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Everything you need to know before buying real estate is included in our Cyprus Property Pack
Cyprus offers foreign property buyers a direct pathway to permanent residency through its Golden Visa program, which requires a minimum investment of €300,000 in new real estate.
As of June 2025, this program remains one of Europe's most straightforward residency-by-investment schemes, allowing investors to include their family members and eventually qualify for citizenship through naturalization after eight years of legal residency.
If you want to go deeper, you can check our pack of documents related to the real estate market in Cyprus, based on reliable facts and data, not opinions or rumors.
Cyprus provides permanent residency to foreign property buyers who invest at least €300,000 in new residential or commercial property, with the permit valid indefinitely as long as the investment is maintained.
The process typically takes 6-9 months from property selection to receiving the residency card, and successful applicants can include their spouse and dependent children up to 25 years old.
| Requirement | Details | Additional Notes |
|---|---|---|
| Minimum Investment | €300,000 plus VAT (5-19%) | Must be new property, not resale |
| Annual Income | €50,000 main applicant | +€15,000 spouse, +€10,000 per child |
| Family Inclusion | Spouse and children up to 25 | Parents no longer automatically eligible |
| Permit Duration | Permanent | Must visit Cyprus once every 2 years |
| Processing Time | 2-6 months (fast-track) | Total timeline: 6-9 months |
| Citizenship Path | After 8 years residency | Through naturalization, not investment |
| Success Rate | Over 28,000 approved since 2014 | High approval rate with proper documentation |
What kind of residency or visa options does Cyprus offer for foreign property buyers?
Cyprus offers foreign property buyers a Golden Visa program that grants permanent residency through real estate investment.
The Cyprus Golden Visa provides immediate permanent residency status, not temporary permits that require frequent renewals. This permanent residency permit allows you to live, work, and study in Cyprus indefinitely, as long as you maintain your qualifying investment and visit the country at least once every two years.
As of June 2025, the program remains active and well-established, having approved over 28,000 Golden Visas since its launch in 2014. The permit gives you access to the Schengen Area for short-term visits, though it doesn't automatically grant EU citizenship - that requires a separate naturalization process after eight years of legal residency in Cyprus.
The Golden Visa differs from temporary residence permits in that it doesn't require annual renewals or demonstrate ongoing employment. Once granted, your residency status remains valid as long as you comply with the basic maintenance requirements.
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Is there a Golden Visa or Citizenship by Investment program in Cyprus right now?
Cyprus currently operates a Golden Visa program for permanent residency, but its Citizenship by Investment program was permanently discontinued in November 2020.
The Golden Visa program remains fully operational as of June 2025 and continues to accept new applications. This program grants permanent residency to qualifying investors and their families, with no current plans for discontinuation announced by the Cypriot government.
The former Citizenship by Investment program, which allowed direct purchase of Cypriot citizenship for investments starting at €2 million, was terminated following EU pressure and concerns about due diligence standards. The EU Commission had threatened legal action against Cyprus over this program, citing security and corruption risks.
Foreign investors can still obtain Cypriot citizenship, but only through the standard naturalization process after maintaining legal residency for eight years. This naturalization route requires physical presence in Cyprus for at least five of those eight years, along with demonstrating integration through language proficiency and knowledge of Cypriot society.
The current Golden Visa program underwent reforms in May 2023 to strengthen due diligence requirements and exclude certain family members who were previously eligible.
What's the minimum real estate investment required to qualify for residency in Cyprus?
The minimum real estate investment required for Cyprus residency is €300,000 plus VAT, which typically ranges from 5% to 19% depending on the property type and value.
This €300,000 investment must be in brand-new residential or commercial property - resale properties do not qualify for the residency program. The total cost including VAT usually ranges from €315,000 to €357,000, making the effective minimum investment significantly higher than the base amount.
For residential properties, the VAT rate is 5% for the first €200,000 and 19% for the remaining €100,000, resulting in total VAT of approximately €29,000. Commercial properties face a flat 19% VAT rate, adding €57,000 to the base investment requirement.
The investment funds must originate from outside Cyprus and be transferred through proper banking channels with full documentation of the source. You cannot use funds already present in Cyprus or obtain local financing to meet this requirement.
