Cyprus residence by investment
In 2016, the Ministry of Interior announced an expedited procedure for granting an immigration permit to foreign investors from non-EU countries.
If a third-country national wishes to apply for an immigration permit only, and not as part of a naturalisation application, then the following criteria below apply.
If an immigration permit is needed as part of a naturalisation application en route to Cyprus passport, different rules apply. Read more about Cyprus Citizenship by Investment.
Financial criteria for Cyprus residence by investment
- Purchase of a real estate with market value of at least €300,000, of which €200,000 must have been already paid with the rest to be settled in an account in a Cypriot financial institution. The confirmation of purchase may be in the form of title deeds or a sale contract in main applicant’s name of their spouse’s name.
This purchase can be made through a legal entity if the main applicant and/or their spouse are the sole shareholders or ultimate beneficial owners of that entity, and that entity must be based in Cyprus or any EU/EEA state.
The purchased real estate must include one or two homes, or one home and a shop or an office, subject to terms and conditions.
- A minimum of €30,000 must be deposited in a financial institution in Cyprus and pledged for at least three years. A confirmation letter from that institution must be provided.
- Annual income must not be lower than €30,000, including a spouse’s income. Additional €5,000 or 8,000 must be added for each dependant – spouse and children or parent/parent-in-law correspondingly.
- All the amounts mentioned above must be transferred from abroad.
Eligibility criteria for Cyprus residence by investment
- Clean criminal record.
- Declaration of no intention to undertake an employment in Cyprus.
- Purchase of real estate within one year after the immigration permit is granted.
- Regular visits to Cyprus; a period of absence of more than 2 years cancels the permit.
Immigration permit fee €500 is payable upon application.
Dependants include spouses, minor children, financially dependent unmarried children aged 18 to 25 who are full-time students of higher education, and parents/ parents-in-law.
Financially independent children over the age of 18 can also be granted an immigration permit subject to terms and conditions.
When applying for an immigration permit, spouses and minor children can be included in the main applicant’s application, while adult children and parents must apply for the permit separately.