Cyprus Permanent Residency Scheme is a legal status that grants non-EU citizens (third-country nationals) and their qualifying dependents the right to enter, reside, and remain in Cyprus indefinitely (with no time limitations on stay), provided conditions are met.
Each Permanent Residency program is summarized below:
Permanent Residency Program by Investment (Fast Track):
The following scheme is through an investment in Cyprus offering a fast-track basis – obtaining a residence within 2 months.
To qualify for the scheme, investors must follow the criteria below:
- Purchase a new residential property (villa or apartment) from a licensed development company for a minimum value of €300,000 + VAT.
- Applicants must demonstrate a secure annual income from abroad of at least €50,000. This amount increases by €15,000 for a spouse and €10,000 for each underage child.
- Clean criminal record certificate issued by the authorities of their country of origin.
- Open a bank account in Cyprus with a fixed deposit of a minimum amount of €30,000 for three consecutive years.
- Medical Insurance coverage required.
Permanent Residency Program – Category F (Slow Track):
Category F in Cyprus, allows non-EU nationals to get residency with lower financial commitment than fast-track options. While the requirements are more flexible than the fast-track program, processing times are significantly longer usually to 12 -18 months. Moreover, purchase is not mandatory, renting is also possible. However, most applications are generally rejected.
To qualify for the scheme, applicants must follow the criteria below:
- Make a purchase of a property of any value, new or resale is permitted. Funds does not need to be from abroad in regards to the purchase.
- Applicants must demonstrate a secure annual income of €10,000 approx. from abroad. The amount is increased by €5,000 approx. per family member.
- Clean criminal record certificate issued by the authorities of their country of origin.
- Applicants are required to maintain a personal bank account in Cyprus and deposit approx. €15,000 – €20,000.
- Medical Insurance coverage required.
Permanent Residency for Qualified Professionals:
Cyprus offers permanent residency to highly skilled non-EU professionals (third-country nationals) employed by Cypriot companies.
To qualify for the scheme, investors must follow the criteria below:
- Employment contract with a Cypriot-registered company.
- Minimum gross monthly salary of €2,500 (approximately €30,000 annually).
- Clean criminal record certificate issued by the authorities of their country of origin.
- Medical Insurance coverage required.
Conditions & Restrictions of the Permanent Residency Program:
- Applicants and dependents cannot work or be employed in Cyprus. However, they are allowed as shareholders in either a Cypriot company or abroad and receiver dividend income.
- The permit is valid only for residence in Cyprus — no automatic visa-free travel to other EU countries.
- Must personally visit Cyprus at least once every two years (even for a short period/day) to keep the status active.
Benefits of Cyprus Permanent Residency Program:
- Lifelong Status: Residency does not expire, it is valid for life
- Family Inclusion: Residency can be extended to spouses and dependent children.
- Path to Citizenship: Eligible to apply for naturalization after ~8 years of legal residence (with language/integration requirements)
- Tax incentives: There is no tax on inheritance in Cyprus. Dividends, interest, and capital gains are tax-exempt for non-domiciled residents.
- Lifestyle: High-quality healthcare, safety, stability, and Mediterranean quality of life.
Cyprus permanent residency schemes suit investors, retirees, and professionals. Requirements can vary by case, and processing times/backlogs (especially for Category F) may fluctuate. For personalized advice and the absolute latest rules, consult the Cyprus Ministry of Interior or a licensed immigration lawyer — rules evolve, and professional guidance is essential to avoid issues.
