IPN Guide: Cypriot Permanent Residency through Investment

Requirements and conditions

Note: Below form the requirements for accelerated process which takes 2 months, from the date of the submission of the application.


  • The client does not need to reside in Cyprus as long as the applicant, plus any family included in the Immigration Permit, visit the island at least once every two years.
  • The applicant should be an owner of a property (sold for the first time by a development company) in Cyprus. This can be a house, an apartment or any other building, for a minimum value of €300,000 + VAT (if any). Note: Applicant may buy multiple properties as long as the total amount is for a minimum value of €300,000 + VAT (if any)
  • Government requires documented proof that the applicant and/or his/her spouse have a secured minimum annual income of €30,000, (increase by €5,000 for each dependent person) from sources originating from abroad (salaries, pensions, dividends, rents etc.).
  • The applicant should submit a confirmation letter from a financial institution in Cyprus that he has deposited a minimum capital of €30,000 into an account, which will be pledged for a period of at least three years. Note: It must be proved that the said amount has been transferred to Cyprus from abroad.
  • The applicant and his/her family included in the Immigration Permit must submit with their application, all documentation needed as per the checklists provided by the Cyprus Government.

Regarding Immediate Family:

  • The permit covers his/her spouse and children under the age of 18. The said permit is also applicable for unmarried children aged 18 to 25 who may prove that they are students at a University and are financially dependent on the applicant. The said permit will be valid for life after the age of 25 without any other supportive document.
  • The parents of the main applicant and those of his/her spouse are also able to apply and obtain the Permanent Residence Permit by just showing an extra €8,000 each on the main applicant’s income certificate.

The applicant and his/her spouse shall confirm that they do not intend to be employed in Cyprus but it is to be noted that the applicant and/or his/her spouse may be a shareholder(s) in a Company registered in Cyprus and the income from the dividends of such a company in Cyprus are not deemed an impediment for the purpose of obtaining an immigration permit.


Procedure


  • Copy of valid passport.
  • Curriculum Vitae (including academic qualifications).
  • Statements of deposits in a Cypriot Bank account, of a minimum capital of €30.000 (original).
  • Declaration of a secured annual income of a capital of €30.000 at least, from sources other than employment in Cyprus (original documents and affidavit). The necessary annual income is increased by €5.000 for each dependent person.
  • Title of ownership or contract of sale of a built property in Cyprus of a minimum market value of €300.000 (original or true copy). If the title of ownership has not been obtained yet, the applicant must submit the contract of sale duly stamped by the Stamps Commissioner and the Department of Lands & Surveys and proof of payment for at least €200,000.
  • Official Statement by the applicant that he/she does not intent to work or be engaged in any form of business in Cyprus.
  • Health Insurance Policy.
  • Certificate of criminal record from the country of origin, as well as the country of residence (if it differs) of the applicant
  • Marriage Certificate

Note : All the documents issued by a foreign authority should be translated to either Greek or English and be duly authenticated (They should bear the stamp «APOSTILLE», if they are issued by countries that have signed the Hague Convention, otherwise they should be sealed by the Ministry of Foreign Affairs of the issuing country and the diplomatic mission of the Republic of Cyprus in the issuing country).