Property transfer fees, stamp duties, legal fees, and other associated costs are additional to the €300,000 minimum and VAT. These additional costs typically add another €15,000 to €25,000 to your total investment.
Are there any other investment routes, like business or government bonds, that can also lead to residency?
Cyprus offers several alternative investment routes beyond real estate that qualify for the Golden Visa program, all requiring a minimum investment of €300,000.
| Investment Type | Minimum Amount | Key Requirements |
|---|---|---|
| Cyprus Company Shares | €300,000 | Company must employ at least 5 Cypriot/EU citizens |
| Collective Investment Funds | €300,000 | Must be approved Cypriot AIF, AIFLNP, or RAIF funds |
| Real Estate (New Property) | €300,000 | Brand-new residential or commercial property only |
| Combination Investment | €300,000 total | Mix of above options totaling minimum amount |
| Government Bonds | Not Available | No longer qualifying option since 2020 |
The business investment route requires establishing or purchasing shares in a Cyprus-based company that employs at least five Cypriot or EU citizens. This employment requirement must be maintained throughout your residency period, making it more complex than real estate investment.
Collective investment funds must be regulated by the Cyprus Securities and Exchange Commission and include Alternative Investment Funds (AIF), Alternative Investment Funds of Limited Nature and Purpose (AIFLNP), or Registered Alternative Investment Funds (RAIF).
Government bonds, which were previously available as a qualifying investment, were eliminated when Cyprus discontinued its Citizenship by Investment program in 2020. The bond investment option has not been reinstated for the Golden Visa program.
You can combine different investment types to reach the €300,000 minimum, such as investing €150,000 in real estate and €150,000 in company shares, provided all individual components meet their specific requirements.
What are the exact steps to apply for residency through real estate investment?
The Cyprus residency application process involves ten distinct steps, from engaging legal representation to collecting your residence card.
- Engage an Independent Lawyer: Hire a Cyprus-licensed lawyer for due diligence and legal compliance throughout the process
- Property Selection and Reservation: Choose qualifying new property and pay a reservation deposit (typically 10-20% of purchase price)
- Due Diligence Review: Your lawyer verifies clear title, construction permits, and ensures the property is free of encumbrances or legal issues
- Execute Sale Agreement: Sign the purchase contract, have it stamped by authorities, and lodge it with the District Land Registry Office
- Transfer Investment Funds: Wire at least €300,000 plus VAT from a bank account outside Cyprus with proper source documentation
- Apply for Acquisition Permission: Non-EU buyers must obtain approval from District Officers (formerly Council of Ministers), taking 2-3 months
- Submit Residency Application: File application with Civil Registry and Migration Department, including all required documentation
- Application Processing: Government reviews application over 2-6 months (fast-track processing available for additional fees)
- Biometrics Appointment: Upon approval, visit Cyprus within 40 days to submit biometrics and photos
- Residence Card Collection: Collect your permanent residence card from immigration authorities in Cyprus
Each step has specific documentation requirements and timing constraints. Missing deadlines or incomplete documentation can significantly delay the process or result in application rejection.
The total timeline typically ranges from 6-9 months from initial property selection to receiving your residence card, assuming no complications arise during processing.
Can I include my family members—like my spouse and kids—in the residency application?
Yes, you can include your spouse and dependent children up to 25 years old in your Cyprus residency application under a single investment.
The main applicant's spouse automatically qualifies for inclusion, but you must demonstrate an additional annual income of €15,000 specifically for spousal inclusion. Each dependent child requires an additional €10,000 in annual income demonstration, regardless of their age (up to the 25-year limit).
Dependent children can be included if they are unmarried, financially dependent on the main applicant, and under 25 years old at the time of application. Children over 18 must provide evidence of full-time education or financial dependency to qualify.
Parents and parents-in-law are no longer automatically eligible for inclusion under the main applicant's permit as of the May 2023 program reforms. They must now apply for their own separate Golden Visa through independent qualifying investments.
All family members included in the application receive identical residence permits with the same validity period and renewal requirements. They must also comply with the visit requirement of entering Cyprus at least once every two years to maintain their status.
