Requirements for Investors to Obtain a Residence Permit in Cyprus

To participate in the Cyprus Permanent Residency by Investment programme, applicants must invest at least €300,000 in an eligible asset, demonstrate a secure annual income from abroad, provide evidence of the lawful source of their funds and successfully complete due diligence. Additional conditions vary depending on the chosen investment option. This guide explains the available investment routes, financial criteria, required documents and other conditions that applicants should meet before submitting an application.

Key Requirements at a Glance

Who Is Eligible to Apply for Cyprus Golden Visa?

The Cyprus Permanent Residency by Investment program is available to non-EU and non-EEA nationals who satisfy the program’s investment, financial and legal requirements.

A principal applicant may include eligible family members in the same application, including:

• A spouse
• Children under 25

Each family member included in the application must also satisfy the relevant documentation and due diligence requirements.

Investment Requirements

Applicants must make a minimum qualifying investment of €300,000 (plus VAT where applicable) in one of the investment categories approved under the program.

Although the program offers several qualifying investment routes, real estate remains the most popular choice among investors. Residential and commercial property provide a tangible asset alongside permanent residency, making them an attractive option for applicants seeking both a lifestyle and investment opportunity. 

Real Estate

Applicants may satisfy the investment requirement by purchasing eligible real estate with a minimum value of €300,000 (plus VAT). It must be new and bought directly from a developer. The investment may consist of one or more properties, provided the program’s investment threshold is met. Property may be purchased either in the applicant’s own name or through an eligible company. Investors are also permitted to rent out the property, allowing them to generate rental income or benefit from long-term capital appreciation. 

Investment in a Cyprus Company

Permanent residency may also be obtained through an investment in the share capital of a Cyprus company.

The company must generally:

• Have a physical presence in Cyprus
• Employ at least five people
• Conduct genuine business activities within the country

Applicants must invest a minimum of €300,000.

Investment Funds

Another qualifying route is an investment of at least €300,000 in an eligible Cyprus-regulated collective investment scheme.

Eligible funds include certain:

• Alternative Investment Funds (AIFs)
• Alternative Investment Funds for Limited Number of Persons (AIFLNPs)
• Registered Alternative Investment Funds (RAIFs)

Investments must comply with the program’s regulatory requirements.

Financial Requirements

In addition to the qualifying investment, applicants must demonstrate a secure annual income from abroad sufficient to support themselves and their family members.

The current minimum annual income requirements are:

Income may generally be derived from sources outside Cyprus, including:

• Employment income
• Pension income
• Dividend income
• Interest
• Rental income

Applicants are also required to provide supporting financial documentation, including evidence of income and, where applicable, a tax declaration from their country of tax residence.

Source of Funds Requirements

Applicants must demonstrate that both the qualifying investment and their income originate from lawful and verifiable sources.

Depending on the investment route and personal circumstances, supporting evidence may include:

• Bank statements
• Property sale agreements
• Dividend statements
• Company financial documents
• Investment portfolio statements
• Other evidence confirming the legal origin of funds

The competent authorities assess the documentation as part of the program’s anti-money laundering (AML) and due diligence procedures.

Legal and Due Diligence Requirements

All applicants undergo background and compliance checks before permanent residency is granted.

Applicants are generally required to:

• Hold a clean criminal record from their country of residence and, where applicable, their country of origin.
• Successfully complete due diligence and compliance checks.
• Demonstrate that their assets and investment funds originate from legitimate sources.
• Comply with applicable anti-money laundering regulations.

Individuals whose assets are subject to European Union sanctions are not eligible for the program.

Required Documents

Although document requirements may vary depending on the applicant’s circumstances and investment route, a typical application includes:

• Valid passport
• Passport-sized photographs
• Criminal record certificate
• Medical insurance
• Proof of the qualifying investment
• Proof of payment;
• Evidence of annual income
• Supporting source-of-funds documentation
• Tax declaration where required
• Civil status documents for accompanying family members

Documents issued outside Cyprus may need to be legalised or apostilled and accompanied by certified translations where applicable.

Application Requirements

Once the qualifying investment has been completed and the necessary supporting documents have been prepared, applicants can submit their permanent residency application to the Civil Registry and Migration Department in Cyprus.

While individual circumstances may vary, applicants are generally expected to meet the following requirements throughout the application process:

• Complete a qualifying investment before submitting the application
• Provide evidence that the required investment amount has been paid in accordance with the program rules
• Submit all supporting financial, legal and identity documents
• Demonstrate that the annual income requirement has been met
• Successfully complete the program’s due diligence checks

Following approval, applicants must visit Cyprus to provide biometric data before their Permanent Residence Permit cards can be issued.

Requirements for Maintaining Cyprus Permanent Residency

Obtaining permanent residency is not the final stage of the program. Investors must continue to satisfy several conditions in order to maintain their status.

Maintain the Qualifying Investment

The qualifying investment must be retained after permanent residency has been granted. If the investment is disposed of, it must generally be replaced with another qualifying investment that fully complies with the program’s requirements.

Visit Cyprus Periodically

Permanent residents are required to visit Cyprus at least once every two years to maintain their immigration status.

Maintain the Required Income

Applicants must continue to have sufficient annual income from abroad to support themselves and any dependents included in their application.

Employment and Tax Considerations

Permanent residency allows investors and their families to reside in Cyprus, but it does not automatically grant unrestricted access to the local labour market.

Employment Restrictions

Permanent residents are generally not permitted to take up employment in Cyprus.

However, they may:

• Own shares in a Cyprus company
• Receive dividend income
• Hold investments in Cyprus
• Generate rental income from qualifying investments where permitted by law

Investors considering establishing or acquiring a business should ensure that their activities remain consistent with the program’s requirements.

Tax Residency

Obtaining permanent residency does not automatically make an individual a Cyprus tax resident.

Tax residency depends on separate rules, including the amount of time an individual spends in Cyprus and their personal tax circumstances. Investors should assess their tax position separately from their immigration status.

Conclusion

The Cyprus Permanent Residency by Investment program combines a relatively straightforward investment threshold with clearly defined financial, legal and compliance requirements. Applicants must make a qualifying investment of at least €300,000, demonstrate sufficient annual income from abroad, provide evidence of the lawful source of their funds and successfully complete due diligence checks.

In addition to meeting the initial eligibility criteria, permanent residents are required to maintain their qualifying investment, comply with the program’s ongoing conditions and visit Cyprus at least once every two years. Understanding these requirements before submitting an application can help investors prepare the necessary documentation and choose the investment route that best suits their circumstances.

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