Cyprus PRP Golden Visa
Migration Program Details & Application
Program Overview
Project Description
• Policy Nature: Under Regulation 6(2) of the Cyprus Civil Registration and Migration Authority, permanent residency through investment is Cyprus's fast-track program, implemented since 2012, and is one of the most mature investment residency programs in the EU. The program only requires a certain amount of investment, with virtually no restrictions on the applicant's education, occupation, or language proficiency.
• Relationship between home purchase and residency: Home purchase is a core qualification for obtaining permanent residency. Applicants can obtain permanent residency in one step by purchasing compliant property from a developer, without going through a temporary residency stage. This residency permit is valid indefinitely (with no expiration date), but the issued residency card must be renewed every 10 years.
• Minimum threshold: Purchase a newly built residential property (first sale) with a value of 300,000 euros or more (excluding VAT). You can directly purchase one or two properties from the developer (both properties must be from the same developer and the total amount must meet the threshold).
• Restrictions on secondhand homes: Policies have been tightened multiple times since 2025. Currently, new residential properties are the mainstream compliant route, and secondhand homes are generally not applicable. If choosing commercial real estate (offices, shops, hotels, etc.), one can directly purchase a secondhand home with a total price of no less than €300,000 (no need to be the first sale), but the applicant must simultaneously own or lease a residential property in Cyprus.
• Fast approval: After submitting a complete application, the official processing time is expected to be about 2 months.
• Citizenship Pathway: After legally residing in Cyprus for 7 years (the period of holding a permanent residency card counts towards the residency time), and meeting the corresponding requirements, one can apply for Cypriot citizenship (EU passport). It is important to note that Cyprus's original direct citizenship by investment program ("Golden Passport") was closed in November 2020. Currently, citizenship can only be obtained through naturalization; it is no longer possible to obtain a passport directly through investment.
• Schengen Progress: Cyprus is expected to officially join the Schengen Area in 2026, and the countdown has begun. It has completed full technical integration with the Schengen Information System (SIS II) and will commence routine joint maritime patrols with Greece and Italy starting in October 2025, in a transitional phase. This means that holders of Cypriot permanent residency will be able to travel visa-free through the 29 Schengen countries in the future.
• Major tax benefits in 2026: From January 1, 2026, all stamp duties in Cyprus have been abolished, reducing costs for individuals and investors when signing property purchase contracts, lease agreements, and other legal documents. Furthermore, according to EU internal progress documents, from June 2026, the immigration authorities of Germany, the Netherlands, and Portugal have begun accepting Cypriot permanent residency cards as supporting documentation for visa applications, potentially shortening Schengen visa processing times to within 5 working days.
• Three investment paths (choose one): A. Purchase a brand new residential property from a licensed developer (most common); B. Purchase commercial real estate (office buildings, shops, hotels, etc.), no new property required; C. Inject/increase capital by €300,000 into a company registered in Cyprus that employs at least 5 people; D. Invest €300,000 in shares of the Cyprus Collective Investment Organization (AIF/AIFLNP/RAIF) fund. A is the preferred choice for family owner-occupied housing; B, C, and D all require the purchase/lease of additional residential real estate.
• Policy Nature: Under Regulation 6(2) of the Cyprus Civil Registration and Migration Authority, permanent residency through investment is Cyprus's fast-track program, implemented since 2012, and is one of the most mature investment residency programs in the EU. The program only requires a certain amount of investment, with virtually no restrictions on the applicant's education, occupation, or language proficiency.
• Relationship between home purchase and residency: Home purchase is a core qualification for obtaining permanent residency. Applicants can obtain permanent residency in one step by purchasing compliant property from a developer, without going through a temporary residency stage. This residency permit is valid indefinitely (with no expiration date), but the issued residency card must be renewed every 10 years.
• Minimum threshold: Purchase a newly built residential property (first sale) with a value of 300,000 euros or more (excluding VAT). You can directly purchase one or two properties from the developer (both properties must be from the same developer and the total amount must meet the threshold).
