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Cyprus permanent residence

If you’re interested in obtaining a Permanent Residence Permit in Cyprus through purchasing property, AN Advisory offers a free consultation service to help guide you through the process.

We will provide you with information on the requirements for the Permanent Residency by Investment Programme and help you find properties that meet those requirements. We will also assist you with the application process and provide you with any additional information you may need.

Contact AN Advisory to schedule your consultation.

FAQ on obtaining Cyprus permanent residency you can find below on this page.

Steps on acquiring Cyprus permanent residence:

Step 1

Free consultation - We will furnish you with the details on the Permanent Residency by Investment Programme's eligibility criteria and assist you in locating properties that meet those criteria.

Step 2

Identifying and purchasing a property in Cyprus that meets the requirements for the Permanent Residency by Investment Programme. These include a minimum purchase price of €300,000 plus VAT and a requirement that the property is new or under construction. Commercial properties are also an option, which can be new, under construction or resale (if resale, normally VAT is not applicable).

Step 3

Your presence in Cyprus is not required for the submission of the application/s. This can be undertaken on your behalf by our trusted legal team.

Step 4

Obtain a Permanent Residence Permit, which is valid for an indefinite period; requiring a simple administrative procedure to renew only the cards every ten years.

FAQ on obtaining Cyprus permanent residency

Here are answers to some common queries about obtaining permanent residency in Cyprus.

Is there a new set of criteria for the PRP, and if so, from when is it valid?

The new criteria concern applications submitted from 02/05/2023 onwards.

For all real estate sale agreements registered with the Land Registry Office between 02/01/2023 and 28/04/2023, the previous criteria will be considered with the examination of any application.


What type of investments qualify someone to apply for the PRP?

Applicants must make an investment of at least EUR 300,000 in one of the following

*(A) Investing at least €300,000 plus VAT in new residential real estate a (house/apartment)
from a real estate development company, which should be a first-time purchase and
therefore subject to VAT. Please note that first-timethe applicants may purchase up to two
(2) units (condos or houses) sold by the land development company (not necessarily from
the same developer). 
*(B) Investing in other types of real estate (excluding houses/apartments): e.g. offices,
shops, hotels or a combinations thereofof these, totalling EUR 300,000. These types of
properties can be resoldThese types of properties do not need to be new and can be resale
properties (in which case not subject to VAT).
(C) *Investing in the share capital of a Cypriot company with operations and employees in
Cyprus: at least EUR 300,000. The company must demonstrate a physical presence in
Cyprus and employ at least 5 (five) people.
(D) Investing at least EUR 300,000 in shares/units of Cyprus Investment Organization of
Collective Investments (AIF, AIFLNP, RAIF).

Should the property be brand new?

For an investment under (A), the property must be new, and for an investment under (B), the
commercial property does not have to be brand new. If the applicant chooses options B, C or
D, he/she should still present evidence of a place of residence in Cyprus which can be either
purchased or rented.

How to distinguish between a resale and a new property?

A resale is a property that was previously owned by another owner, while for a brand new
property, the applicant is the first owner. Brand new properties have a VAT rate of 19%,
while older properties are exempt from VAT.

Does the whole amount of the investment need to be paid before the application?

When investing in residential or other properties, the application requires evidence that the contract of sale was registered with the Land Registry Office, along with official receipts showing the minimum payment of €300,000 (excluding VAT), irrespective of the date the property is delivered. It must be verifiable that the funds invested originate from abroad and are not resulting from internal loans (from Cyprus)

Can the purchase of property be made by a company?

Yes, but the company should be legally registered in the Republic of Cyprus or another
member state of the European Union or the European Economic Area and the applicant
and/or their spouse must be the sole shareholder/s or ultimate beneficial owner/s of the

Are trust deeds accepted instead?

Trust deeds are acceptable. The applicant could be the UBO of the company.

What is the difference between Permanent Residency under Category F and this Permanent Residency under Regulation 6(2)?

Regulation 6(2) concerns the information given in this fact sheet. Category F takes longer to be examined and its main provisions are:

  • Examination period of approximately 2 years.
  • Any property either new or for resale is admissible.
  • Children under 18 lose their PR status upon turning 18 and cannot renew it unless they apply independently.
  • The holder of PRP (under Category F) is not allowed to be a shareholder and/or director in a Cyprus company.
Are there Specific Financial Requirements to apply for a PRP?

In addition to meeting the criteria mentioned above, the applicant should be able to prove that they have at their disposal a minimum annual income of at least €50,000 originating from abroad and is not a product of domestic borrowing (remittances, foreign card payment receipts, bank certificate).

The annual income is further increased by €15,000 for a dependent spouse and €10,000 for each dependent minor child.

