Cyprus Permanent Residence

Frequently asked questions

• What are the benefits of the Cyprus Golden Visa?

  Cyprus permanent residence holders may live in the country or visit it anytime, optimise taxes, register a company, and get access to Cypriot education and healthcare. Also, investors may apply for citizenship after 8 years of living in the country and get even more benefits.

  Spouses and children of investors may also participate in the program.

• Can my family members be included in the application and get Cyprus permanent residence?

  Yes. Investors may include spouses and children in their applications.

  Adult children must be students under 25, unmarried and financially dependent on the investors. Children with disabilities may participate regardless of age.

• What’s the application processing time?

  Application processing for Cyprus permanent residence by investment usually takes 9+ months.

• 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 pay €500+ for the application processing 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 8 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.

  Investors are obliged to prove annually that they have not divested their investment of €300,000 and keep medical insurance for all family members. Every 3 years, all family members over 18 must also submit certificates of no criminal record from the country of citizenship and the country of residence.

• 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.

• Can I include my parents or parents-in-law in the Cyprus permanent residence application?

  No. Parents of the main applicant or of the spouse cannot be added to the application. Only children under 25 and spouses are eligible.

• Does a Cyprus permanent residence permit allow me to work in Cyprus?

  Applicants for permanent residence by investment cannot work in Cyprus. To do so, they must obtain a separate work permit. However, they may serve as unpaid directors or be shareholders of a company they invest in.

• Will my Cyprus permanent residence give me visa‑free access to the Schengen Area once Cyprus joins Schengen?

  Currently, Cyprus is not in the Schengen Area, so permit holders still need a Schengen visa. The government plans to join in 2026, which may allow visa-free travel for residents.

• Can I rent out the residential property I purchase for permanent residence?

  Yes. You may lease the property, but in that case the standard VAT rate of 19% applies for the purchase. The reduced 5% VAT is available only if the home is your sole residence and is not rented out.

  You can expect a rental yield of up to 7%.

• May I use a mortgage to fund the required €300,000 investment?

  No. The purchase must be financed with unencumbered personal capital transferred into Cyprus.

• Can I apply for Cyprus citizenship after obtaining permanent residence?

  Yes, permanent residents can apply for Cypriot citizenship after 8 years of legal residence in Cyprus, including at least 5 years as a permanent resident. During the last year before the application, the applicant must have resided in Cyprus continuously. Applicants must also demonstrate basic knowledge of the Greek language.