Cyprus residency by investment

Due diligence is carried out in permanent residence by investment applications.

The application is submitted with documents that prove the following:

• A copy of the valid passport of the applicant and each dependant, and the applicant's CV.
• A clean criminal record certificate for the applicant and the spouse, from their country of origin and, if different, their country of residence.
• A health insurance certificate covering inpatient and outpatient care for the applicant and dependent family members.
• A statement from the applicant and the spouse that they will not take up any form of employment in Cyprus, except as directors of a company they invest in under this policy. If the investment is not in share capital, they may hold shares in Cyprus companies, receive dividends and act as unpaid directors.
• The marriage certificate, if the applicant is married, and the birth certificates of the children in the application, all certified and officially translated.

Investment and income documents

• For a property investment: the title deed, or a sales contract filed with the Department of Lands and Surveys (DLS), in the name of the applicant, the spouse or a company set up in Cyprus or another EU or EEA state of which they are the sole shareholders or ultimate beneficial owners. The market value is at least €300,000 plus any VAT, and the official payment receipts reach at least €300,000 excluding VAT, whatever the delivery date.
• Proof that the investment money came from abroad, such as remittances or a bank certificate. For a property investment, this proof shows that the money is not a loan taken in Cyprus.
• For other real estate, company shares or fund units: proof of a home in Cyprus, such as a title deed, a sales contract with proof of payment, or a rental agreement. The same applies when the new home has too few bedrooms for the family.
• A recent DLS search certificate for the property, when more than a year separates the signing of the sales contract, or the issue of the title deed, from the date of the application.
• An affidavit or official statement of the applicant's annual income, backed by a tax return from the country of tax residence or by certificates from an independent certified accountant. The income may come from salaries, pensions, dividends, deposit interest, rents and similar sources, and the spouse's income may be counted towards the total.

• The permit ceases to be valid if the holder and dependants live abroad and do not take up residence in Cyprus within one year of approval.
• It ceases to be valid if they are absent from Cyprus for two years or acquire permanent residence in another country.

There are two ways to obtain permanent residence in Cyprus through investment:

• invest in residential or commercial property
• buy shares in a Cypriot company/ Alternative Investment Funds investment.

The right of residence has no time limit for the holder and adult dependants, though the residence card is replaced every ten years. Children's permits run until age 18.

The permit is cancelled if the holder gives up the investment without replacing it at once with a qualifying one of the same or greater value. It is cancelled too if the holder misses the yearly proof of the investment, the health insurance proof for those outside GESY or the three-yearly criminal record certificates. The family's permits fall with it.

In brief, the benefits of the Cyprus permanent residency are the following:

• High standard of living.
• The country is an EU member and stable socially, politically, and economically.
• Legal system based on the British.
• Safe environment, friendly to families. It is a great environment to bring up a family.
• Easy-going lifestyle and many opportunities to socialise.
• Expat community.
• Almost everyone speaks English.
• Favourable tax system.
• Investment-friendly system and jurisdiction.
• Relatively low cost of living.
• Excellent cuisine.
• A cultural life for lovers of history and learning.

A qualifying investment of at least €300,000 can lead to permanent residence, which does not give citizenship by itself. An adult applying for naturalisation needs 12 months of legal and continuous residence right before the application, with absences of up to 90 days in total, and at least 7 years of legal residence in the 10 years before that.

The previous citizenship by investment program was discontinued in 2020.

The law sets further conditions:

• Greek at level B1, shown by a certificate from the Greek Language Certification Examinations of the Greek Language Centre, held through the Examination Service of the Ministry of Education, Sports and Youth, or from the School of Modern Greek of the University of Cyprus. Holders of a diploma from a recognised secondary school whose main language of instruction is Greek, or of a degree from a programme taught in Greek, are exempt.
• A pass of at least 60% in the Ministry of Education examination on the political and social life of Cyprus.
• Good character.
• Suitable accommodation and stable, regular financial resources to support yourself and your family.
• The intention to live in Cyprus.

• We help in every selection, negotiation, buying, selling and registration stage.
• We provide personal consultations, market analysis and advice on choosing suitable buy-to-let properties with the highest ROI.
• We offer professional investment property management services, including rental potential evaluation, maintenance and repairs, administrative duties, tenancy agreement and inventory management.
• If you wish to buy without visiting Cyprus, we act as your agents or proxies. Our dedicated team of trusted professionals, led by Chris Michael, has decades of experience assisting foreign investors in this manner.