The Cyprus Permanent Residence by Investment Programme

Non-EU citizens who wish to relocate to Cyprus can choose from different investment options

Cyprus - The New Investment Program caters for different types of investors

The Cyprus Permanent Residence by Investment Programme

The Cyprus Permanent Residence by Investment Programme (also referred to as Golden Visa internationally) offers an appealing variation of eligible investment types, a true Golden Visa for permanent residence.

Holders of Permanent Residence by Investment can combine their status with the Cyprus Non-Dom Tax Status, and they can benefit from a number of other fiscal advantages.

Please note that this page has been updated on the 11th of February 2024.

Similar articles introducing other ways to legally live in Cyprus, with the opportunity to work as well:

Non-EU nationals: legally working and living in Cyprus as majority shareholders of their Cyprus companies;

Non-EU nationals: legally working and living in Cyprus as employees, employed by eligible companies (now including family members).

The information on this page is based on the most recent 4th revision of the relevant legislation, dated May, 2023.

Cyprus, a True Jewel for Relocation

  • Cyprus is one of the 5 safest small countries in the world, as per ValuePenguin research
  • Cyprus is member of the European Union since 2004 and uses the EU’s; common currency, the Euro
  • Approx. 23% of the population are non-Cypriot nationals – providing a colourful mixture of cultures, food, and unique opportunities for friendship and business
  • High standard of living but low cost of living
  • One of the best secondary education infrastructures in the Mediterranean
  • Lovely climate and a healthy environment
  • Good health system
  • At least 320 sunny days per year
  • Almost all beaches of Cyprus are Blue Flag beaches (clean environment and clean waters)
  • Rich culture and history
  • Wonderful authentic villages and mountain range for day tours or relaxed weekends
  • Personal income of up to EUR 19,500 annually is tax exempted;
  • No tax on the disposal of securities in its widest definition, including shares of private companies
  • No tax on income from dividends, if holder of the Cyprus Non-Dom Tax Status;
  • Corporate tax is only 12,5%
  • No withholding tax
  • No inheritance tax
  • And much more…

The Cyprus Permanent Residence by Investment Programme in a Nutshell – a true Golden Visa for Permanent Residence

For more details, please see further below.

  • Required investment at least EUR 300,000
  • Various investment options available (please see below)
  • Evidence of a secured annual income of at least EUR 50,000 sourced from outside Cyprus required (this amount is increased by €15.000 for a spouse and by €10.000 for each dependent child)
  • Spouse and dependent children up to 18  years old (or up to 25 years old  if they study abroad at the time of application) can be covered as well
  • No language requirements
  • No education threshold and no professional skills required
  • Right to live and study in Cyprus
  • Permanent residence ID is issued for 10 years, renewable for 10 years when expired
  • Taking up work is not permitted, however, investors and their dependents may act and work as directors of their own company in Cyprus.

Golden Visa Immigration Permits for Investors – Investment Criteria 

In order to qualify for the fast track Cyprus Permanent Residence by Investment programme, applicants must have completed one of the following investments when applying to the Immigration department:

A.   Investment in one or two residential properties: Purchase of one or two new houses or apartments from a development company, which must be a first sale (new properties) of at least €300,000 (plus VAT).

B.   Investment in real estate (excluding houses/apartments): Purchase of other types of real estate such as offices, shops, hotels or related estate developments or a combination of these with a total value of €300,000 plus VAT. The property to be purchased can be new or resale property.

In the case of this types of investment, the applicant for Cyprus Permanent Residence by Investment must also prove that he or she has a house or flat for own accommodation, either purchased or rented.

C.   Investment in a Cyprus Company’s share capital: Investment of at least €300,000 in the share capital of a company registered in the Republic of Cyprus, based and operating in the Republic of Cyprus, having a proven physical presence in Cyprus and employing at least five (5) people.

In the case of this types of investment, the applicant for Cyprus Permanent Residence by Investment must also prove that he or she has a house or flat for own accommodation, either purchased or rented.

D.   Investment in units of Cyprus funds in the legal form of and an AIF or AIFLNP, or an RAIF): Investment of at least €300,000 in units of Cyprus Investment Organization Collective Investments. The Cyprus fund must invest in Cyprus.

In the case of this types of investment, the applicant for Cyprus Permanent Residence by Investment must also prove that he or she has a house or flat for own accommodation, either purchased or rented.

We serve and accompany you and the entire procedures from the beginning to the day when you hold your 10-years residence permit ID in your hands.

Our services include but are not limited to:

  • Guidance and assistance in finding “your” real estate property (if required);
  • Assisting with due diligence of your real estate to be purchased (if required);
  • Legal overview of your property purchase contract and related documents (if required);
  • Setting up a company in Cyprus, either if you prefer to hold your real estate property in the name of a separate legal entity, or if you wish to incorporate a company for your business activities;
  • Consulting you broadly on all requirements to obtain your Cyprus permanent residency smoothly and fast;
  • Preparing the application file, including the preparation of requested documents, forms and undertakings, and submitting it to the relevant authorities, accompanying you (and your spouse and children, if applicable) to the Immigration Department (Civil Registry and Migration Department);
  • Advising you in all questions regarding your tax residency in Cyprus, and registering you for tax (if required);
  • Consulting you regarding the Cyprus Non-Dom Tax Status and your eligibility, and supporting you with the registration of the Non-Dom Tax Status (if required);
  • Last but not least, we would be happy to assist you with your relocation needs, such as banking, educational advisory, making you familiar with Cyprus (if required).

 

Please feel free to contact us through below contact form for a first complementary personal consultation via phone or, preferably, via Zoom video conference.