Cyprus PRP (Golden Visa) Program
Migration Program Details & Application
Program Overview
Project Description
• Policy Nature: Non-EU citizens can apply for permanent residency through a fast track by making a qualified investment (primarily through property purchase) under section 6(2) of the Foreigners and Immigration Regulations. Upon approval, they will receive permanent residency status, with a residency card valid for 5 years and renewable indefinitely. There is no mandatory residency requirement (only a visit to the EU every two years is required).
• Purchase requirements: Investment of no less than 300,000 euros (excluding VAT) is required to purchase one of the following types of properties: (i) Purchase one or more brand-new residential properties (apartments or villas) from the developer. These properties must be sold for the first time and second-hand properties are not eligible. (ii) Purchase commercial properties (offices, shops, hotels, etc.), whether new or second-hand. (iii) Purchase newly built mixed-use residential and commercial properties with a value of no less than 300,000 euros.
• Payment requirements for property purchase: Payment must be made from an overseas account in your name, and you must provide proof of payment of at least €200,000 to the immigration authorities at the time of application. In addition, you must deposit at least €30,000 in a fixed-term deposit in a Cypriot bank for a period of at least three years.
• Annual income requirement: The main applicant must prove that he or she has a stable and legal overseas income of no less than 50,000 euros per year (which can be composed of salary, pension, rent, dividends, etc.). The spouse applying alone needs to provide an additional 15,000 euros per person, and for each additional minor child, an additional 10,000 euros per person is required.
• Permanent residency benefits: Indefinite residency, free movement within the Schengen Area (Cyprus is moving towards Schengen accession), free public education for children and preferential access to private schools, and eligibility to apply for Cypriot citizenship (passport) after seven years of legal residency. Note: Permanent residency does not allow holders to be employed (receive a salary) locally, but the main applicant can serve as a non-executive director of the invested company or operate a wholly foreign-owned enterprise.
• Target audience: Primarily non-EU investors, retirees, and families wishing to obtain EU permanent residency through stable residence. After holding permanent residency for 7 years, one can apply for a passport and enjoy all the rights of an EU citizen.
Key advantages: Permanent residency obtained in one step, no residency requirement, high-quality education for children, real estate with both investment and self-occupancy value, and zero language and educational requirements.
• Policy Nature: Non-EU citizens can apply for permanent residency through a fast track by making a qualified investment (primarily through property purchase) under section 6(2) of the Foreigners and Immigration Regulations. Upon approval, they will receive permanent residency status, with a residency card valid for 5 years and renewable indefinitely. There is no mandatory residency requirement (only a visit to the EU every two years is required).
• Purchase requirements: Investment of no less than 300,000 euros (excluding VAT) is required to purchase one of the following types of properties: (i) Purchase one or more brand-new residential properties (apartments or villas) from the developer. These properties must be sold for the first time and second-hand properties are not eligible. (ii) Purchase commercial properties (offices, shops, hotels, etc.), whether new or second-hand. (iii) Purchase newly built mixed-use residential and commercial properties with a value of no less than 300,000 euros.
• Payment requirements for property purchase: Payment must be made from an overseas account in your name, and you must provide proof of payment of at least €200,000 to the immigration authorities at the time of application. In addition, you must deposit at least €30,000 in a fixed-term deposit in a Cypriot bank for a period of at least three years.
• Annual income requirement: The main applicant must prove that he or she has a stable and legal overseas income of no less than 50,000 euros per year (which can be composed of salary, pension, rent, dividends, etc.). The spouse applying alone needs to provide an additional 15,000 euros per person, and for each additional minor child, an additional 10,000 euros per person is required.
• Permanent residency benefits: Indefinite residency, free movement within the Schengen Area (Cyprus is moving towards Schengen accession), free public education for children and preferential access to private schools, and eligibility to apply for Cypriot citizenship (passport) after seven years of legal residency. Note: Permanent residency does not allow holders to be employed (receive a salary) locally, but the main applicant can serve as a non-executive director of the invested company or operate a wholly foreign-owned enterprise.
