Residence permit by purchasing real estate in Cyprus

Investing in real estate to obtain a residence permit in Cyprus remains one of the most stable and popular investment programmes in the European Union. Cyprus offers investors transparent conditions and a flexible application process, as well as the opportunity to obtain permanent residence for their entire family, without requiring them to live on the island permanently.

A residence permit is issued upon the purchase of new residential property from a registered developer for at least €300,000, excluding VAT. It is permissible to purchase one or more properties, provided their total value meets the established threshold. The transaction must be paid in full and the funds must be transferred from abroad to a Cypriot bank account. Secondary market properties are not eligible for this programme.

Applicants must prove that they have a stable income from outside Cyprus of at least €30,000 per year. For each additional family member, €5,000 is added to this amount and €8,000 for parents. Sources of income may include dividends, salaries, pensions, rental payments, and other legal income. In addition, applicants must provide a certificate confirming they have no criminal record and no intention of seeking employment in Cyprus.

A Cypriot residence permit is granted indefinitely, but the physical residence card must be renewed every ten years. To maintain your status, you must fulfil the basic conditions of owning real estate, maintaining a minimum level of income, and visiting Cyprus at least once every two years.

Applications may include spouses, minor children and adult children under the age of 25, provided they are unmarried and financially dependent on the applicant. In some cases, the parents of the main investor and their spouse’s parents may also be included, making this one of the most flexible programmes in the EU in terms of family composition.

Advantages of a Cypriot residence permit include the right to reside in Cyprus without time restrictions, free movement within the Schengen area once a Schengen visa has been obtained, the possibility of obtaining European health insurance and access to the Cypriot education system. Additionally, Cyprus offers a favourable tax regime: income earned abroad is exempt from taxation for non-domiciled residents, inheritance tax is not levied, and capital gains tax is only payable on the sale of real estate located on the island.

A Cyprus residence permit is also a useful tool for tax and financial planning purposes. Thanks to double taxation agreements with most European and Asian countries, investors can optimise their tax burden and structure their international assets in accordance with European transparency standards.

The programme remains one of the most stable in the EU thanks to strict controls on the origin of funds and transaction transparency requirements, as well as Cyprus’s reputation as a reliable financial and legal jurisdiction. Investing in Cypriot real estate to obtain a residence permit is not only an opportunity to legalise your presence in Europe, but also a step towards establishing a solid foundation for long-term residence, business, and capital protection.

The requirements for the property to be purchased in order to obtain a residence permit in Cyprus are as follows:

To obtain a residence permit in Cyprus under an investment programme based on the purchase of real estate, there are clearly defined requirements for the property used as the basis for the application. These requirements are regulated by the Cyprus Ministry of the Interior and are aimed at ensuring the transparency of the transaction, the legality of the origin of the funds, and the sustainability of the investment.

The property must be classified exclusively as new real estate; it must not have been previously used or registered to another owner. The secondary real estate market is not accepted for the purposes of the programme, which means that it is not possible to apply based on the purchase of occupied or resold housing. The transaction must be concluded directly with a developer who holds a valid licence to build and sell residential properties in Cyprus.

The minimum property value must be at least €300,000, excluding VAT. However, it is permissible to purchase one or more properties if their combined value meets the established threshold. VAT is usually charged at 19%, but a preferential rate of 5% may be applied to properties purchased for the investor’s personal residence.

The property must be residential, meaning it is not possible to obtain a residence permit based on the purchase of land, commercial premises, offices or industrial buildings. It is, however, permitted to purchase flats, apartments, houses or townhouses that meet Cyprus’s construction and operational standards. All properties must be fully completed or in the final stages of construction, and a purchase agreement must be registered with the Department of Lands and Surveys.

Real estate purchases must be paid in full before applying for a residence permit. Funds must come from abroad and undergo a KYC/AML bank check. Payment in cash or through internal Cypriot loans is not permitted. The bank handling the transaction will issue a confirmation of receipt of funds from the foreign applicant, and this confirmation must be included with the application documents.

The applicant must also register the purchase agreement with the land registry and obtain an official document confirming ownership or a certificate registering the transaction. This step confirms the legality of the purchase and secures the property for the investor. It is important that the property is not mortgaged or subject to seizure at the time of application.

