Investment Home

Cyprus: Investment Residency Permit

If European Residency by Investment is what you are after, then Cyprus is a fantastic option.  To be eligible you need to purchase property for €300,000 or more and transfer €30,000 into a local bank account.  This is one of the lowest requirements for residency in Europe.  The process is very straightforward and fast (permits take approx 1 month to process) and it can all be arranged from your home country.  Once you have the permit, you only need to visit Cyprus for a day every two years to keep your residency.

The benefits of a residency permit in Cyprus is:

  • The freedom to live in a beautiful part of the world
  • Visa free travel within the Schenghen region
  • Permanent residency for yourself, your spouse and dependents up to the age of 25
  • Permanent residency forever - there is no need to renew the permits.
  • The ability to apply for citizenship of Cyprus and the EU after 7 years of residence or after 5 years if you have Cypriot children


Investment

You can apply for an Investment Residency permit if you meet the following criteria:

  • Transfer at least €30,000 into a financial institution in Cyprus from an overseas account, which will be pledged for a period of at least three years.
  • Prove that you have a secure annual income of at least €30,000 from overseas sources.  For each dependent, the annual income increases by €5,000 and for each dependent parent or parent-in-law it increases by €10,000
  • Purchase real estate to the value of €300,000

Investment Residency Permit Key Points

Programme Name:Investment Residency Permit Minimum investment:EUR 300,000
Time to permanent residency: Immediate Time to citizenship:7 years
Typical processing time:3 months Minimum stay:Visit every 2 years
Visa Free Countries:151 Passport Ranking:37th
Cost of Living Rank:47th Corruption Rank:48th

Cyprus Overview

This major tourist destination in the Mediterranean is not just perfect for a relaxing holiday. Expats looking to live close to the best beaches in Europe and aspire a sunlit lifestyle don’t have to search anymore: Cyprus is the place. 

Cyprus is one island and an independent nation, but there are still two ‘countries’ to choose from when you want to call the island your new home. In spite of the fact that there is a dispute over the exact governance of Cyprus, it is a stable European Union democracy with an extremely low crime rate and is one of the safest places in the world. The island is child friendly and has great education options. It only rains 40 days out of the year and it’s sunny on more than 300 days. The Cypriot economy is growing and unemployment numbers are dropping. Tourism is very important to the island; nearly 3 million people visit the island every year. 

Locals speak a mix of Turkish and Greek but almost everybody speaks English too, which is convenient for expats from all over the world. Perhaps this is why there is a large expat community on the island and plenty of opportunities to meet new people. Taxes in Cyprus are low, finding a house is easy and rent is cheap compared to most places in Europe. 

Explore on wherecani.live

The passport for Cyprus allows you to travel to 151 countries without a visa.

Its global rank is 37.