CYPRUS PERMANENT RESIDENCE PERMIT
Cyprus offers an expedited procedure for granting an Immigration Permit to eligible third-country nationals who invest in the country, subject to the criteria and requirements set by the Cyprus Migration Department under Regulation 6(2) of the Aliens and Immigration Regulations.For international buyers considering purchasing a new property in Cyprus, investment in residential real estate is one of the qualifying investment options.
MAIN INVESTMENT REQUIREMENTSTo qualify through the purchase of residential property, the applicant must generally meet the following key requirements:
- Be a third-country national (non-EU citizen).
- Purchase a new house or apartment from a development company as a first sale.
- Make an investment of at least €300,000 plus VAT.
- Provide official evidence of payment of at least €300,000, excluding VAT.
- Demonstrate that the funds used for the investment originate from abroad, in accordance with the applicable requirements.
- Demonstrate a secure annual income of at least €50,000.
- The required annual income increases by €15,000 for the spouse and €10,000 for each dependent minor child.
- Meet all applicable legal and qualitative criteria required by the Cyprus Migration Department.
Other qualifying investment categories may also be available under the programme, subject to the applicable criteria.DEPENDENT FAMILY MEMBERSThe Immigration Permit may cover:
- The applicant’s spouse.
- Dependent children under the age of 18.
- Unmarried children between the ages of 18 and 25 may, subject to specific conditions, submit a separate application. They must be students in tertiary education abroad at the time of application and financially dependent on the applicant. Additional income requirements apply.
Under certain conditions, adult children who are not financially dependent may also qualify where a higher-value investment is made, in accordance with the applicable regulations.PERMIT VALIDITYThe residence right granted under the Immigration Permit is of unlimited validity for the holder and eligible adult dependants, provided that the applicable conditions continue to be met.The physical residence permit card is valid for 10 years from the date of issue and must be replaced upon expiry.The permit may cease to be valid in certain circumstances, including where the holder and their dependants acquire permanent residence abroad or remain outside Cyprus for a period of two years.
WHY CHOOSE CYPRUS?Cyprus combines a strategic location with a high standard of living and a well-established business environment.Key advantages include:
WHY CHOOSE CYPRUS?Cyprus combines a strategic location with a high standard of living and a well-established business environment.Key advantages include:
- Strategic location at the crossroads of Europe, Asia and Africa.
- EU Member State.
- High quality of life.
- Mediterranean climate and attractive coastline.
- High standard of education, including international and English-speaking institutions.
- Access to quality private and public healthcare services.
- Modern telecommunications and infrastructure.
- Strong professional services sector.
- Legal system with strong Common Law influences.
- International air connectivity.
- Attractive environment for international business and investment.
INVESTING IN PROPERTY IN CYPRUSPurchasing property in Cyprus can provide international buyers with both a home in a Mediterranean EU country and, where all applicable criteria are satisfied, an investment that may qualify for the Cyprus Permanent Residence expedited procedure.Africanos Property Developers offers a selection of new residential developments in prime locations in Larnaca, suitable for permanent living, holiday use and investment.Our team can provide information regarding our available properties and can assist buyers throughout the property purchasing process.
For immigration, legal and tax matters, applicants should obtain independent professional advice from qualified advisers.
CONTACT USDiscover our available properties and learn more about purchasing a new home in Cyprus.Africanos Property DevelopersTel: +357 24 828161Email: [email protected]
Contact our team for further information about our properties and the property purchasing process in Cyprus.
Disclaimer: The information provided on this page is for general informational purposes only and does not constitute legal, immigration, tax or investment advice. Eligibility for an Immigration Permit is determined exclusively by the competent authorities of the Republic of Cyprus and is subject to the legislation, policies, criteria and procedures applicable at the time of application. Immigration requirements may be amended from time to time. Prospective applicants should obtain independent professional advice and consult the Cyprus Migration Department for the latest official requirements.
For immigration, legal and tax matters, applicants should obtain independent professional advice from qualified advisers.
CONTACT USDiscover our available properties and learn more about purchasing a new home in Cyprus.Africanos Property DevelopersTel: +357 24 828161Email: [email protected]
Contact our team for further information about our properties and the property purchasing process in Cyprus.
Disclaimer: The information provided on this page is for general informational purposes only and does not constitute legal, immigration, tax or investment advice. Eligibility for an Immigration Permit is determined exclusively by the competent authorities of the Republic of Cyprus and is subject to the legislation, policies, criteria and procedures applicable at the time of application. Immigration requirements may be amended from time to time. Prospective applicants should obtain independent professional advice and consult the Cyprus Migration Department for the latest official requirements.