• Restrictions on secondhand homes: Policies have been tightened multiple times since 2025. Currently, new residential properties are the mainstream compliant route, and secondhand homes are generally not applicable. If choosing commercial real estate (offices, shops, hotels, etc.), one can directly purchase a secondhand home with a total price of no less than €300,000 (no need to be the first sale), but the applicant must simultaneously own or lease a residential property in Cyprus.
• Fast approval: After submitting a complete application, the official processing time is expected to be about 2 months.
• Citizenship Pathway: After legally residing in Cyprus for 7 years (the period of holding a permanent residency card counts towards the residency time), and meeting the corresponding requirements, one can apply for Cypriot citizenship (EU passport). It is important to note that Cyprus's original direct citizenship by investment program ("Golden Passport") was closed in November 2020. Currently, citizenship can only be obtained through naturalization; it is no longer possible to obtain a passport directly through investment.
• Schengen Progress: Cyprus is expected to officially join the Schengen Area in 2026, and the countdown has begun. It has completed full technical integration with the Schengen Information System (SIS II) and will commence routine joint maritime patrols with Greece and Italy starting in October 2025, in a transitional phase. This means that holders of Cypriot permanent residency will be able to travel visa-free through the 29 Schengen countries in the future.
• Major tax benefits in 2026: From January 1, 2026, all stamp duties in Cyprus have been abolished, reducing costs for individuals and investors when signing property purchase contracts, lease agreements, and other legal documents. Furthermore, according to EU internal progress documents, from June 2026, the immigration authorities of Germany, the Netherlands, and Portugal have begun accepting Cypriot permanent residency cards as supporting documentation for visa applications, potentially shortening Schengen visa processing times to within 5 working days.
• Three investment paths (choose one): A. Purchase a brand new residential property from a licensed developer (most common); B. Purchase commercial real estate (office buildings, shops, hotels, etc.), no new property required; C. Inject/increase capital by €300,000 into a company registered in Cyprus that employs at least 5 people; D. Invest €300,000 in shares of the Cyprus Collective Investment Organization (AIF/AIFLNP/RAIF) fund. A is the preferred choice for family owner-occupied housing; B, C, and D all require the purchase/lease of additional residential real estate.
Eligibility & Requirements
Applicant requirements
Cyprus does not use a points-based system. The application process is based on several hard requirements, and you can apply if you meet all of them.
• Non-EU citizens: The main applicant must be a citizen of a non-EU member state, a non-European Economic Area, or a non-Swiss citizen.
• Age and character: The main applicant must be at least 18 years old and provide a certificate of no criminal record from both their country of origin and country of residence; they must also be in good health and pass a medical examination conducted by a designated medical institution.
• Investment Qualification and Payment Completion: A minimum compliant investment of €300,000 (such as real estate or commercial property) must be completed, and the funds must be transferred in full from an overseas personal account under the same name to Cyprus. The formal application must clearly state that the entire purchase and full payment of the qualified investment have been completed. Funds from domestic sources or borrowed funds from within Cyprus are not accepted.
• Annual income threshold: The main applicant must prove a "secure annual income" of at least €50,000 (after tax) from a compliant overseas source. If accompanied by a spouse, the annual income requirement increases by €15,000; for each child, the requirement increases by €10,000. The spouse's overseas income can be included in the calculation.
For a family of three (husband and wife + 1 child), the required annual income is approximately: 50,000 + 15,000 + 10,000 = 75,000 euros per year.
• Medical Insurance: Applicants and dependent family members must hold medical insurance covering both inpatient and outpatient care. Standard travel insurance can be used for the initial application. After approval, local medical insurance must be arranged based on the actual length of stay (the GESY universal health insurance system can be joined, with priority given to accompanying children under 25 years of age). Specific insurance requirements and annual reviews will be determined by the applicant's clinic or the GESY system.
• Not engaged in employment: The main applicant and his/her spouse cannot be employed as employees in Cyprus, but can serve as directors of the invested company or establish a foreign-controlled enterprise.
• Conditions for renewal: The permanent residency permit itself is indefinite, but the applicant must enter Cyprus at least once every two years to maintain the validity of their status; they must continue to hold a qualified investment and may not sell or transfer it without an equivalent compliant investment as a substitute; and they must renew their criminal record certificate every three years.
Cyprus does not use a points-based system. The application process is based on several hard requirements, and you can apply if you meet all of them.
