The Cyprus Permanent Residency (PR) program offers non-EU individuals a permanent visa for entering, staying and living for a lifetime in Cyprus within 3 months, with a minimum real estate investment of €300,000 + VAT (if any) . The process is fast and easy and it covers all dependant children up to 25 years old, parents and spouse of the applicant.
The successful applicants must:
- Purchase a property of a minimum value of €300,000 plus vat (if vat is applicable). Can apply only when €200,000 has been paid. Funds must be transferred from abroad from legal sources.
- Deposit €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.