• Target audience: Primarily non-EU investors, retirees, and families wishing to obtain EU permanent residency through stable residence. After holding permanent residency for 7 years, one can apply for a passport and enjoy all the rights of an EU citizen.
Key advantages: Permanent residency obtained in one step, no residency requirement, high-quality education for children, real estate with both investment and self-occupancy value, and zero language and educational requirements.
Eligibility & Requirements
Scoring Instructions
The Cyprus permanent residency program does not have a points-based system. The review process is primarily based on four core criteria: investment threshold, proof of income, no criminal record, and insurance coverage.
Review Dimension Requirements
The investment threshold is a newly built, first-hand property (including VAT) or commercial property valued at no less than €300,000. The property must be located in Cyprus and have a legal title deed. A property valuation report issued by an accredited independent valuation agency is required; any amount exceeding the contract price will not be recognized.
Proof of down payment for the property: Submit proof of payment of at least 200,000 euros to the immigration office (bank transfer records, payment receipts, etc.).
Proof of annual income: The main applicant's annual income must be ≥ €50,000; spouse's income must increase by €15,000 per person; accompanying children's income must increase by €10,000 per person. Funds must originate from outside Cyprus.
Proof of overseas funds: All investment funds must be converted into Euros through a local Cypriot bank account, and documentation of the entire process of foreign exchange purchase and transfer must be retained. If using cryptocurrencies, unlisted stocks, etc., prior consultation with a lawyer is required to confirm compliance.
Provide a certificate of no criminal record from both your country of origin and country of residence.
Purchase approved private health insurance covering Cyprus, with a recommended coverage amount of at least €50,000 per year.
A fixed deposit of at least €30,000 must be made in a Cypriot bank and locked for at least 3 years.
The conditions marked in red in the table represent the latest policy adjustments. If children are studying or spouses are employed after 2026, separate permits may be required.
The Cyprus permanent residency program does not have a points-based system. The review process is primarily based on four core criteria: investment threshold, proof of income, no criminal record, and insurance coverage.
Review Dimension Requirements
The investment threshold is a newly built, first-hand property (including VAT) or commercial property valued at no less than €300,000. The property must be located in Cyprus and have a legal title deed. A property valuation report issued by an accredited independent valuation agency is required; any amount exceeding the contract price will not be recognized.
Proof of down payment for the property: Submit proof of payment of at least 200,000 euros to the immigration office (bank transfer records, payment receipts, etc.).
Proof of annual income: The main applicant's annual income must be ≥ €50,000; spouse's income must increase by €15,000 per person; accompanying children's income must increase by €10,000 per person. Funds must originate from outside Cyprus.
Proof of overseas funds: All investment funds must be converted into Euros through a local Cypriot bank account, and documentation of the entire process of foreign exchange purchase and transfer must be retained. If using cryptocurrencies, unlisted stocks, etc., prior consultation with a lawyer is required to confirm compliance.
Provide a certificate of no criminal record from both your country of origin and country of residence.
Purchase approved private health insurance covering Cyprus, with a recommended coverage amount of at least €50,000 per year.
A fixed deposit of at least €30,000 must be made in a Cypriot bank and locked for at least 3 years.
The conditions marked in red in the table represent the latest policy adjustments. If children are studying or spouses are employed after 2026, separate permits may be required.
Application Process & Advice
suggestion
1. Select property type:
• Newly built residential properties are the most recommended main path under the policy, with a minimum investment of 300,000 euros. They can be rented out during the holding period, but the sales price includes 19% VAT (if the purchase is a self-occupied residential property with an area of ≤200 square meters, the VAT rate can be reduced to 5%). Moreover, even if the price of a second-hand property exceeds 300,000 euros, it does not qualify for the residential application. The rental income of commercial properties that have already been rented belongs to the seller, and the high management fees collected after the purchase may also affect future rental costs.