• Non-EU citizens: The main applicant must be a citizen of a non-EU member state, a non-European Economic Area, or a non-Swiss citizen.
• Age and character: The main applicant must be at least 18 years old and provide a certificate of no criminal record from both their country of origin and country of residence; they must also be in good health and pass a medical examination conducted by a designated medical institution.
• Investment Qualification and Payment Completion: A minimum compliant investment of €300,000 (such as real estate or commercial property) must be completed, and the funds must be transferred in full from an overseas personal account under the same name to Cyprus. The formal application must clearly state that the entire purchase and full payment of the qualified investment have been completed. Funds from domestic sources or borrowed funds from within Cyprus are not accepted.
• Annual income threshold: The main applicant must prove a "secure annual income" of at least €50,000 (after tax) from a compliant overseas source. If accompanied by a spouse, the annual income requirement increases by €15,000; for each child, the requirement increases by €10,000. The spouse's overseas income can be included in the calculation.
For a family of three (husband and wife + 1 child), the required annual income is approximately: 50,000 + 15,000 + 10,000 = 75,000 euros per year.
• Medical Insurance: Applicants and dependent family members must hold medical insurance covering both inpatient and outpatient care. Standard travel insurance can be used for the initial application. After approval, local medical insurance must be arranged based on the actual length of stay (the GESY universal health insurance system can be joined, with priority given to accompanying children under 25 years of age). Specific insurance requirements and annual reviews will be determined by the applicant's clinic or the GESY system.
• Not engaged in employment: The main applicant and his/her spouse cannot be employed as employees in Cyprus, but can serve as directors of the invested company or establish a foreign-controlled enterprise.
• Conditions for renewal: The permanent residency permit itself is indefinite, but the applicant must enter Cyprus at least once every two years to maintain the validity of their status; they must continue to hold a qualified investment and may not sell or transfer it without an equivalent compliant investment as a substitute; and they must renew their criminal record certificate every three years.
Application Process & Advice
suggestion
Seize the Schengen Accession Window: Cyprus's accession to the Schengen Area in 2026 is imminent, at which time the value of its citizenship will significantly increase, and the policy window may be narrowing. Simultaneously, Cyprus will become the second country globally, after Malta, to integrate the EU, Eurozone, Schengen Area, and Commonwealth, resulting in a comprehensive upgrade of its citizenship.
• A clear budget must be calculated (conservative approach):
• Basic investment amount for real estate: ≥ €300,000. Excluding VAT. VAT for newly built residential properties is 5% (first-time owner-occupied property ≤ 200㎡) to 19% (standard tax rate). A summary of all transaction costs will be provided within 15 minutes. It is recommended to add 8%-13% to the total investment amount to reserve for taxes and brokerage fees.
• Transaction taxes and fees: stamp duty (simplified in recent years, see the new regulations in 2026, now abolished), real estate registration fee approximately 1,000-3,000 euros.
• Legal fees: Typically a fixed fee of 1% or €3,000-8,000 per month of the property contract amount (including due diligence, contract review, and assistance with permanent residency applications). It is essential to retain a local law firm registered with the Cyprus Bar Association to avoid document delays due to insufficient authority.
• Official application fee: approximately €500 for the main applicant, approximately €250 per spouse and child under 18 years of age, and approximately €500 per dependent applicant over 18 years of age.
• Medical insurance: annual fee is approximately 100-300 euros per person.
• When aiming for a property valued at €300,000+, it is recommended to prepare an additional €13,000 to €16,000 for other miscellaneous expenses (notarization, medical examination, etc.), and to discuss these on a case-by-case basis based on reasonable annual expenses for maintaining the property.
• Select regions and focus on their potential for growth:
• Limassol: Economic and business center, average price €3,500-€6,500/㎡, rental yield approximately 5-7%. The real estate market has seen steady growth since 2026, with stable rental demand for serviced apartments and luxury villas. Suitable for high-budget business and family investors.
Paphos: Popular with UK buyers and retirees, with average prices of €2,000-€3,500/m² and rental yields of approximately 4.5-6.51 TP3T. Property transactions in the first half of 2026 have already generated a transfer value of approximately €485 million, a significant increase compared to 201 TP3T. The outlook for high-end holiday real estate is promising.