If the property is purchased as joint property, the programme allows spouses to be included in the transaction, provided that the total value of the investment is not less than the required minimum. If several properties are purchased, one may be intended for residential purposes and the rest for investment purposes; however, all of them must be new and comply with building regulations.

Cypriot authorities also have requirements for maintaining the investment: the property must remain in the investor’s ownership for the entire duration of the residence permit. Selling the property or transferring it to a third party before obtaining citizenship or changing the basis for residence may result in the cancellation of the investor’s status.

Therefore, to successfully obtain a residence permit in Cyprus, the property must be new and residential, fully paid for, purchased directly from the developer, and registered in the state cadastre. These conditions ensure transparency of investment, prevent speculation on the secondary market, and guarantee that the programme serves its original purpose of attracting real investment and bona fide investors to the country.

Procedure for obtaining a residence permit in Cyprus through the purchase of real estate

The procedure is regulated by the Ministry of the Interior and the Immigration Department of the Republic of Cyprus. It is characterised by a clear structure, transparency, and relatively short processing times, making this programme one of the most attractive in the European Union. Below is a complete list of steps that an investor wishing to obtain a permanent residence permit must follow.

The first step is to select and purchase a property that meets the programme requirements. The property must be new and purchased directly from the developer for a minimum value of €300,000, excluding VAT. After signing the purchase agreement, it must be registered with the Cyprus Land and Cadastre Department. This confirms the legality of the transaction and secures the investor’s ownership rights. Payment must be made in full from a bank account registered in the applicant’s name, and all funds must come from abroad.

Once the transaction is complete, the investor can start preparing the application documents. The main package includes:

• A completed standard application form (MIP1);
• A copy of a valid foreign passport;
• A property purchase agreement bearing a registration mark;
• A receipt for full payment and confirmation of funds received from abroad.
• A certificate confirming that the applicant has no criminal record in their country of citizenship and country of residence.
• Proof of income, showing an annual minimum income of €30,000 (plus €5,000 for each family member and €8,000 for parents).
• A document confirming the existence of medical insurance valid in Cyprus;
• Marriage and birth certificates are required when submitting a joint application.

Once the documents have been prepared, the applicant or their representative should submit the complete package to the Immigration Department of the Ministry of the Interior in Nicosia. Documents can be submitted in person or via a lawyer authorised by a notarised power of attorney. At this stage, the application is registered and the verification process begins.

The next stage is verification of the source of funds and KYC/AML procedures. The Cypriot authorities pay particular attention to the applicant’s financial transparency. Bank transfers are analysed to confirm that the funds are of legal origin and not linked to offshore or sanctioned entities. This process is carried out jointly with Cypriot banks and the Financial Crime Investigation Department.

Once complete, the application is forwarded to the Ministry of the Interior, which makes the final decision on granting a residence permit. If all conditions are met, the applicant receives a preliminary approval notice. In normal cases, processing takes 2–4 months, which is significantly faster than many similar European programmes.

Upon approval, the applicant and their family members must enter Cyprus to provide their biometric data. This can be done at the immigration office in their place of residence or in Nicosia. After that, plastic residence cards are issued to confirm permanent residence status in the Republic of Cyprus.

Although permanent residence in Cyprus is indefinite, the card must be renewed every 10 years. To maintain your status, you must retain ownership of the purchased property, maintain the required level of income, and visit the country at least once every two years. Failure to comply with these conditions may result in your status being cancelled.

The process of obtaining a residence permit in Cyprus is clearly regulated and as simplified as possible for foreign investors. It does not require mandatory residence in the country or language or integration exams, and ensures that status is obtained quickly, provided that all legal requirements are met. For most applicants, the process goes smoothly with the help of a qualified solicitor, who supports the client throughout, from selecting a property to obtaining a residence card.

Thus, the procedure for obtaining a Cypriot residence permit through the purchase of real estate is simple, predictable and legally transparent. It remains one of the few stable investment programmes in Europe aimed at bona fide investors who wish to legalise their stay and strengthen their presence in the European Union.

Permanent residence for investment – main requirements:

– Invest a minimum of €300,000 in residential property in Cyprus (status can be obtained in approximately three months).

To obtain permanent residence, you must invest a minimum of €300,000 in one of the following options:

1. Residential property
2. Commercial property
3. Purchase of one or two properties – New primary property for a total amount of €300,000 plus VAT. Please note that only new properties are eligible for this programme. Secondary properties are not eligible.