Commercial properties (offices, shops, hotels, etc.) can also be sold as second-hand properties. They are more flexible and have different VAT treatment methods, but they are less for owner-occupancy and are more suitable for pure investment purposes.
2. Estimated Additional Costs: In addition to the purchase price, you need to prepare approximately 8%~12% in additional expenses, including:
Value Added Tax (VAT): 19% for new residential properties (reduced to 5% for first-time owner-occupied properties ≤200 square meters).
• Stamp duty: 0.151 TP3T for the first 170,000 euros of the transaction value, and 0.21 TP3T for the excess.
• Land registration fee/transfer fee: Tiered reduction for first-time homebuyers (approximately 1-21 TP3T for properties under 170,000), and a uniform 31 TP3T for non-first-time homebuyers;
• Legal fees: Mandatory representation by a licensed lawyer, total cost approximately €15,000-€25,000, including due diligence, visa application representation, etc.
• Miscellaneous items such as property management fees, insurance premiums, notary and translation fees;
Furthermore, permanent residents cannot be employed and receive wages. If you intend to work in Cyprus, you need to plan ahead for a work visa or start a business.
3. Region selection strategy:
• Limassol: Average property prices are relatively high (approximately 2,500-4,500 euros/㎡), offering both high-quality living amenities and high-end rental demand. It is suitable for those with sufficient budgets who value quality of life and their children's education (there are several British-style international schools).
Paphos: Average price is slightly lower (1800-3000 euros/㎡), with abundant international school resources, suitable for families with school-age children and those seeking a retirement environment;
Nicosia (capital): Average price is about 1200-2000 euros/㎡. Education and government resources are concentrated, but there is no coastline yet. You need to balance work or study needs when choosing a location.
Larnaca and Famagusta: Average price around €1,300-2,500/m², with an international airport and emerging potential, suitable for buyers who want to combine investment and vacation.
4. Advantages of Accompanying Children and Spouses: The fast track (regulatory clause 6.2) allows immediate family members to accompany the child, including spouse, minor children, and unmarried, full-time enrolled adult children aged 18-25 who are financially dependent. Parents and parents-in-law cannot be accompanying family members (some earlier policies allowed this, but restrictions have been tightened since 2023; if parents are the primary applicant and hold assets on behalf of the child, it will affect the child's future status inheritance). It is recommended to apply for family reunification for the newborn child promptly after approval and plan for the continuation of their status around the age of 25.
5. Key Points for Maintaining Children's Status: If accompanying children marry or reach the age of 25 during their stay and do not meet the requirements of full-time enrollment or financial dependence, they will automatically lose their permanent residency status. It is recommended to develop a strategy for children's status in advance, such as arranging for them to graduate as soon as possible or applying for citizenship early.
6. Compliance Requirements: All funds for purchasing property must be transferred from an individual's overseas account under the same name to Cyprus and paid in Euros. Bank transfer records must be retained for verification purposes. Loan funds cannot be used to meet the €300,000 investment threshold. An annual compliance declaration (including investment maintenance, source of income, and insurance status) must be submitted to the Immigration Department annually, and all adult applicants must update their criminal record checks every three years.
7. Schengen Area Issues: Cyprus has not yet formally joined the Schengen Area (but is actively working towards this goal). Holding a permanent residency card does not grant free access to other Schengen countries; separate visas are still required for travel to other Schengen countries. However, Cypriot permanent residency simplifies the visa process and increases the chances of approval. For those requiring full Schengen visa-free access, combining it with permanent residency or citizenship in other Schengen countries may be considered.
Cyprus permanent residency application process through property purchase
1. Preliminary preparations:
• Determine the list of the main applicant and accompanying family members (spouse + unmarried children under 24 years old who are currently enrolled in school);
• Prepare proof of income (pay slips, bank statements, tax records, etc., must be from overseas sources);
• Prepare a certificate of no criminal record and obtain notarization and authentication;
• Purchase private health insurance that covers Cyprus (it is best to confirm the list of insurance providers in advance, as some clinics or hospitals do not accept certain non-EU insurance policies).
