Permanent Residency Programs
Cyprus, a Mediterranean island nation and member of the European Union, offers attractive permanent residency (PR) programs for non-EU citizens seeking to establish a base in Europe. Known for its favorable tax regime, high quality of life, and strategic location, Cyprus provides pathways to residency through real estate investment or financial means. This article explores the Cyprus Permanent Residency Program, focusing on the fast-track Regulation 6(2) and Category F options, their requirements, benefits, and considerations for non-EU citizens.
The Cyprus Permanent Residency Program is designed to attract foreign investment and talent, offering non-EU citizens the opportunity to live, study, and conduct business in Cyprus indefinitely. The program is particularly appealing due to its low investment threshold, minimal residency requirements, and potential pathway to citizenship. Two primary routes are available for non-EU citizens:
Regulation 6(2) – Fast-Track Permanent Residency: A residency-by-investment program requiring a minimum investment of €300,000 in real estate, company shares, or investment funds.
Category F – Slow-Track Permanent Residency: A more affordable option requiring real estate investment and proof of sufficient income, with longer processing times.
Both programs grant lifelong residency, provided certain conditions are met, and offer a pathway to Cypriot citizenship after 7–8 years of legal residence.
The Regulation 6(2) program, often referred to as the “Cyprus Golden Visa,” is the most popular route for non-EU citizens due to its efficiency and flexibility. Applications are typically processed within 2–4 months, making it one of the fastest residency-by-investment programs in Europe.
Investment Requirements
To qualify for the fast-track program, applicants must invest at least €300,000 (excluding VAT) in one of the following options:
Residential Real Estate: Purchase one or two new residential properties (e.g., houses or apartments) from a licensed developer with a total value of at least €300,000. Resale properties are not eligible unless purchased before May 7, 2013. At least €200,000 (excluding VAT) must be paid before applying.
Commercial Real Estate: Purchase new or resale commercial properties (e.g., offices, shops, hotels) worth at least €300,000.
Company Shares: Invest €300,000 in the share capital of a Cyprus-based company that employs at least five people.
Investment Funds: Invest €300,000 in units of Cyprus Investment Funds Association’s collective investments (e.g., AIF, AIFLNP, RAIF).
The investment must be maintained indefinitely to retain residency status. If the property is sold, the investor must reinvest in another qualifying asset of equal or greater value.
Financial Requirements
Applicants must demonstrate a secure annual income of at least €50,000, sourced from outside Cyprus (e.g., salaries, pensions, dividends, or rental income). Additional income is required for dependents:
€15,000 for a spouse.
€10,000 for each minor child.
Other Requirements
Clean Criminal Record: Provide a certificate from the country of origin and residence, renewed every three years.
Non-Employment Statement: Applicants (except company directors) must confirm they will not engage in employment in Cyprus.
Housing: Applicants must own or rent a residential property in Cyprus. If investing in non-residential assets, a separate residential property must be secured.
Visit Requirement: A visit to Cyprus is required within one year of approval for biometric data collection, and at least one visit every two years is needed to maintain residency.
Family Inclusion
The program allows the inclusion of:
Spouse.
Children under 18.
Adult children aged 18–25, if unmarried, financially dependent, and enrolled in university.
Children with disabilities, regardless of age.
As of May 2023, parents and in-laws are no longer eligible for inclusion.
The Category F program is a more affordable option for non-EU citizens who do not wish to meet the higher investment threshold of Regulation 6(2). However, it has longer processing times, often 12–18 months or more, due to application backlogs.
Investment and Financial Requirements
Real Estate Investment: Purchase real estate (residential or commercial) worth at least €100,000 (plus VAT). Unlike Regulation 6(2), resale properties are eligible.
Annual Income: Demonstrate a minimum annual income of €9,568 for the main applicant, plus €4,613 for each dependent (spouse or child). Income must be sourced from abroad and sufficient to cover living expenses without employment or business activities in Cyprus.
Housing: Provide proof of ownership or a rental agreement for a residential property in Cyprus.
Other Requirements
Clean Criminal Record: A certificate from the country of origin and residence is required.
Medical Assessment: Applicants must provide a certificate confirming they do not have certain medical conditions.
Visit Requirement: Similar to Regulation 6(2), a visit every two years is required to maintain residency.
Family Inclusion
The Category F program allows the inclusion of the spouse and minor children, with similar dependency rules as Regulation 6(2).
Both programs offer significant advantages for non-EU citizens:
Lifelong Residency: PR is granted indefinitely, with the residency card renewed every 5–10 years.
Tax Advantages: No tax on global income, dividends, or capital gains for non-domiciled residents. Cyprus has a low corporate tax rate of 12.5% and no inheritance tax.
Family Inclusion: Spouses, minor children, and dependent adult children can obtain residency.
High Quality of Life: Access to excellent healthcare, international schools, and a safe, family-friendly environment.
Pathway to Citizenship: After 7–8 years of legal residence, PR holders can apply for Cypriot citizenship, which grants EU passport benefits, including visa-free travel to over 170 countries.
Minimal Residency Requirements: Only one visit every two years is needed to maintain PR status.
Business Opportunities: Cyprus’s strategic location and low corporate tax rate make it ideal for international businesses.
1. Citizenship Pathway
While the Regulation 6(2) program was previously advertised as offering citizenship after 5 years, as of 2025, the requirement is 7–8 years of legal residence, including physical presence for at least 4 years within a 7-year period and 12 consecutive months in the final year. Applicants must also demonstrate basic Greek language proficiency (B1 level) and integration.
2. Schengen Area Limitations
Cyprus is not part of the Schengen Area, so PR does not grant visa-free travel to Schengen countries. However, PR holders may apply for a multiple-entry Schengen visa valid for up to 5 years. Cyprus has applied to join the Schengen Area, but as of August 2025, the application is still under review.
3. Investment Risks
Real estate investments carry risks, including market fluctuations. While Cyprus’s property market has shown steady growth (1–4% annually), the 2020 lockdown caused temporary stagnation. Investors should conduct due diligence on developers and properties.
4. Compliance and Documentation
Applicants must provide apostilled and translated documents (e.g., passports, police clearances, medical certificates, and proof of income). Non-compliance, such as failing to visit Cyprus every two years, can result in residency cancellation.
5. Professional Guidance
Navigating the application process can be complex. Engaging immigration lawyers or licensed agents, such as those from Harvey Law Group or Immigrant Invest, can ensure compliance and streamline the process.
Due Diligence: A compliance check verifies the applicant’s criminal record and financial background.
Investment Selection: Choose and finalize the investment (e.g., property purchase or fund investment).
Document Preparation: Collect, translate, and apostille required documents.
Application Submission: Submit the application to the Cyprus Civil Registry and Migration Department.
Biometric Data: Visit Cyprus within one year of approval for biometric data collection.
Residency Approval: Receive PR status, typically within 2–4 months for Regulation 6(2) or 12–18 months for Category F.
The Cyprus Permanent Residency Program offers non-EU citizens an accessible and efficient pathway to EU residency through real estate investment or financial means. The fast-track Regulation 6(2) program, with its €300,000 investment threshold, is ideal for investors seeking quick processing and flexibility, while the Category F program suits those with lower budgets but more time. Both programs provide lifelong residency, tax advantages, and a potential route to EU citizenship, making Cyprus an attractive destination for families, retirees, and entrepreneurs.
Non-EU citizens considering these programs should carefully evaluate their financial goals, consult with immigration experts, and ensure compliance with all requirements. With its favorable tax system, Mediterranean lifestyle, and strategic location, Cyprus remains a top choice for those seeking a secure and prosperous future in the EU.