Larnaca: A rising star benefiting from port redevelopment and urban upgrading, with prices ranging from €1,800 to €2,800 per square meter and rental yields of approximately 5-61 TP3T. The waterfront apartment market saw active trading in the third quarter of 2025, with prices gradually increasing significantly, making it a good balance between low entry barriers and high investment potential.
Nicosia: Administrative and financial center, prices range from €2,000 to €3,200/㎡, with a stable long-term rental market. The addition of an international financial office building in early 2026 will boost surrounding housing demand, suitable for rental or owner-occupied families.
• Housing Price Dynamics: As of the end of 2025, Cyprus's real estate transaction volume increased by approximately 91 TP3T compared to the same period last year, with apartments increasing by 4.51 TP3T and villas by 4.111 TP3T, indicating that it is currently in its strongest upward trend in nearly a decade.
• Take advantage of tax breaks and incentives: Stamp duty will be abolished from 2026, significantly reducing structural costs throughout the year. When purchasing residential properties, if you are eligible for the 5% VAT rate (for first-time homebuyers with an area ≤200 square meters and a total price ≤350,000 euros), ensure you fully utilize the first-tier quota to reduce the total investment percentage. Corporate income tax is only 12.5%, with no inheritance tax, capital gains tax, or global taxation.
• Planning ahead for children over the age limit: The age limit for accompanying children is up to 25 years old (currently enrolled in school and financially dependent). Therefore, if your child will soon turn 25 but has not yet graduated and relies on the main applicant to maintain their study and living costs, you can prepare the relevant school and financial documents in advance to ensure a smooth approval process.
• Parental Sponsorship Requirements (Tightening Trend): Due to the latest revisions in 2023, the principal applicant's parents and parents-in-law are no longer approved as regular accompanying family members unless proof is provided that both are fully financially dependent on the principal applicant and have no other stable adult family members residing in their country of residence. It is recommended to check the latest parental sponsorship requirements with a professional immigration lawyer before applying.
• Thorough due diligence to avoid title irregularities: A lawyer must conduct a title search at the land registry (checking for valid and clear title deeds and building permits) to prevent additional mortgages by the developer from affecting future transfers. Avoiding properties with title defects is a key focus; in the second half of 2025, some newly built land parcels had their applications rejected by the immigration authorities due to the lack of a title deed.
Cyprus permanent residency application process through property purchase
1. Eligibility Assessment and Solution Determination: Eligibility assessment of the main applicant and family members (18 years or older, non-EU citizen, no criminal record, and meeting annual income requirements). Determine the property purchase path (new residential property or commercial real estate + residential rental), and sign an engagement agreement with a qualified Cypriot immigration lawyer.
2. Property Inspection and Selection: Engage a lawyer to conduct due diligence on shortlisted properties (search land registration records, verify that the developer holds a clean title deed and building permit, and ensure there are no mortgages or seizures on the title). Select a property and sign a purchase contract. If selecting a new property, the contract must be a first-hand agreement to purchase from a licensed developer.
3. Funds Transfer and Payment: Open a local bank account in Cyprus and transfer the property payment and taxes from an overseas personal account under the same name. Retain all wire transfer receipts and bank transfer records for verification of the source of funds. Typically, at least €200,000 (depending on the specific contract) must have been paid to the developer or seller before submitting the permanent residency application. Recently, full payment is preferred for compliant structures.
4. Contract Registration: The purchase contract is registered with the Cyprus Land Registry, which protects the buyer's priority rights.
5. Prepare a complete set of permanent residency application documents: Prepare a complete set of documents including a copy of your passport, a notarized copy of your criminal record check (notarized and apostille/consular authentication and official translation), a signed statement of non-acceptance of employment, proof of income for the previous year, overseas bank statements, medical insurance policy, etc. The lawyer will check and organize these documents and prepare an application package.
6. Submit the application to the Immigration Department: The lawyer submits the permanent residency application and all supporting documents to the Cyprus Immigration Department and pays the corresponding government application fee.