2. Site Visit and Property Selection:
• Engage a local licensed lawyer to conduct due diligence on the shortlisted properties (verify that the title is free of defects, mortgages, and meets the conditions for first sale, etc.);
• Sign the purchase contract and register it with the Land Survey Bureau;
• Pay at least €200,000 for the property (keep bank transfer receipts and payment records), and prepare to pay the remaining balance before submitting the application;
Simultaneously deposit €30,000 into a local Cypriot bank as a time deposit, locking it in for at least 3 years.
3. Application Submission Stage:
• Prepare all required documents (Form M.67 application form, passport copy, proof of income, notarized certificate of no criminal record, medical insurance certificate, purchase contract and proof of payment of more than 200,000 euros, and proof of 30,000 euros in savings), which will be compiled and submitted by the lawyer to the Immigration Department of the Ministry of the Interior.
• The government application fee must be paid together with the application: €500 per person for the main applicant, €250 per person for the spouse and children; if the total number of family members exceeds 4, the fee is reduced to €150 per person for the 5th and subsequent family members.
• Note that all materials requiring translation must be translated by a professional agency and stamped with a translation seal, and authenticated by a notary public recognized by the local Cypriot Ministry of Justice; otherwise, the immigration authorities have the right to consider them "unusable evidence" and refuse to accept them.
4. Approval Stage:
The immigration department typically completes its review within 2-6 months (the fast track process takes as little as 2-4 months, with the full process taking approximately 6-12 months, depending on the number of applicants and the completeness of the documents). Missing documents or the need for supplementary materials can cause delays and may affect the main applicant's property lock-in status; therefore, it is advisable to allow sufficient time and budget.
5. Approval and receipt of permanent residency card:
• Upon receiving the letter of approval in principle, prepare for the entry of family members as required;
• The main applicant and accompanying family members arrive in Cyprus and have their biometric information (fingerprints, photos) entered.
• Receive a physical permanent residency card valid for 5 years;
• You can then enter Cyprus at any time to live, but you need to enter the country once every two years (when renewing your visa, you need to provide your passport entry and exit records and supplementary "traces of life" such as bank, electricity and water bills).
6. Renewal and Compliance Maintenance:
• Permanent residency status has no time limit, but the permanent residency card must be renewed every 5 years. When renewing the card, it is not necessary to re-examine all qualifications; only proof of continued residence or ongoing business activities in Cyprus is required (such as utility bills, children's school enrollment certificates, bank account statements, etc.).
• All adult applicants must have their criminal record checks renewed every 3 years;
• Provide an annual compliance statement (maintaining investments, proof of income, and insurance);
• The key requirement is that you must enter Cyprus at least once every two years (the entry cycle is calculated from the time your fingerprints are taken; if you do not visit for an extended period, your residence permit may be revoked).
7. Path to citizenship (passport):
• Have legally resided in Cyprus for 7 years (the period of holding a permanent residency card is counted as residency time), and have no criminal record during this period;
• Must take a Greek language and Cypriot history and culture basics exam (specific level may be adjusted).
• If the main applicant and their spouse apply for citizenship, they must be willing to renounce their original citizenship (Cyprus does not recognize dual citizenship, but policies vary from country to country, so it is recommended to learn about the laws of the country of origin in advance).
• After successful citizenship, you can travel freely to 130+ countries and the Schengen Area without a visa.
Total processing time: Approximately 2-6 months for approval, with all family members receiving approval simultaneously. The entire process from purchasing a property to obtaining permanent residency can be completed within 6-8 months. After 7 years of residency planning, one can apply for a passport and become an EU citizen.
1. Select property type:
• Newly built residential properties are the most recommended main path under the policy, with a minimum investment of 300,000 euros. They can be rented out during the holding period, but the sales price includes 19% VAT (if the purchase is a self-occupied residential property with an area of ≤200 square meters, the VAT rate can be reduced to 5%). Moreover, even if the price of a second-hand property exceeds 300,000 euros, it does not qualify for the residential application. The rental income of commercial properties that have already been rented belongs to the seller, and the high management fees collected after the purchase may also affect future rental costs.