In cases where the applicant invests in a house or apartment under the investment criterion (A), this income can be from salaries, pensions, stock dividends, fixed deposits, or rents originating from abroad. Such income, however, can only be proven by tax declarations of the applicant from the country in which the applicant is tax resident or through an official declaration by an independent certified chartered accountant. The income of the applicant’s spouse may also be considered when calculating the total income.

Additionally, the applicant must satisfy the KYC (Know Your Client) and AML (Anti Money Laundering) requirements of the receiving banking institution (e.g., the bank of the seller).

Which Family Members are Eligible for a PRP?
  • The main applicant.
  • Their spouse.
  • Minor children up to the age of 18 years.
  • Unmarried children between the ages of 18 and 25, who are students in higher education abroad on the date of submission of the application, and who are financially dependent on the applicant, may submit their own, separate application for obtaining an Immigration Permit. In such cases, the parent and/or both parents together must prove that they have an additional annual income of €10,000 for each such dependent child. Once issued, the permit will continue to be valid even after they reach the age of 25, even if they marry and cease to be students and/or financially dependent on their parents.
  • Applicants are no longer able to include their parents or parents-in-law in their application.
Do I have to renew the PRP?

No, it is not necessary. the PR is valid for life (requiring only a simple administrative
procedure to renew only the cards every ten years).

Do I need to do anything on a regular basis to keep the PRP?

Applicants are required to verify annually that they maintain their investment through a land registry search certificate, and that they all continue to have valid health insurance coverage, if not registered with GESY. The applicant, their spouse and adult child/ren need to submit a clean criminal record from their country of origin and residence every three years. In case the applicant fails to provide the above, then their and their dependents’ residence permits will be voided.

Can I work in Cyprus and be granted a PRP?

The PRP holder can hold shares in Cyprus registered companies (and receive dividends). The applicant must certify that they do not intend to work in Cyprus, apart from acting as directors in a Company in which they have chosen to invest within the framework of this policy. If the investment does not concern a Company’s share capital, they may be shareholders in Companies registered in Cyprus and receive dividends. They may also hold the position of director in such companies without financial compensation.

Can I travel to Schengen countries without a visa?

No, you will need to have a Schengen Visa.

Do I have to live in Cyprus to keep the PRP?

There is no requirement to live in Cyprus. The applicant and his/her dependents are required
to visit Cyprus within one year from the date of issuance of their PR approval certificate in
order to submit their biometric data and signatures and obtain their PR cards. After this, the
PR holders would only need to visit Cyprus once every two years.

Do I need to sit special language and history exams?

No, it is not necessary.

Can I buy two properties?

For residential properties, the applicants can purchase up to two new units (apartments or houses), the total value combined to meet the criteria is investment category A above.

The applicant may purchase up to two (2) residential properties, provided that the total market value meets the above criteria. Said purchase must be new residences sold by the developer unless the purchase of the houses took place prior to 7th May 2013.


The content of this article is valid as of the date of its first publication. It is intended to provide a general guide to the subject matter and does not constitute legal, financial, or any other types of advice. We recommend that you seek professional advice on your specific matter before acting on any information provided.

There are several ways to obtain a Residence Permit in Cyprus, which include:

Permanent residence byConditions
Investment programPurchasing property with a minimum purchase price of €300,000 and a requirement that the property is new or under construction.
EmploymentObtain a Residence Permit by obtaining a long-term work contract in Cyprus.
InvestmentObtain a Residence Permit by making a significant investment in Cyprus, such as investing in a company or starting a business.
Family TiesObtain a Residence Permit by being the spouse or child of a Cypriot citizen or
a Permanent Resident of Cyprus.
StudiesObtain a Residence Permit by studying in Cyprus for more than 2 years.

98% of our clients recommend us

4.8 out of 5 based on 256 reviews
Yana Sokolova
Limassol, Cyprus
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I had an amazing experience working AN Advisory. Their team was professional, knowledgeable, and truly cared about finding me the perfect home. They went above and beyond to ensure I was happy and satisfied with my purchase, and I couldn't be more grateful for their help. I highly recommend them to anyone looking to buy or sell a home. 30 October 2022
Ivan K.
Limassol, Cyprus
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I want to thank Andrey for his professional support. He was very helpful, always available to answer all my questions and provide me with expert guidance throughout the entire buying process. Will definitely recommend AN Advisory services. 14 July 2023
Dmitry Karlov
Limassol, Cyprus
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The team was friendly, professional, and very knowledgeable about the Cyprus real estate market. They prepared for me a selection of very interested investment options in Limassol that met my requirements and negotiated a good price on my behalf. I am very satisfied with their services and planning to invest more in Cyprus 10 November 2023
Ioannis Constantinou
Limassol, Cyprus
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Good work, fast and reliable. 21 December 2023