• The applicant must be over 18 years of age, have no criminal record and have no sanctions or entry bans in European Union countries or the United Kingdom.
• The main applicant must also have a proven annual income of at least €50,000. This amount increases by €15,000 for a spouse and €10,000 for each dependent child.
• Income must come from abroad and may include salaries, rents, pensions, interest on deposits or dividends.
• Minor children under the age of 18 may be included in the application for permanent residence as dependants.
• The applicant’s children aged 18 to 25 may be included in the application if they are unmarried, financially dependent on their parents and in full-time education.

Neither the applicant nor their family members are eligible to work in Cyprus under this programme. It is also not possible to rent out the purchased property. It must be used for personal residence only. However, you have the right to purchase a different property if you wish to move. However, the new property must cost at least €300,000 plus VAT. Knowledge of the Greek language is not a prerequisite for obtaining permanent residence.

The main advantages of Cypriot permanent residence include a high application approval rate, simplified documentation requirements, exemption from language exams, and tax benefits. Holders of permanent residence enjoy a favourable tax regime: the corporate tax rate is 12.5%, intellectual property tax is 2.5%, and taxes on dividends, inheritance, and capital gains from the sale of shares are not applicable. Foreign residents are exempt from taxes on worldwide dividends, interest and royalties for a period of 17 years under the special ‘non-domicile’ status.

Cyprus stands out from other European investment migration programmes thanks to its combination of a low entry threshold, straightforward procedures and stable legislation. Unlike Portugal and Greece, where you are required to reside in the country for a certain number of days, Cyprus only requires you to visit once every two years. Additionally, permanent residence is granted indefinitely, and the application process takes 10 to 12 months.

The island remains one of Europe’s most investor-friendly jurisdictions. It offers a mild climate with 340 days of sunshine a year, a high level of security, quality education based on the British system, developed infrastructure, and a stable economy. All of these factors make Cyprus an attractive place to live, invest and do business.

To successfully register for permanent residence, it is important to prepare a complete set of documents, correctly draw up confirmation of sources of funds, and correctly register the real estate transaction. Legal support can help you avoid mistakes when submitting your application and speed up the review process. Regulated United Europe specialists provide comprehensive support at every stage, from selecting a property and completing the transaction, to submitting an application for permanent residence and obtaining the final permit.

How long is a residence permit in Cyprus issued for when purchasing real estate?

A residence permit issued on the basis of a property purchase in Cyprus is permanent and granted for an indefinite period. This is one of the key advantages of the Cypriot programme compared to those of other European Union countries. This means that the investor receives a lifetime right to reside in the country, provided that the investment is maintained and the programme’s basic requirements are met.

Once the application has been approved, the applicant and their family members will receive a plastic residence card confirming their permanent residence status in the Republic of Cyprus. The card itself is valid for ten years, after which it is subject to technical renewal — replacement with a new document — without having to go through the entire procedure again. Renewal is automatic upon confirmation that the applicant still owns the specified property and visits Cyprus periodically.

One of the mandatory conditions for maintaining this status is visiting Cyprus at least once every two years. This requirement is formal in nature and is intended to confirm the investor’s connection with the country. An absence of more than two consecutive years may result in the revocation of status, so it is advisable to record the details of each entry and exit.

The residence permit also applies to the applicant’s spouse and dependent children under the age of 25, as well as to the investor’s and their spouse’s parents, provided they are included in the application. Cards are issued to all family members for the same period of 10 years, with subsequent renewal under the same conditions.

Should the investor subsequently decide to become a tax resident of Cyprus or obtain citizenship, permanent residence status will serve as the legal basis for this process. After seven years of residence, subject to certain conditions (including actual residence and tax registration), the investor may apply for citizenship of the Republic of Cyprus.

Thus, a Cyprus residence permit for real estate investment is issued indefinitely, but the residence card must be renewed every ten years and the programme’s key conditions must be maintained. Provided these requirements are met, the investor and their family can live in Cyprus indefinitely and enjoy all the benefits of their status, considering it a long-term basis for integration into the European legal and economic space.

Does a residence permit in Cyprus for the purchase of real estate extend to the family property owner?

Yes, a residence permit issued on the basis of a property purchase in Cyprus extends to the investor’s immediate family members. This makes the programme one of the most flexible and attractive in the European Union. Cyprus’s legislation allows not only the main applicant to be included in the application, but also their spouse, children, and parents on both sides, subject to certain conditions.

