What are the requirements to obtain a fast track permanent residence (PR) by Property Investment in Cyprus?

Single Applicant

Minimum Investment

1) €300,000 purchase of a new residential property in Cyprus; and

2) Deposit at least €30,000 into a Cypriot bank for a minimum three-year period; and

3) Evidence of secure annual income from abroad of at least €30,000

Applicant + spouse

Minimum Investment

1) €300,000 purchase of a new residential property in Cyprus; and

2) Deposit at least €30,000 into a Cypriot bank for a minimum three-year period; and

3) Evidence of secure annual income from abroad of at least €30,000 + (plus the below)

For each dependent person added to the application for permanent residency (such as wife and children), the minimum amount of the secured annual income is increased by €5,000

General Notes:

• Income should derive from legal sources (i.e. salary, pension, interest, dividends etc.). Exceptionally, for the fast track permanent residency applications, it is also possible that the income is been derived from dividends of a Cyprus company

• A bank deposit of funds (i.e. €30,000) must be created in a bank operating in Cyprus in a 3-year fixed deposit account 

• A clean criminal record certificate issued by the applicant’s country of origin

• A statement/affidavit confirming that the applicant has no intention to work in Cyprus

• The applicant must visit Cyprus at least once every two years