7. Review Stage: The immigration department reviews the materials (the official processing time is approximately 2 months, and the complete process from submission to approval takes approximately 3-6 months). If supplementary documents are required, they should be updated promptly as requested. Starting in 2026, new applicants will be subject to tax residency review and will be additionally required to submit annual updates on investment compliance and criminal record checks.
8. Approval and Activation of Fingerprint Registration: After receiving the letter of approval in principle, you must travel to Cyprus in person within one year of approval to establish your residency status, register your fingerprints and biometric information, and obtain your permanent residency card (the card is valid for 10 years).
9. Obtain a permanent residency card and activate your residency rights: Upon approval, you will officially obtain permanent residency rights. You must then return to Cyprus at least once every two years, ensure that you continue to hold compliant investments (therefore, you cannot sell real estate), and renew your card before its expiration (10 years).
10. Subsequent status maintenance: Submit investment holding and health insurance certificates annually, and update the criminal record certificate every 3 years; if you have moved and intend to eventually apply for citizenship, you need to reside there for 7 years and take a Greek language proficiency test (A2-B1 level) and a integration interview.
Seize the Schengen Accession Window: Cyprus's accession to the Schengen Area in 2026 is imminent, at which time the value of its citizenship will significantly increase, and the policy window may be narrowing. Simultaneously, Cyprus will become the second country globally, after Malta, to integrate the EU, Eurozone, Schengen Area, and Commonwealth, resulting in a comprehensive upgrade of its citizenship.
• A clear budget must be calculated (conservative approach):
• Basic investment amount for real estate: ≥ €300,000. Excluding VAT. VAT for newly built residential properties is 5% (first-time owner-occupied property ≤ 200㎡) to 19% (standard tax rate). A summary of all transaction costs will be provided within 15 minutes. It is recommended to add 8%-13% to the total investment amount to reserve for taxes and brokerage fees.
• Transaction taxes and fees: stamp duty (simplified in recent years, see the new regulations in 2026, now abolished), real estate registration fee approximately 1,000-3,000 euros.
• Legal fees: Typically a fixed fee of 1% or €3,000-8,000 per month of the property contract amount (including due diligence, contract review, and assistance with permanent residency applications). It is essential to retain a local law firm registered with the Cyprus Bar Association to avoid document delays due to insufficient authority.
• Official application fee: approximately €500 for the main applicant, approximately €250 per spouse and child under 18 years of age, and approximately €500 per dependent applicant over 18 years of age.
• Medical insurance: annual fee is approximately 100-300 euros per person.
• When aiming for a property valued at €300,000+, it is recommended to prepare an additional €13,000 to €16,000 for other miscellaneous expenses (notarization, medical examination, etc.), and to discuss these on a case-by-case basis based on reasonable annual expenses for maintaining the property.
• Select regions and focus on their potential for growth:
• Limassol: Economic and business center, average price €3,500-€6,500/㎡, rental yield approximately 5-7%. The real estate market has seen steady growth since 2026, with stable rental demand for serviced apartments and luxury villas. Suitable for high-budget business and family investors.
Paphos: Popular with UK buyers and retirees, with average prices of €2,000-€3,500/m² and rental yields of approximately 4.5-6.51 TP3T. Property transactions in the first half of 2026 have already generated a transfer value of approximately €485 million, a significant increase compared to 201 TP3T. The outlook for high-end holiday real estate is promising.
Larnaca: A rising star benefiting from port redevelopment and urban upgrading, with prices ranging from €1,800 to €2,800 per square meter and rental yields of approximately 5-61 TP3T. The waterfront apartment market saw active trading in the third quarter of 2025, with prices gradually increasing significantly, making it a good balance between low entry barriers and high investment potential.
Nicosia: Administrative and financial center, prices range from €2,000 to €3,200/㎡, with a stable long-term rental market. The addition of an international financial office building in early 2026 will boost surrounding housing demand, suitable for rental or owner-occupied families.
• Housing Price Dynamics: As of the end of 2025, Cyprus's real estate transaction volume increased by approximately 91 TP3T compared to the same period last year, with apartments increasing by 4.51 TP3T and villas by 4.111 TP3T, indicating that it is currently in its strongest upward trend in nearly a decade.
