Permanent Residency (PR) Explained
Fast-Track your way to Permanent Residency! The Ministry of Interior announced that Non-EU Citizens who purchase property in Cyprus can obtain a Permanent Permit within 3 monthsThe applicants must:
- Purchase a property of a minimum value of €300,000 plus Vat. Can apply only when €200,000 has been paid. Funds must be transferred from abroad.
- Deposit of €30,000 pledged for at least 3 years in a bank in Cyprus.
- Prove a minimum annual income of €30,000 per applicant. The amount increases by €5,000 for each dependant.
- Dependant children up to the of 25 who are students may obtain Permanent Residence for life.
- Submit a statement confirming they will not be employed in Cyprus. The applicant is allowed to be a shareholder of a Cyprus company and earn dividends.
- Visit Cyprus at least once every two years.