Firstly, the purchase of a new property in Cyprus with a minimum price of €300,000 + VAT is needed. The applicant must have a secured annual income of at least €50,000 coming from abroad. The amount increases by €15,000 for the applicant’s spouse and by €10,000 for each of the applicant’s minor children. A deposit of €30,000 must be transferred to a Bank in Cyprus from abroad and be pledged for at least three years.
Applicants must have a clear criminal record and all necessary documents must be submitted to the Civil Registry and Migration Department
Once the residency permit is granted, the applicant must visit Cyprus within a year to get the residency and provide biometrics. Permanent Residency holders must visit Cyprus once every 24 months.
It is important to mention that no language or medical exams are required to obtain permanent residency in Cyprus.
Benefits of having a Permanent Residency in Cyprus
- You will have the right to enter and permanently stay in Cyprus without any visa requirements
- Ability to travel around Europe
- You do not have to stay in Cyprus permanently. All you need to do is visit the island once every 2 years
If you want to invest in Cyprus, check Golf Properties in Cyprus and get in contact for more information.
Explore the wide range of golf properties in Cyprus and select the one that suits your preferences.
Gather all the necessary documents required for the application. Our team can provide any necessary assistance.
Submit your application and all supporting documents to the Civil Registry and Migration Department in person or through a representative.
Residency Permit and Biometrics
Once your residency permit is granted, finalize the residency process by providing your biometric data.
Of course, as a permanent resident, you can rent out your property in Cyprus. It can also be an additional source of income for you. Many Golf Resorts in Cyprus provide the maintenance of golf properties even when owners are away.
The application process for obtaining Cyprus Permanent Residency typically takes around 2-3 months from the submission of all required documents. Of course, as with all kinds of applications each case is different so processing times may vary.
Yes, it is possible to apply for citizenship in Cyprus after holding permanent residency for five years.
No, residential properties can only be new. You cannot buy a property on resale as part of your investment.