The application may include:

1. the investor’s spouse, with whom the applicant is officially married;
2. minor children (under 18 years of age) who are financially dependent on the applicant;
3.  adult children under 25 years of age who are unmarried, financially dependent on the main applicant and in full-time education at a higher education institution;
4.  the investor’s parents and the parents of their spouse, provided they are financially supported by the applicant and either live with them or have their own accommodation in Cyprus.

A separate set of documents must be prepared for each family member, including copies of passports, marriage or birth certificates, criminal record certificates, proof of the main applicant’s income, and valid medical insurance in Cyprus. All documents issued outside Cyprus must be legalised with an apostille and translated into English.

The main requirement of the programme is that the main applicant must demonstrate that they have sufficient annual income from abroad to support all family members. The minimum income required is €30,000 per year, plus an additional €5,000 for each dependent family member and €8,000 for each set of parents. These funds must come from legal sources outside Cyprus and be confirmed by official bank and tax documents.

All family members receive the same permanent resident status in Cyprus as the main investor, with similar rights, including a 10-year resident card which can be renewed. They have the right to live, study and access healthcare in the Republic of Cyprus, and can leave and return freely without any restrictions on the number of trips.

While the programme does not require family members to reside permanently in Cyprus, all residents must visit the country at least once every two years to maintain their status. Failure to comply with this condition may result in the cancellation of the residence permit.

Thus, the Cypriot residence permit programme for real estate investment provides significant benefits for families, enabling investors to obtain residence permits for their immediate relatives without the need for additional substantial investments. This makes it an attractive option for those seeking to provide their families with stable legal status, a high standard of living, and access to European Union educational and medical standards.

How can a residence permit in Cyprus be extended through the purchase of real estate?

Extending a residence permit obtained through the property purchase programme is a simple administrative procedure that does not require the entire investment process to be repeated. As the residence permit issued under this programme is permanent, renewal only involves replacing the resident’s plastic cards, which are valid for ten years. At the same time, permanent resident status is retained indefinitely, provided that the legal conditions are met.

To renew a residence permit, the applicant must confirm that they still meet the programme requirements. The main condition is to retain ownership of the property used to obtain the status. The property must remain in the investor’s ownership and, at the time of renewal, they must provide a current extract from the Land and Cadastre Department confirming ownership. Selling, donating or transferring the property to a third party without purchasing new housing of equivalent value will result in resident status being cancelled.

The second mandatory requirement is periodic residence in Cyprus. The law stipulates that residents and their family members must visit the country at least once every two years. Failure to do so for an extended period may be considered a loss of connection with Cyprus and may result in the revocation of the residence permit. Therefore, it is recommended that you keep evidence of your stays in the country, such as border crossing stamps or electronic entry records.

Before the residence card expires, an application for renewal must be submitted to the Republic of Cyprus’s Civil Registry and Migration Department. The package of documents includes:

• a completed application form;
• the applicant’s valid passport;
• a copy of the previous residence card;
•  a current extract from the land registry confirming ownership of real estate;
• proof of income, showing an annual income of at least €30,000 (plus allowances for family members);
•  proof of medical insurance valid in Cyprus;
•  a certificate confirming that the applicant has no criminal record in the country of citizenship or permanent residence (in some cases, this is not required if there have been no changes in the applicant’s status).

Documents can be submitted in person or through a representative acting under a power of attorney. Once the application has been accepted, a formal check is carried out to ensure compliance with the programme conditions and the validity of all documents. If no violations are identified, the decision on renewal will be made within a few weeks, after which the investor will receive a new residence card valid for the next 10 years.

Please note that the origin of funds is not re-checked during renewal, unless suspicious transactions or complaints are identified. However, immigration authorities may request additional information about the applicant’s financial situation to verify the stability of their income.

Family members of the investor renew their residence permits at the same time as the main applicant. All cards are updated simultaneously and, if necessary, changes can be made to the family composition. For example, a child who has reached the age to be included in the application can be added.

Thus, renewing a residence permit in Cyprus essentially involves an administrative update of the residence card, provided that the property is retained, the income level is maintained and the applicant periodically stays in the country. This straightforward, transparent procedure does not require repeat investments, making the Cypriot programme one of the most sustainable and convenient options for long-term residence and tax planning within the European Union.