Permanent residency in Cyprus by buying property

The short answer

• Invest €300,000 plus VAT in new residential property bought from a developer, paid in full before you apply.
• Show €50,000 a year of secure income from abroad, plus €15,000 for a spouse and €10,000 for each child.
• The permit covers your spouse, children under 18 and unmarried dependent students up to 25.
• To keep it: hold the property, keep the income, and visit Cyprus at least once every two years.

What Regulation 6(2) gives you

Regulation 6(2) of the Aliens and Immigration Regulations allows an immigration permit, a permanent residence permit, to be granted to non-EU investors through a faster procedure than the ordinary routes. The criteria in force today are the fourth revision, of 2 May 2023, with a later clarification that eased the yearly checks; no new criteria had been adopted by October 2026.

• You may live in Cyprus for as long as you hold the permit, with no minimum stay beyond the visit every two years.
• You and your spouse sign a declaration that you will not work in Cyprus. Income from abroad, rent, dividends and pensions are fine.
• It is not tax residence. Whether you pay tax in Cyprus depends on the days you spend here: see below.
• EU, EEA and Swiss citizens do not need it: they can already live in Cyprus under EU free movement.

The €300,000 investment

The minimum is €300,000 excluding VAT, in one of four categories. Most buyers use the first.

• Since May 2023 the full €300,000 must be paid before you apply, with receipts attached, even if the home will be delivered later. Previously €200,000 was enough at filing.
• The money must come from abroad, from your account, your spouse's, or a company you own outright.
• The sale contract must be deposited at the Land Registry. See title deeds in Cyprus for what that means.
• The purchase can be split across two units. Lawyers read the rules on a second residential unit differently, so confirm the structure with yours before you sign.
• The €30,000 fixed deposit that the old scheme required was dropped in 2021 and is no longer part of the criteria.

The income test

You show a secure annual income from abroad: salary, pension, dividends, interest or rent. It is proved with the tax return from the country where you are tax resident, and your spouse's income can count towards it. For category A it must come from outside Cyprus; for categories B, C and D it may be partly or fully from Cyprus if it is taxed here.

Who the permit covers

• Your spouse (or civil partner).
• Children under 18.
• Children aged 18 to 25 who are unmarried, studying full time and financially dependent on you. They apply separately and each adds €10,000 to the income test.

Parents and parents-in-law were removed from the scheme in May 2023 and now need their own permit.

Applying

Applications go to the Migration Department and are decided by the Deputy Minister of Migration and International Protection. Your lawyer usually files them. Expect to provide:

• The sale contract, its Land Registry deposit and receipts for €300,000, with proof the money came from abroad.
• Proof of income: tax returns and bank statements from your country of tax residence.
• A clean criminal record certificate from your country of residence.
• Health insurance covering the family in Cyprus, private or through the national health system (GESY).
• Passports, marriage and birth certificates, translated and certified where needed.

The Migration Department estimates about two months from a complete application; some firms report longer. The fee is €500 per application, plus €70 for each person's alien registration certificate. Buyers from outside the EU also need the routine permit to acquire property: your lawyer applies for both.

Keeping the permit

• Keep the investment. If you sell, replace it at once with a qualifying investment of at least the same value, or the permit can be cancelled.
• Send proof each year that you still hold the investment, and of health insurance if you are outside the national health system (GESY). Proof of income is no longer required every year.
• Send clean criminal records every three years for you and the adult family members, from your country of origin and of residence. If the conditions fail, the whole family's permits can be cancelled.
• Visit Cyprus at least once every two years. The first visit, in the first year, is also when fingerprints are taken for the residence card.
• Do not take up employment in Cyprus. Holders investing through a Cyprus company (category C) may be its shareholders and directors.

Citizenship in 2026

The citizenship-by-investment programme closed in November 2020. A property purchase no longer leads to a passport by itself.

• Under the naturalisation law in force since December 2023 (Law 149(I)/2023), the standard route needs 8 years of legal residence in the last 11, the final 12 months continuous, plus Greek at B1 and a test on Cyprus.
• Highly skilled employees of approved companies can apply after 4 years (Greek B1) or 5 years (Greek A2).
• Residence means actually living in Cyprus. A permanent residence permit used only for the visit every two years does not build up those years.

Residence permit vs tax residence

Tax follows days, not permits. You are tax resident in Cyprus if you spend more than 183 days here in a year, or under the 60-day rule: at least 60 days in Cyprus, no more than 183 days in any other single country, a business, job or directorship in Cyprus, and a home here, owned or rented. New tax residents who were not domiciled in Cyprus are generally exempt from the special defence contribution on dividends and interest for 17 years. Take tax advice before you move.

Oniro homes and residency

Apartments at Aegea Views in Agios Athanasios, Limassol, start from €335,000 and are sold new by the developer, so a single apartment can meet the €300,000 category A threshold. Your lawyer confirms the full file before you apply. If you will live in the home as your main residence, the 5% VAT rate may also apply.