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How long is the residency permit valid for, and is it renewable?
The Cyprus Golden Visa grants permanent residency with unlimited duration, not a temporary permit requiring regular renewals.
Unlike many other European residency programs that issue permits for 1-5 years, Cyprus provides immediate permanent resident status that remains valid indefinitely. You don't need to renew your permit annually or prove ongoing eligibility beyond maintaining your qualifying investment.
The permit remains valid as long as you meet two key maintenance requirements: maintaining your €300,000 qualifying investment and visiting Cyprus at least once every two years. Failure to meet either requirement can result in permit cancellation.
You must provide periodic verification of your continued investment and compliance with income requirements. The government may request updated documentation every few years to confirm you still meet the program's financial criteria.
If you sell your qualifying property or liquidate your investment, your residency status will be revoked. You also cannot transfer your investment to a family member to maintain eligibility - the investment must remain under your personal ownership.
Does residency through investment eventually lead to permanent residency or citizenship, and if so, how?
The Cyprus Golden Visa already grants permanent residency immediately upon approval, with citizenship available through naturalization after eight years of legal residency.
Since the Golden Visa provides permanent residency from day one, you don't need to upgrade to permanent status - you already have it. The next step would be obtaining Cypriot citizenship through the standard naturalization process available to all legal residents.
Citizenship through naturalization requires eight years of continuous legal residency in Cyprus, with at least five years of physical presence during that period. This means you must actually live in Cyprus for the majority of those eight years, not just maintain a residence permit.
The naturalization process also requires demonstrating integration into Cypriot society through basic Greek language proficiency, knowledge of Cyprus history and culture, and maintaining a clean criminal record throughout the residency period.
As of June 2025, there is no direct investment path to citizenship - the Citizenship by Investment program was permanently discontinued in 2020. All foreign investors must follow the standard eight-year naturalization route regardless of their investment amount.
Cypriot citizenship, once obtained, provides full EU citizenship rights including freedom of movement, work, and residence throughout all 27 EU member states.
What are the legal, financial, and tax requirements or conditions I need to meet before and after purchasing the property?
Cyprus residency by investment requires meeting specific legal, financial, and ongoing compliance requirements both before and after property purchase.
| Requirement Category | Before Purchase | After Purchase |
|---|---|---|
| Financial Documentation | Proof of €300,000+ from foreign sources, clean criminal record, health certificate | Annual income verification (€50,000+), investment maintenance proof |
| Legal Compliance | Due diligence checks, lawyer engagement, source of funds verification | Property ownership maintenance, legal status updates every 3 years |
| Tax Obligations | VAT payment (5-19%), property transfer fees, stamp duties | Annual property taxes, immovable property tax, capital gains tax if sold |
| Physical Presence | No requirement during application | Visit Cyprus at least once every 2 years |
| Income Requirements | Demonstrate €50,000 annual income from abroad | Maintain and verify annual income requirements |
Before purchasing, you must provide comprehensive documentation proving your investment funds originated outside Cyprus through legitimate sources. This includes bank statements, employment records, business ownership documents, or other wealth sources covering the past three years.
Criminal background checks from all countries where you've resided for more than six months in the past decade are required. These must be apostilled and translated into Greek or English. You'll also need a health certificate confirming you're free from contagious diseases.
After purchase, you must maintain the qualifying investment throughout your residency period - selling the property without replacement investment results in permit cancellation. You're required to update your criminal record documentation every three years and provide annual proof of continued income eligibility.
Cyprus taxes residents on worldwide income, but the country offers various tax benefits including no inheritance tax, low corporate rates, and extensive double taxation treaties. Property taxes include annual immovable property tax and capital gains tax if you eventually sell the property.
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What are the steps involved in buying property in Cyprus as a foreigner?
Foreign property buyers in Cyprus must follow a specific legal process that includes obtaining government permission and completing proper title transfers.
Non-EU citizens can purchase one residential property (apartment or house) or one plot of land up to 4,014 square meters without requiring special permits. Commercial property purchases are possible but subject to additional restrictions and approval processes depending on the property type and location.
