors, such as its stable economic and political environment, its EU member state status, efficient taxation system, sophisticated infrastructure and the high quality yet low cost of living. Thanks to its enviable lifestyle, low crime and English-speaking population, Cyprus has attracted foreign residents for decades. With its excellent healthcare and private schools, many families have found an ideal home away from home in Cyprus. An Immigration Permit is granted for an indefinite duration to Non-EU nationals who invest in Cyprus.

Obtaining Permanent Residency in Cyprus

Benefits:

• A non-EU national has the right to permanently reside in Cyprus
• Exempt from immigration exit and entry procedures
• The permit is granted for an indefinite duration and family can also obtain permit
• No Greek language proficiency requirements
• No need to stay in Cyprus, but must visit at least once every two years
• Family/spouse also eligible, children under 18 years old and financially dependent children up to 25 years old
• Time frame for completion of the process maximum 2 months

Criteria:

• Must purchase one or two new real estate properties with total purchase cost of at least €300,000, excluding VAT
• A secure and steady annual income of at least €30,000 derived from abroad. Must confirm that you do not intend to be employed in Cyprus. Deposited funds transferred from abroad (minimum amount €30,000) in a bank operating in Cyprus in a 3-year fixed deposit account
• A certificate of clean criminal record from your country of residence

For more information contact the Ministry of Interior of Cyprus or InvestCyprus.

Disclaimer: This information does not represent legal advice and is intended solely for general awareness. Any liability for any loss resulting from acting on the basis of this information is expressly disclaimed.