Permanent Residency in Cyprus Through Property Investment

Fast Track Permanent Residency – Category 6.2

The Fast Track PR procedure is designed for investors seeking a quicker and more secure route to permanent residency in Cyprus through substantial investment.

Investment Requirements

To qualify, the applicant must:

• Purchase a new, first-sale residential property (off-plan or newly built) from a developing company
• Minimum property value: €300,000 + VAT
• The PR application can be submitted only after payment of the full €300,000 + VAT
• The investment cannot be financed through a loan from a Cypriot bank

The property must be maintained for life. If the investor wishes to sell in the future, they must:

• Purchase another property of equal value
• Obtain approval from the Civil Registry and Migration Department

Source of Funds & Income Criteria

• Investment funds must originate from the applicant’s or spouse’s bank account abroad
• The spouse’s funds may be used only if the spouse is included as a dependent
• The main applicant must demonstrate secured annual income of at least €50,000
  • +€15,000 for the spouse
  • +€10,000 for each minor child

The secured annual income can only be proven through:

• Official tax return declarations from the country of tax residence, or
• Certificates issued by an independent certified accountant (license required)

Eligible Dependents

A PR application may include:

• The applicant’s spouse
• Minor children

Children aged 18 to 25 may also be included provided that:

• They are full-time university students outside Cyprus
• They are financially dependent on the applicant

Once approved, the permit remains valid even if the child:

• Exceeds the age of 25
• Marries
• Stops studying or becomes financially independent

However, the child’s spouse and underage children cannot be included as dependents.

Property Size & Accommodation Requirements

The purchased property must have a sufficient number of bedrooms to accommodate the family.
If not, additional accommodation must be declared (ownership or rental agreement with proof of payment).

Processing Time & Approval

• Average examination period: approximately 10 months
• Once approved, the applicant and dependents must visit Cyprus within one year to provide biometric data and receive their PR cards

Rights & Obligations After Approval

• The applicant and spouse cannot work in Cyprus
• They may register a company, acting as shareholders and unpaid directors
• Annual obligations include:
  • Proof that the investment is maintained
  • Valid health insurance (if not covered by GESY)
• Every three years, updated certified clean criminal records must be submitted

PR status may be revoked if:

• The family acquires permanent residence abroad, or
• They are absent from Cyprus for more than two consecutive years

Important Note on Stay During Application

Submitting a Fast Track PR application does not grant the right to stay in Cyprus during the examination period.
If the applicant wishes to remain in Cyprus, a temporary residence permit (Visitor / Pink Slip) must be submitted simultaneously.

Alternative Investment Options Under Category 6.2

Instead of residential property, applicants may invest €300,000 in:

1. Other real estate (offices, shops, hotels, or mixed-use developments, including resale properties)
2. Share capital of a Cyprus-based company
   • Must be operating in Cyprus
   • Employ at least five (5) employees
3. Units of Cyprus Investment Organizations (AIF, AIFLNP, RAIF)

In these cases, proof of accommodation in Cyprus is still required.

Contact us today to explore the best investment opportunities and residency solutions tailored to your needs.