Commercial properties (offices, shops, hotels, etc.) can also be sold as second-hand properties. They are more flexible and have different VAT treatment methods, but they are less for owner-occupancy and are more suitable for pure investment purposes.
2. Estimated Additional Costs: In addition to the purchase price, you need to prepare approximately 8%~12% in additional expenses, including:
Value Added Tax (VAT): 19% for new residential properties (reduced to 5% for first-time owner-occupied properties ≤200 square meters).
• Stamp duty: 0.151 TP3T for the first 170,000 euros of the transaction value, and 0.21 TP3T for the excess.
• Land registration fee/transfer fee: Tiered reduction for first-time homebuyers (approximately 1-21 TP3T for properties under 170,000), and a uniform 31 TP3T for non-first-time homebuyers;
• Legal fees: Mandatory representation by a licensed lawyer, total cost approximately €15,000-€25,000, including due diligence, visa application representation, etc.
• Miscellaneous items such as property management fees, insurance premiums, notary and translation fees;
Furthermore, permanent residents cannot be employed and receive wages. If you intend to work in Cyprus, you need to plan ahead for a work visa or start a business.
3. Region selection strategy:
• Limassol: Average property prices are relatively high (approximately 2,500-4,500 euros/㎡), offering both high-quality living amenities and high-end rental demand. It is suitable for those with sufficient budgets who value quality of life and their children's education (there are several British-style international schools).
Paphos: Average price is slightly lower (1800-3000 euros/㎡), with abundant international school resources, suitable for families with school-age children and those seeking a retirement environment;
Nicosia (capital): Average price is about 1200-2000 euros/㎡. Education and government resources are concentrated, but there is no coastline yet. You need to balance work or study needs when choosing a location.
Larnaca and Famagusta: Average price around €1,300-2,500/m², with an international airport and emerging potential, suitable for buyers who want to combine investment and vacation.
4. Advantages of Accompanying Children and Spouses: The fast track (regulatory clause 6.2) allows immediate family members to accompany the child, including spouse, minor children, and unmarried, full-time enrolled adult children aged 18-25 who are financially dependent. Parents and parents-in-law cannot be accompanying family members (some earlier policies allowed this, but restrictions have been tightened since 2023; if parents are the primary applicant and hold assets on behalf of the child, it will affect the child's future status inheritance). It is recommended to apply for family reunification for the newborn child promptly after approval and plan for the continuation of their status around the age of 25.
5. Key Points for Maintaining Children's Status: If accompanying children marry or reach the age of 25 during their stay and do not meet the requirements of full-time enrollment or financial dependence, they will automatically lose their permanent residency status. It is recommended to develop a strategy for children's status in advance, such as arranging for them to graduate as soon as possible or applying for citizenship early.
6. Compliance Requirements: All funds for purchasing property must be transferred from an individual's overseas account under the same name to Cyprus and paid in Euros. Bank transfer records must be retained for verification purposes. Loan funds cannot be used to meet the €300,000 investment threshold. An annual compliance declaration (including investment maintenance, source of income, and insurance status) must be submitted to the Immigration Department annually, and all adult applicants must update their criminal record checks every three years.
7. Schengen Area Issues: Cyprus has not yet formally joined the Schengen Area (but is actively working towards this goal). Holding a permanent residency card does not grant free access to other Schengen countries; separate visas are still required for travel to other Schengen countries. However, Cypriot permanent residency simplifies the visa process and increases the chances of approval. For those requiring full Schengen visa-free access, combining it with permanent residency or citizenship in other Schengen countries may be considered.
