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Cyprus

With its beautiful beaches and tropical Mediterranean climate, Cyprus is considered an ideal destination for permanent residence for non-EU nationals.

Country Information 

Situated between three continents, Cyprus is an attractive tourist destination with an excellent geographical positioning.

Population:

1.3 million

Languages:

English, Greek

Economy:

Modern, service-based

Currency:

Euro





Living in Cyprus

Cyprus, with its warm and stable climate and convenient geographical position, is considered an attractive place for both business and residence. The investment landscape in Cyprus is beneficial due to the island’s well-qualified labor force and a reliable transport and telecommunications system.

Cyprus has a modern, free-market, service-based economy, where in conjunction with its effective and transparent regulatory and legal framework, it offers international investors and businesses the confidence to invest, grow, and prosper. Cyprus was ranked number 54 out of 190 countries on the World Bank's Ease of Doing Business Index 2020. A number of new measures have been put into place to reboot the economy in the wake of the massive and difficult restructuring of the country’s banking sector. These measures are aimed, among other things, at helping to stimulate economic growth.





















Benefits of a Cypriot golden visa


  • The application procedure is highly efficient, with a high approval rate if all criteria are satisfied.
  • It is not necessary to reside in Cyprus, but a visit once every two years is required.
  • Dependents can be enrolled in high-quality private schools offering English language courses.
  • Residence applies to the main applicant’s spouse and children under 25 years.
  • The whole process can be arranged without being present in the country, except for biometric capturing.
  • Successful applicants are eligible to apply for Cypriot citizenship after seven years of residence.


Cyprus golden visa requirements

To qualify for residence, applicants must fulfill both of the following requirements:

Choose one of the following options:

- Purchase up to two new immovable residential properties of a total market value of at least EUR 300,000 plus VAT, with the option to purchase from two different developers.
= Purchase up to two new or used immovable non-residential properties (offices, shops, hotels, or other developments) of a total market value of at least EUR 300,000 plus VAT
= Invest EUR 300,000 in the share capital of a physical company registered and operating in Cyprus, which employs at least five people.
= Invest EUR 300,000 in units of the Cyprus Investment Funds Association’s collective investments (AIF, AIFLNP, RAIF).
Provide supporting evidence of a secured annual income of at least EUR 50,000 deriving from abroad (an additional EUR 15,000 is required for each dependent spouse and EUR 10,000 for each minor child).
In addition, applicants must satisfy the following requirements:

= Submit clear criminal record certificates from the country of origin and country of residence every three years (also applicable for all adult dependents).
= Provide an official statement confirming non-employment (not applicable to applicants who are directors of a company they have invested in).

Procedures for the Cyprus golden visa

​Applications for Cypriot residence must include completed application forms and should be accompanied by the appropriate fees and supporting documents. Successful applicants must annually provide evidence of maintaining their investment and proof of health insurance if they no longer benefit from the General Healthcare System. The income derived from abroad may include employment salaries, rent, pension, interests on deposits, and dividends from shares.



Cyprus Real Estate

Everything you need to know about acquiring premium real estate in Cyprus and linked to the Cyprus Residence by Investment Program


Minimum real estate investment

EUR 300,000

Type of​ ownership

Sole, shared, freehold, company or trust


Rental income opportunity

3-5% on residential property

Holding period of real estate

Necessary to maintain and renew residence permit (Regulaton 6(2) option)


Buying Real Estate in Cyprus


The real estate market in Cyprus saw an increase in property demand from 2004–2008, which led to developers increasing supply to meet the demand. However, due to the global financial downturn, the demand for real estate dropped, leaving many completed properties available in 2009. Without demand, the prices reduced significantly. However, from 2016 there has been a constant increase in demand and the number of transactions taking place across the island. Such an increase has helped prices to stabilize and has started showing annual increases. 


The main element of a healthy Cyprus real estate market has always been residential property and, specifically, within the luxury segment, second homes.


The property options in Cyprus that offer buyers the highest value for money include:


Seafront properties

The areas in highest demand provide lifestyle aspects (that is, beaches) and infrastructure, which are areas such as Ayia Napa, Limassol, and Pafos

Integrated master planned communities

These areas usually have a casino, golf course, or community at their core, offering properties that cater to all types of owners and include locals, new residents, second-home owners, and vacationers

The price per m2 for properties of this nature is generally between EUR 10,000 and EUR 22,000, depending on the location and building specifications. A good figure to maintain is around EUR 10,000, as you can be comfortable knowing that there is room for appreciation.


Most foreign buyers purchase properties in the above mentioned classifications, as opposed to purchasing a property in the capital city..



Cyprus residence by investment program frequently asked question

The Cyprus Permanent Residence Program grants residence to individuals and their families through significant economic contributions to the country.

To qualify for residence, applicants must invest in real estate, a Cyprus-registered company, or applicable investment funds, and show an annual income of at least EUR 50,000 from abroad.

Benefits include the right to live and study in Cyprus, low residence requirements, and an efficient application process.

The minimum investment starts at EUR 300,000 for real estate purchases.

Processing times for residence by investment applications may vary. Please contact us to find out more.


Yes, the main applicant can include their spouse and dependent children in their application.

Applicants must visit Cyprus at least once every two years to maintain their residence status.

Required documents include a valid passport, proof of investment or contribution, a clean criminal record, an official statement confirming nonemployment (except for applicants who are directors of a company they have invested in), and other supporting documents.

Yes, after maintaining residence for seven years, investors may be eligible to apply for Cypriot citizenship.

Applicants must make a qualifying investment, submit the application with the necessary documents, and undergo a due diligence process.