• Take advantage of tax breaks and incentives: Stamp duty will be abolished from 2026, significantly reducing structural costs throughout the year. When purchasing residential properties, if you are eligible for the 5% VAT rate (for first-time homebuyers with an area ≤200 square meters and a total price ≤350,000 euros), ensure you fully utilize the first-tier quota to reduce the total investment percentage. Corporate income tax is only 12.5%, with no inheritance tax, capital gains tax, or global taxation.
• Planning ahead for children over the age limit: The age limit for accompanying children is up to 25 years old (currently enrolled in school and financially dependent). Therefore, if your child will soon turn 25 but has not yet graduated and relies on the main applicant to maintain their study and living costs, you can prepare the relevant school and financial documents in advance to ensure a smooth approval process.
• Parental Sponsorship Requirements (Tightening Trend): Due to the latest revisions in 2023, the principal applicant's parents and parents-in-law are no longer approved as regular accompanying family members unless proof is provided that both are fully financially dependent on the principal applicant and have no other stable adult family members residing in their country of residence. It is recommended to check the latest parental sponsorship requirements with a professional immigration lawyer before applying.
• Thorough due diligence to avoid title irregularities: A lawyer must conduct a title search at the land registry (checking for valid and clear title deeds and building permits) to prevent additional mortgages by the developer from affecting future transfers. Avoiding properties with title defects is a key focus; in the second half of 2025, some newly built land parcels had their applications rejected by the immigration authorities due to the lack of a title deed.
Cyprus permanent residency application process through property purchase
1. Eligibility Assessment and Solution Determination: Eligibility assessment of the main applicant and family members (18 years or older, non-EU citizen, no criminal record, and meeting annual income requirements). Determine the property purchase path (new residential property or commercial real estate + residential rental), and sign an engagement agreement with a qualified Cypriot immigration lawyer.
2. Property Inspection and Selection: Engage a lawyer to conduct due diligence on shortlisted properties (search land registration records, verify that the developer holds a clean title deed and building permit, and ensure there are no mortgages or seizures on the title). Select a property and sign a purchase contract. If selecting a new property, the contract must be a first-hand agreement to purchase from a licensed developer.
3. Funds Transfer and Payment: Open a local bank account in Cyprus and transfer the property payment and taxes from an overseas personal account under the same name. Retain all wire transfer receipts and bank transfer records for verification of the source of funds. Typically, at least €200,000 (depending on the specific contract) must have been paid to the developer or seller before submitting the permanent residency application. Recently, full payment is preferred for compliant structures.
4. Contract Registration: The purchase contract is registered with the Cyprus Land Registry, which protects the buyer's priority rights.
5. Prepare a complete set of permanent residency application documents: Prepare a complete set of documents including a copy of your passport, a notarized copy of your criminal record check (notarized and apostille/consular authentication and official translation), a signed statement of non-acceptance of employment, proof of income for the previous year, overseas bank statements, medical insurance policy, etc. The lawyer will check and organize these documents and prepare an application package.
6. Submit the application to the Immigration Department: The lawyer submits the permanent residency application and all supporting documents to the Cyprus Immigration Department and pays the corresponding government application fee.
7. Review Stage: The immigration department reviews the materials (the official processing time is approximately 2 months, and the complete process from submission to approval takes approximately 3-6 months). If supplementary documents are required, they should be updated promptly as requested. Starting in 2026, new applicants will be subject to tax residency review and will be additionally required to submit annual updates on investment compliance and criminal record checks.
8. Approval and Activation of Fingerprint Registration: After receiving the letter of approval in principle, you must travel to Cyprus in person within one year of approval to establish your residency status, register your fingerprints and biometric information, and obtain your permanent residency card (the card is valid for 10 years).
9. Obtain a permanent residency card and activate your residency rights: Upon approval, you will officially obtain permanent residency rights. You must then return to Cyprus at least once every two years, ensure that you continue to hold compliant investments (therefore, you cannot sell real estate), and renew your card before its expiration (10 years).
10. Subsequent status maintenance: Submit investment holding and health insurance certificates annually, and update the criminal record certificate every 3 years; if you have moved and intend to eventually apply for citizenship, you need to reside there for 7 years and take a Greek language proficiency test (A2-B1 level) and a integration interview.