Cyprus permanent residency application process through property purchase
1. Preliminary preparations:
• Determine the list of the main applicant and accompanying family members (spouse + unmarried children under 24 years old who are currently enrolled in school);
• Prepare proof of income (pay slips, bank statements, tax records, etc., must be from overseas sources);
• Prepare a certificate of no criminal record and obtain notarization and authentication;
• Purchase private health insurance that covers Cyprus (it is best to confirm the list of insurance providers in advance, as some clinics or hospitals do not accept certain non-EU insurance policies).
2. Site Visit and Property Selection:
• Engage a local licensed lawyer to conduct due diligence on the shortlisted properties (verify that the title is free of defects, mortgages, and meets the conditions for first sale, etc.);
• Sign the purchase contract and register it with the Land Survey Bureau;
• Pay at least €200,000 for the property (keep bank transfer receipts and payment records), and prepare to pay the remaining balance before submitting the application;
Simultaneously deposit €30,000 into a local Cypriot bank as a time deposit, locking it in for at least 3 years.
3. Application Submission Stage:
• Prepare all required documents (Form M.67 application form, passport copy, proof of income, notarized certificate of no criminal record, medical insurance certificate, purchase contract and proof of payment of more than 200,000 euros, and proof of 30,000 euros in savings), which will be compiled and submitted by the lawyer to the Immigration Department of the Ministry of the Interior.
• The government application fee must be paid together with the application: €500 per person for the main applicant, €250 per person for the spouse and children; if the total number of family members exceeds 4, the fee is reduced to €150 per person for the 5th and subsequent family members.
• Note that all materials requiring translation must be translated by a professional agency and stamped with a translation seal, and authenticated by a notary public recognized by the local Cypriot Ministry of Justice; otherwise, the immigration authorities have the right to consider them "unusable evidence" and refuse to accept them.
4. Approval Stage:
The immigration department typically completes its review within 2-6 months (the fast track process takes as little as 2-4 months, with the full process taking approximately 6-12 months, depending on the number of applicants and the completeness of the documents). Missing documents or the need for supplementary materials can cause delays and may affect the main applicant's property lock-in status; therefore, it is advisable to allow sufficient time and budget.
5. Approval and receipt of permanent residency card:
• Upon receiving the letter of approval in principle, prepare for the entry of family members as required;
• The main applicant and accompanying family members arrive in Cyprus and have their biometric information (fingerprints, photos) entered.
• Receive a physical permanent residency card valid for 5 years;
• You can then enter Cyprus at any time to live, but you need to enter the country once every two years (when renewing your visa, you need to provide your passport entry and exit records and supplementary "traces of life" such as bank, electricity and water bills).
6. Renewal and Compliance Maintenance:
• Permanent residency status has no time limit, but the permanent residency card must be renewed every 5 years. When renewing the card, it is not necessary to re-examine all qualifications; only proof of continued residence or ongoing business activities in Cyprus is required (such as utility bills, children's school enrollment certificates, bank account statements, etc.).
• All adult applicants must have their criminal record checks renewed every 3 years;
• Provide an annual compliance statement (maintaining investments, proof of income, and insurance);
• The key requirement is that you must enter Cyprus at least once every two years (the entry cycle is calculated from the time your fingerprints are taken; if you do not visit for an extended period, your residence permit may be revoked).
7. Path to citizenship (passport):
• Have legally resided in Cyprus for 7 years (the period of holding a permanent residency card is counted as residency time), and have no criminal record during this period;
• Must take a Greek language and Cypriot history and culture basics exam (specific level may be adjusted).
• If the main applicant and their spouse apply for citizenship, they must be willing to renounce their original citizenship (Cyprus does not recognize dual citizenship, but policies vary from country to country, so it is recommended to learn about the laws of the country of origin in advance).
• After successful citizenship, you can travel freely to 130+ countries and the Schengen Area without a visa.
Total processing time: Approximately 2-6 months for approval, with all family members receiving approval simultaneously. The entire process from purchasing a property to obtaining permanent residency can be completed within 6-8 months. After 7 years of residency planning, one can apply for a passport and become an EU citizen.