Cyprus Permanent Residency
Benefits Of Cyprus Permanent Residency
- Permanent residence for the applicant and eligible family members;
- Permanent residency in Cyprus is valid for life;
- Competitive corporate tax regime for business owners;
- No inheritance or estate taxes in Cyprus;
- Attractive tax planning opportunities for individuals who become Cyprus tax residents;
- Access to excellent healthcare and internationally recognised educational institutions.
Our team of experienced professionals work closely with the applicant to ensure the procedure is carried out correctly and efficiently.
Fast Track Procedures based on regulation 6 (2) Application
Cyprus offers an accelerated Permanent Residence Programme under Regulation 6(2) of the Aliens and Immigration Regulations for eligible third-country nationals. The programme enables applicants and their qualifying family members to obtain permanent residence in Cyprus, subject to meeting the applicable investment and financial criteria.
Eligibility Requirements
Applicants must satisfy the following principal requirements:
- Secure Annual Income
The applicant must demonstrate a secured annual income of at least €50,000, derived from sources outside Cyprus, such as:
Employment income earned abroad;
Pension income;
Dividends;
Interest;
Rental income; or
Other lawful sources.
The minimum annual income is increased by €15,000 for the spouse and €10,000 for each dependent child.
- Investment in Cyprus
The applicant must invest at least €300,000 (plus VAT, where applicable) in one of the qualifying investment categories prescribed by the programme, including qualifying residential real estate.
Evidence of the required investment and payment must accompany the application.
- Transfer of Funds
The investment funds and the applicant’s income must be proven to have been transferred to Cyprus from abroad through the banking system.
- Clean Criminal Record
Applicants must submit a valid clean criminal record certificate issued by the competent authorities of their country of origin and/or country of residence.
- Declaration Regarding Employment
Applicants must declare that they do not intend to undertake employment in Cyprus. However, they may hold shares in a Cyprus company and receive dividend income, and they may serve as directors of such companies without receiving remuneration where permitted by the applicable legislation.
- Retention of Permanent Residence
Permanent residence holders are required to visit Cyprus at least once every two years in order to maintain their permanent residence status.
Family Members
The application may include the applicant’s spouse and dependent children, subject to the applicable immigration regulations and eligibility requirements.
Applications involving adult dependent children or other family members are assessed separately in accordance with the prevailing immigration legislation.
Individual Assessment
Each application is considered on its own merits, taking into account the applicant’s personal circumstances and compliance with the applicable legal and immigration requirements.
Regulation 5(F) Permanent Residence
Permanent residence under Regulation 5(F) remains available in certain circumstances through the standard immigration procedure. Unlike the accelerated programme under Regulation 6(2), applications under Regulation 5(F) are assessed on the basis of the applicant’s financial self-sufficiency and other immigration criteria.
Applicants are generally required to demonstrate:
Adequate and secure income from lawful sources outside Cyprus;
Suitable accommodation in Cyprus;
No employment in Cyprus;
A clean criminal record; and
Compliance with all immigration and due diligence requirements.
Applications submitted under Regulation 5(F) are examined individually by the Civil Registry and Migration Department, and processing times are generally longer than those applicable to the accelerated programme.
Our experienced legal, immigration and tax professionals provide comprehensive assistance throughout the application process, ensuring that each application is prepared efficiently and in full compliance with the applicable Cyprus legislation.