St. Julians, Malta
Dragonara Business Centre, Office 506, Dragonara Road,
Paceville, St Julian’s, STJ 3141 Malta
+356 (277) 811-04
Vienna, Austria
Doblhoffgasse 9, 1010
+43 (650) 540-49-79
All offices

Cyprus Permanent
Residence

Tax incentives and access to the European business market

Download the guide Calculate the cost
€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%.

2
Income from investments in real estate

Prices on Cypriot real estate grow by 14% 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 and is passed on to children. 5 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 the Cyprus permanent residence can buy shares in local businesses, open their own companies or transfer operating companies to the island’s jurisdiction.

5
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 31st in the world. The island has the lowest crime rate in Europe.

Get maximum information about the process

  • Step-by-step procedure
  • Requirements for applicants
  • Necessary documents
  • Answers to frequently asked questions
Download the guide
PDF, 36 pages, 12 MB

Who can get
Cyprus permanent
residence

Investor
  • Over 18 years old
  • No criminal record or prosecution, restrictions or bans on the entry to the EU countries and the UK
  • Not under sanctions
  • Impeccable personal and business reputation
  • Legal income of €30,000 per year for the main applicant
  • Owned or rented accommodation in Cyprus
  • Medical report
  • Medical insurance
Spouse or partner
Children under 18

Including children from previous marriages

Children under 25
  • Students
  • Financially dependent on the investor 
  • Unmarried
Children of any age

With physical or mental disabilities

Parents

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.

Investor Married couple Family of 3 or more people
Purchase of a residential property €300,000+ €300,000+ €300,000+
VAT ? The standard rate is 19%, for the only housing — 5% €15,000+ €15,000+ €15,000+
Legal services 1% of the transaction amount 1% of the transaction amount 1% of the transaction amount
+ €500 per each additional applicant
Confirmation of income ? The annual minimum income must be deposited in a Cypriot bank account and kept for three years €30,000+ per year €35,000+ per year

€40,000 per year

+ €5,000 per family member starting with the fourth one

+ €8,000 per parent

Immigration submission fee €500 €500

€500

+ €500 per child over 18 and parent

Registration fees €70+ €140+

€210+

+ €70 per family member starting with the fourth one

Fee for a permanent residence card €70 €140

€210

+ €70 per family member starting with the fourth one

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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.

Investor Married couple Family of 3 or more people
Purchase of a commercial property €300,000+ €300,000+ €300,000+
VAT ? The standard rate is 19% €57,000+ €57,000+ €57,000+
Legal services 1% of the transaction amount 1% of the transaction amount 1% of the transaction amount + €500 per additional applicant
Confirmation of income ? The annual minimum income must be deposited in a Cypriot bank account and kept for three years €30,000+ per year €35,000+ per year

€40,000 per year

+ €5,000 per family member starting with the forth one

+ €8,000 per parent

Immigration submission fee €500 €500

€500

+ €500 per child over 18 and parent

Registration fees €70+ €140+

€210+

+ €70 per family member starting with the fourth one

Fee for a permanent residence card €70 €140

€210

+ €70 per family member starting with the fourth one

Show all expenses Show less
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.

Investor Married couple Family of 3 or more people
Investment option:
1. Shares of Cypriot companies
2. Units of Cypriot investment funds
€300,000+ €300,000+ €300,000+
Confirmation of income ? The annual minimum income must be deposited in a Cypriot bank account and kept for three years €30,000+ per year €35,000+ per year

€40,000 per year

+ €5,000 per family member starting with the forth one

+ €8,000 per parent

Immigration submission fee €500 €500

€500

+ €500 per child over 18 and parent

Registration fees €70+ €140+

€210+

+ €70 per family member starting with the forth one

Registration fees €70 €140

€210

+ €70 per family member starting with the forth one

Show all expenses Show less

Expenses for a family of 3

The investor, a spouse and a child
Purchase of a residential property Purchase of a commercial property Investments in securities
Investment €300,000+ €300,000+ €300,000+
VAT €15,000+ €57,000+
Confirmation of income ? The annual minimum income must be deposited in a Cypriot bank account and kept for three years €40,000 per year €40,000 per year €40,000 per year
Immigration submission fee €500 €500 €500
Registration fees €210 €210 €210
Fee for a permanent residence card €210 €210 €210

