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Cyprus Residency Program

Cyprus is the third largest island in Mediterranean, with sparkling, warm sea and over 300 sunny days in a year, it is ultimate holiday destination, famous for luxury beach resorts and rich gastronomy. But Cyprus is also an all year island, with every season offering different activities for visitors and residents. During winter, slopes of Mount Olympus, the top of Troodos Mountains range, are covered in snow, attracting skiers and snowboarders for ski trips and weekends out in the snow. Hikers and nature lovers can go for a hike, picnics, bike rides, fishing or to explore Cyprus rich flora and fauna during spring and autumn days. Long summers are reserved for watersports, boat trips, waterparks or relaxing days at the beach with family and friends and visiting Troodos charming villages is a perfect getaway from summer heat. Together with modern shopping malls, restaurants for fine dining and traditional taverns, luxury spas, gyms and vibrant nightlife, it is clear that Cyprus lifestyle has it all. It is the perfect location for forever home or for property and business investment. 

Cyprus has a strategic position at the crossroads of 3 continents – Europe, Africa and Asia and it was ruled by many civilizations throughout history, each of them leaving their own stamp in rich Cyprus culture and heritage. Nowadays, Cyprus is a modern, democratic country, member of EU since 2004 and Eurozone. With a stable economy, depending mostly on the service sector and tourism, with one of the lowest corporate tax rates in Europe, Cyprus is attracting more and more visitors who are permanently relocating, in search of that lavish, cosmopolitan lifestyle Cyprus has to offer. Modern private schools and universities, lowest crime rates, secure social system, excellent healthcare services and lower costs of living compared to the rest of the EU are the reasons why Cyprus recently became a new home for many foreigners.

Cyprus real estate market is constantly growing and in recent years, impressive developments are emerging throughout the island. From modern villas, hi-tech apartment complexes, commercial and residential high-rise towers and iconic buildings to luxurious marinas and ports. Just one glance on Limassol skyline from the distance will give you a clear picture of the scale of ongoing projects. Cyprus real estate industry employs 10% of the workforce in Cyprus and contributes with 17% in Cyprus Gross Value Added. Even the number of issued building permits in Q1 2020 was higher than in 2019 (source: KPMG Cyprus).

In 2013 Cyprus government introduced the Cyprus Residency Program, enabling non-Eu citizens to obtain a permanent residency permit in Cyprus, through investing in properties.


Benefits for holders of Cyprus permanent residency permit are:

  • Living in EU country with family and in-laws, in a safe, family friendly environment,
  • Non-EU citizens can permanently reside in Cyprus, with no limitations and no permit renewal requirement,
  • Low property investment requirement of only EUR 300,000,
  • Lower living costs and tax rates,
  • Fast application and completion procedure (within 2 months from submitting application),
  • Residency can lead to Cyprus citizenship, after spending 7 years in Cyprus.

Procedure for Cyprus permanent residency:


Purchase of residential property of at least EUR 300,000 (VAT excluded)


Submitting application documents to Civil Registry and Migration Department


Receiving Permanent Residency Permit within 2 months from application

Documents needed for application:

  • Applicant’s Curriculum Vitae,
  • Title of ownership or contract of sale for the property in Cyprus, over EUR 300,000,
  • Bank Swift for the payment and receipts of payment,
  • Copy of applicant’s passport, his spouse and children too,
  • Marriage certificate translated in English,
  • Children’s birth certificates translated in English,
  • Original criminal record certificate,
  • Documents to prove annual income abroad.

Download Cyprus The Low Tax Business Hub Digital Booklet

Download British & Other Nationals Residency & Taxation Digital Booklet

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