Cyprus permanent residency: key requirements
Investment of €300,000 + VAT
Payment transfer from abroad
No employment in Cyprus
Clean criminal record
Provide proof of annual income from outside Cyprus
Alternative investment options also available
Purchase of newly-built residential or commercial properties (one or multiple units) from developers
Applicants must declare that they will not undertake employment in Cyprus. However, serving as an unpaid director of their own Cyprus-registered company is permitted
The funds must be transferred directly from a foreign bank account to the developer’s bank account in Cyprus
Applicants must provide an official certificate confirming they have no criminal convictions
Income proof is only required at the time of application
€50,000 minimum income (main applicant)
Additional €15,000 required for a spouse
Additional €10,000 required per dependent child
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Cyprus
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FAQ
Yes, but not for the main qualifying amount. At least €300,000 + VAT must be transferred from outside Cyprus before the application is submitted. Any amount above this threshold can be financed through developer installments or external loans.
No. Selling your investment property will lead to revocation of your PR status unless you immediately replace it with another property of equal or higher value, meeting all the program requirements.
- This restriction is lifted once Cyprus citizenship is granted.
- Replacing the initial property is typically financially disadvantageous: most PR-approved properties are initially purchased with a reduced 5% VAT rate, available only for the first primary residence. Any replacement property will incur the full VAT rate of 19%, even if intended for personal use.
Once the sales contract is officially registered and the qualifying payment has been transferred, delays in project delivery or a change of developer will not affect the approval or validity of your PR status.
Only foreign-sourced income is accepted for PR applications based on residential real estate investments. The minimum required annual income is:
- €50,000 for the main applicant
- €15,000 for a spouse
- €10,000 for each minor child or financially dependent child up to age 25 (enrolled full-time in higher education)
No. Under current PR program rules, a bank deposit of €30,000 is no longer required. Similarly, opening a bank account in Cyprus is no longer mandatory for obtaining permanent residency.
- VAT:
– 5% VAT applies either to properties with issued permits before the reform or, under new rules, to the first 130 m² of primary residences provided that the property price does not exceed €475,000.
- Stamp Duty: 0.15%–0.20% of the total value indicated in the property purchase agreement.
- Medical insurance
Your child's PR status remains valid even after they reach the age of 25, marry, or complete their education. However, their future spouse or children will not automatically inherit or qualify for PR status.
You must submit a separate dependent application, providing:
- Marriage or birth certificates
- Proof of additional annual income (€15,000 for a spouse, €10,000 per child)
- Applicable government fees
The official processing period declared by the Cyprus Immigration Department is 2 months. However, due to a high volume of applications in 2025, the realistic timeframe from application submission to issuance of PR cards is around 6 months.
You can authorize a representative to submit the application on your behalf. However, the main applicant and all family members included in the application must travel to Cyprus within 12 months of PR approval to provide biometric data and collect their PR cards.
(You may provide biometric data sooner if you are already in Cyprus, but it is not mandatory at the time of initial submission.)
(You may provide biometric data sooner if you are already in Cyprus, but it is not mandatory at the time of initial submission.)
Assisting with Cyprus permanent residency through real estate investment
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Laverychev & Laverychev Consulting Ltd.
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1. General Provisions
1.1. By submitting your data through this website, you consent to this Privacy Policy.
1.2. The website administration ensures the protection of the information received from unauthorized access, distribution, disclosure, or misuse in accordance with applicable data protection laws.
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