Individual
cost calculation
for Cyprus permanent
residence

Get an individual calculation for your family with all associated costs and government fees

Get the cost calculation
We will send you a quote by email within 1 hour.
Selection of real estate

Individual selection
of properties
for investment

  • Discuss your tasks and goals
  • Choose between properties from reliable developers
  • Get fully prepared and verified documents for a purchase
Natalia Oganesyan
Real Estate Chief
Operations Officer,
RICS certified professional
Schedule a meeting
Do you prefer messengers? WhatsAppTelegram

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

Preliminary Due Diligence

1 day

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%.

Pass a quick test and learn the nuances that can prevent you from obtaining a second citizenship
Up to 2 weeks Preparation of documents

Preparation of documents

Up to 2 weeks

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:

  1. A completed MIP1 application form.
  2. Originals and copies of valid passports of all the applicants.
  3. A main applicant’s biography.
  4. A declaration confirming an annual income of at least €30,000.
  5. A confirmation of investment.
  6. Proof of a permanent address in Cyprus.
  7. A statement on the absence of employment in Cyprus.
  8. A certificate of no criminal record for the main applicant and their spouse.
  9. A marriage certificate.
  10. A birth certificate.
  11. Medical insurance for the whole family.
Up to several weeks Fulfilment of investment conditions

Fulfilment of investment conditions

Up to several weeks

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 €200,000 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

Application to the Cyprus Migration Service

1 day

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

Application processing and obtaining permanent residence

2 months

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.

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.

Renewing permanent residence cards

We collect and submit the necessary documents and take over communication with officials.

Registering tax residence

We request a tax resident status to the tax office after a standard stay in the country for more than 183 days a year or 60 days for property owners who run a Cypriot company.

Opening a bank account

We help to choose a bank and prepare documents for opening an account.

Obtaining permanent residence for family reunification

We prepare the documents and apply if you want your parents or close relatives to move to Cyprus.

Selecting real estate

We have a realty database and work directly with Cypriot developers, so you do not have to pay a commission. We help choose a region, type of real estate and suitable property, including at the construction stage. We accompany you when selecting a property and making a deal.

Managing property

We conclude a contract for the management of the real estate. We undertake the preparation of housing, the search for tenants, the conclusion of an agreement, rent and taxes.

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.

Evgeniya Morozova
Head of the Legal Department
Schedule a meeting
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Answers to frequently asked questions

Are investments for Cyprus permanent residence returnable?

Yes, they are. All investments can be returned after the permanent residence expiration or obtaining citizenship. If you sell securities before this time, the status will be cancelled. If the investor sells real estate, they must buy another property for the same or higher price.

What is the minimum investment amount?

The minimum investment amount is €300,000. The investor also needs to open a bank deposit of €30,000 per person, undergo Due Diligence with a fee of €15,000, pay administrative and registration fees of €570 per person, as well as the fee for a permanent residence card of €5,000 and get medical insurance. If the applicant invests in non-residential property, it will also be necessary to buy or rent a property on the island.

How to get Cyprus citizenship?

The citizenship by investment program is suspended in Cyprus. Previously, an investor could get the country’s passport by investing 2 million euros.

A Cypriot permanent resident can become a citizen after 5 years of living on the island. Additionally, they confirm knowledge of the language and culture of Cyprus, as well as pass an interview at the migration service.

What obligations arise after obtaining permanent residence in Cyprus?

It is mandatory to visit the country within a year after the approval of permanent residence — to submit biometric data and receive a permanent residence card. After that, it is enough to visit the island once every two years, keep investments, and also have an income of €30,000 per person per year.

What taxes do Cypriot permanent residents pay?

A permanent resident without tax residency may not pay tax on global income, including the one from investments: taxes must be paid only on profits earned on the island.

Tax residents must pay income tax on all their income and other taxes. The income tax rate depends on the income amount, e.g. up to €28,000 per year are taxable under 20%, and €60,000 per year — is under 35%.

It is unnecessary to become a tax resident, even if you live in the country for more than 183 days a year.

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.

Zlata Erlach
Caribbean Investment Program Expert
Schedule a meeting
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