Last reviewed on March 29, 2024
Cyprus Permanent Residence
Tax incentives and access to the European business market
€300,000+
Investment amount
3+ months
Obtaining period
Once every 2 years
Mandatory visit to
the island
Non-EU citizens obtain Cyprus permanent residence by investing at least €300,000 in real estate or securities.
Permanent residents may not pay taxes on global income, including dividends and capital gains. The country has no inheritance tax and low income and property tax rates.
The Cypriot jurisdiction is one of the best places to register the tax residency of an international business or open a new company. The corporate tax rate in the country is only 12,5%.
A permanent resident can obtain Cyprus citizenship after five years of living in the country. Citizens travel without visas to 170+ countries, including the European Union and the UK.
Benefits of Cyprus permanent residence
1
Tax optimisation
There is no tax on global income and inheritance and low property and income taxes rates. The corporate tax rate is one of the lowest in Europe — 12.5%.
There is no tax on global income and inheritance and low property and income taxes rates. The corporate tax rate is one of the lowest in Europe — 12.5%.
2
Income from investments in real estate
Prices on Cypriot real estate grow by 1—4% every year. The same yield is applied to leases of residential property.
Prices on Cypriot real estate grow by 1—4% every year. The same yield is applied to leases of residential property.
3
Prospect of obtaining a Cypriot passport
Permanent residence is issued for life. Five years after receiving permanent residence, its holder can apply for Cyprus citizenship and become a full-fledged citizen of the European Union.
Permanent residence is issued for life. Five years after receiving permanent residence, its holder can apply for Cyprus citizenship and become a full-fledged citizen of the European Union.
4
Opportunity to own a business
Unlike under many other investment immigration programs, investors with Cyprus permanent residence can buy shares in local businesses, open their own companies or transfer operating companies to the island’s jurisdiction.
Unlike under many other investment immigration programs, investors with Cyprus permanent residence can buy shares in local businesses, open their own companies or transfer operating companies to the island’s jurisdiction.
5
Creating a “safe haven” or moving to Cyprus
Investors may visit Cyprus anytime and stay for as long as they wish. They may move to the country or create a “plan B”, with housing and financial safety cushions in Cypriot banks.
Investors may visit Cyprus anytime and stay for as long as they wish. They may move to the country or create a “plan B”, with housing and financial safety cushions in Cypriot banks.
6
High quality of life
Cyprus has been included in the IMF list of developed economies since 2001. According to the Human Development Index, Cyprus ranks 29th in the world.
Cyprus has been included in the IMF list of developed economies since 2001. According to the Human Development Index, Cyprus ranks 29th in the world.
7
Access to quality healthcare and education
Cyprus residents may get an education in local schools and universities and turn to medical help from local facilities.
Cyprus residents may get an education in local schools and universities and turn to medical help from local facilities.
8
Fast procedure
Application processing lasts for about two months, and the entire procedure takes 3+ months.
Application processing lasts for about two months, and the entire procedure takes 3+ months.
9
Residency for the whole family
Investors’ spouses and children may participate in the program.
Investors’ spouses and children may participate in the program.
10
Investment return
If an investor acquires citizenship or ordinary permanent residence after living in the country for 5+ years, they may return the investment, for example, by selling their properties.
If an investor acquires citizenship or ordinary permanent residence after living in the country for 5+ years, they may return the investment, for example, by selling their properties.
Get maximum information about the process
Step by step procedure
Requirements for applicants
Necessary documents
Answers to frequently asked questions
Who can get Cyprus permanent residence
Investment options for Cyprus permanent residence
The investor can choose from several investment options of €300,000: buy residential or commercial real estate, shares of Cypriot companies or units of local investment funds.
If the applicant has chosen to invest in non-residential property, buying or renting housing on the island will also be necessary. In this case, there are no space or cost requirements.
Investments can be returned only after the permanent residence expiration or obtaining citizenship.
1 option
Purchase of residential property — €300,000+
The investor can buy one or two new properties with a total value of €300,000 plus VAT. The standard VAT rate is 19%. But if the property is the only housing and the investor plans to live there and not rent it out, VAT is reduced to 5%. It is not possible to buy a resale property.
Immigrant Invest has a database with hundreds of reliable properties, including those at the construction stage, which our clients can buy without a commission. Our lawyers will organize a trip and accompany investors when choosing a property.
2 option
Purchase of commercial property — €300,000+
The investor can buy one or two commercial properties with a total value of €300,000 plus VAT. The property can be new or for resale. Offices, shops, hotels or a combination worth at least €300,000 qualify as commercial properties under the option.
3 option
Shares of Cypriot companies — €300,000+
Equity investment in a Cypriot company that conducts business and employs at least 5 people in Cyprus.
4 option
Purchase of securities — €300,000+
Investments in units of Cypriot investment funds in the form of AIF, AIFLNP, and RAIF.
Expenses for a family of 3
The investor, a spouse and a child
Individual cost calculation for Cyprus permanent residence
Get an individual calculation for your family with all associated costs and government fees
Real estate under the Cyprus permanent residence program
Cyprus, Limassol
374 m² — 993 m²
4 
4 
Step-by-step procedure for obtaining Cyprus permanent residence
Obtaining Cyprus permanent residence by investment takes about two months. Everything can be done remotely, so flying to the island is unnecessary. The applicant only needs to collect documents and select an investment object.
1 day
Preliminary Due Diligence
Due Diligence is a mandatory step in any residency program for investors. Its results define whether the investor becomes a resident of the country.
To increase the chances of approval, Immigrant Invest conducts preliminary Due Diligence.
A certified Anti Money Laundering Officer checks the investor’s documents and searches for information about them in international databases. If there is a problem, we suggest a solution, such as attaching an affidavit to the application or choosing another program.
The check is confidential and takes only one business day. Thanks to it, the rejection risk reduces to 1%.
Take a short anonymous test and learn more about the nuances of Due Diligence checks
Up to 2 weeks
Preparation of documents
We help collect, translate and apostille documents, get medical insurance and conclude a real estate lease agreement.
We hand the documents over to our agent in Cyprus when everything is ready.
The main set of documents includes:
A completed MIP1 application form.
Originals and copies of valid passports of all the applicants.
A main applicant’s biography.
A declaration confirming an annual income of at least €50,000.
A confirmation of investment.
Proof of a permanent address in Cyprus.
A statement on the absence of employment in Cyprus.
A certificate of no criminal record for the main applicant and their spouse.
A marriage certificate.
A birth certificate.
Medical insurance for the whole family.
Up to several weeks
Fulfilment of investment conditions
When buying a property, we submit documents to the Department of Lands and Surveys of Cyprus, including an application to reduce the VAT rate to 5%. The investor transfers €300,000 and VAT to the developer.
We have our own database of properties, including those under construction. We will help you decide on the type of investment or choose a property, draw up a contract of sale and conduct a deal.
1 day
Application to the Cyprus Migration Service
The applicant does not have to fly to the island as our agent in Cyprus can submit all the documents.
2 months
Application processing and obtaining permanent residence
The decision to grant permanent residence is made within two months. Within a year after the approval, the investor and their family must visit the island to submit biometric data and obtain permanent residence.
Case studies
Permanent residence and Immigrant Invest stay with you
Everyday life issues remain after obtaining permanent residence in Cyprus as the investor has to communicate with banks, the migration service and other officials. We will help to get the necessary documents and make everything go smoothly.
Schedule a meeting
Let's discuss the details
Schedule a meeting at one of the offices or online. A lawyer will analyze the situation, calculate the cost and help you find a solution based on your goals.
Lawyer, AML Compliance officer, certified CAMS specialist
