Permanent Residency (PR) Permit for non-EU citizens

Previously, obtaining a Cyprus passport (citizenship) through investment was possible, but this option was discontinued due to criticism and pressure from other EU countries. However, even non-EU citizens, can still obtain a Cyprus Permanent Residency (PR) permit. Let’s take a look at the benefits of acquiring a Cyprus Permanent Residency.

Benefits of Cyprus Permanent Residency (PR)

1.Lifetime Validity   

The Cyprus Permanent Residency is valid for life and does not require renewal.

2.Eligibility for the Entire Family   

Your spouse, children under 18, and dependent family members (such as adult children) who meet the requirements can also obtain permanent residency.

3.Path to Citizenship   

After legally residing in Cyprus for 8 years, permanent residency holders are eligible to apply for Cyprus Citizenship (M127 scheme).

4.Fast Track Process   

Through the fast-track procedure, the PR card can be issued within two months.

5.Tax Advantages

PR holders can become Cyprus tax residents and enjoy the following tax benefits:    

  • Exemption from taxes on worldwide dividend and passive interest income.   
  • Exemption from taxes on profits from the sale of securities. 

6.Free Healthcare Services   

PR holders are entitled to free or low-cost healthcare services through Cyprus' General Healthcare System (GHS). 

How to Obtain Cyprus Permanent Residency (PR)

There are two main routes for obtaining Cyprus Permanent Residency

1.Through Real Estate Residential Property   

You must purchase a new residential property for a minimum of €300,000 + VAT. VAT is typically 19%, but for the first property purchased for personal use, a reduced VAT rate of 5% applies. 

Commercial Property   
Investors must purchase office buildings, hotels, shops, or other commercial properties worth at least €300,000. Resale properties are also eligible.   

  • The investor must register the sales agreement with the Land Registry and pay the €300,000 (plus VAT).    
  • Payments must be made to the seller’s bank account in Cyprus, and funds must be transferred from abroad.    
  • The delivery date of the property does not matter, so properties under construction are also eligible.    Properties can be purchased in the name of a company, with the investor or their spouse as the ultimate beneficial owner. 

In summary, purchasing a property (residential or commercial) for over €300,000 can grant you Cyprus Permanent Residency

2.Through Cyprus Company

Another affordable method is to establish a Cyprus company and apply for a residency permit through the company. In this case, you must be the company’s director, and initially, you will receive a residency permit, not permanent residency, which requires renewal. After residing in Cyprus for 8 years, you can apply for citizenship.

Our Fees

For Real Estate Investment

- 5% of the purchase price of the property (with €6,000 due at the time of contract signing, and the balance due when the Permanent Residency is granted)

Services Included 

  • Search and introduction of properties eligible for permanent residency/arranging viewings. 
  • Support with the real estate purchase process.  
  • Support with the permanent residency application.  
  • Assistance with transferring and moving funds.  - On-site assistance (for property viewings, real estate agencies, law offices, government offices, etc.).
For Cyprus Company Formation:    €15,000

Services Included 

  • Cyprus company formation package.  
  • Support with the permanent residency application (for the company director only). 
  • On-site assistance (for law offices, government offices, etc.). 

For more information, please contact us through our inquiry form.
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