Permanent residence permit (PRP)

Non-EU citizens who purchase property in Cyprus obtain a Permanent Residence Permit within 2 months. Criteria:

• Purchase a property of a minimum value of €300.000 plus VAT and provide proof of payment for at least €200.000 plus VAT with funds transferred from abroad.
• Deposit of €30.000, with funds transferred from abroad, pledged for at least 3 years in a bank in Cyprus.
• Depended children up to the age of 25 who are students may obtain PRP for life.
• Parents of main applicant and parents of his/her spouse may also get PRP.
• Proof of a minimum annual income of €30.000 increased by :
• €5.000 and depended child
• €8,000 for each applicant and spouse parent
• Submit a clean criminal record certificate issued by the Authorities of their country of origin.
• 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. Provided that the criteria described above are fulfilled, the permit is granted within 2 months from the date of submission of the application.