The property buying process requires engaging a qualified Cyprus lawyer before signing any agreements. Your lawyer will conduct comprehensive due diligence including title searches, planning permit verification, and ensuring the property is free from encumbrances or legal disputes.
After selecting your property and negotiating terms, you'll sign a sale agreement that must be stamped by authorities and filed with the District Land Registry Office. This legally binding contract protects your interests and establishes your purchase rights.
Non-EU buyers must obtain acquisition permission from District Officers (previously the Council of Ministers) after signing the sale contract. This approval process typically takes 2-3 months and requires submission of personal documentation, proof of funds, and property details.
Payment of the full purchase price, VAT, and associated fees occurs after receiving acquisition permission. The final step involves transferring the property title deed at the Land Registry Office, officially making you the legal owner.
What's the full application process like—from property purchase to getting the residency card?
The complete process from property purchase to receiving your Cyprus residency card spans approximately 6-9 months and involves parallel tracks for property acquisition and residency application.
Month 1-3: Property selection, due diligence, contract signing, and fund transfer occur simultaneously with gathering residency application documents. Your lawyer coordinates both processes to avoid delays, while you compile criminal records, health certificates, and financial documentation from your home country.
Month 2-4: Non-EU buyers apply for and receive acquisition permission from District Officers while preparing their residency application. This permission is mandatory before you can legally own property in Cyprus and must be obtained before submitting your residency application.
Month 3-6: Submit your complete residency application to the Civil Registry and Migration Department with all supporting documents. The government offers fast-track processing for additional fees, potentially reducing this phase to 2-3 months instead of the standard 4-6 months.
Month 6-7: Upon application approval, you receive notification to visit Cyprus for biometrics collection. You must arrive within 40 days of approval notification to complete this step, which includes fingerprinting, photographs, and final document verification.
Month 6-9: Collect your permanent residence card from immigration authorities during your biometrics visit. The card production typically takes 2-4 weeks after biometrics submission, and you can either collect it in person or authorize someone to collect it on your behalf.
Fast-track processing can reduce the total timeline to 4-6 months for an additional fee of approximately €2,000-€3,000, primarily by expediting the government review phase of your residency application.
Are there any real stories, testimonials, or case studies from people who've tried this route—both successful and unsuccessful?
Cyprus has approved over 28,000 Golden Visas since the program's 2014 launch, with the majority of successful applicants coming from China, Russia, and other non-EU countries seeking European residency.
Successful applicants frequently highlight the program's speed compared to other European residency options, with some receiving approval in as little as two months using fast-track processing. Many investors appreciate the family inclusion benefits, allowing them to secure European residency for their entire family through a single property investment.
Real estate professionals report that most successful applicants invest in new developments in Limassol, Paphos, and Nicosia, particularly luxury apartments and villas priced between €400,000-€800,000. These investors often exceed the minimum investment requirement to secure higher-quality properties in prime locations.
Common challenges include paperwork errors, inadequate source of funds documentation, and misunderstanding the new property requirement. Some applicants initially attempted to use resale properties only to discover they don't qualify, requiring them to restart their property search and extending their timeline by several months.
The most frequently cited mistakes include using local lawyers without Golden Visa expertise, failing to maintain the required annual income levels, and not understanding the physical presence requirements. Several permit cancellations have occurred when investors sold their qualifying properties without realizing this would terminate their residency status.
Recent due diligence enhancements have resulted in increased scrutiny of applicant backgrounds and fund sources. While this hasn't significantly impacted approval rates, it has extended processing times for applicants from certain countries or those with complex financial histories.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Cyprus offers one of Europe's most straightforward paths to permanent residency through real estate investment, requiring just €300,000 in new property plus proper documentation and annual income verification.
The program's combination of immediate permanent residency, family inclusion, and eventual citizenship pathway makes it attractive for investors seeking European residence, though proper legal guidance is essential for navigating the application process successfully.
Sources
- GK Law Firm - Cyprus Golden Visa Guide
- Global Citizen Solutions - Cyprus Citizenship Program
- IMIN Cyprus - Citizenship Options
- Harvey Law Corporation - Cyprus Permanent Residency
- Mirabello Consultancy - Cyprus Residency by Investment
- IMIN Cyprus - Residency by Investment Guide
- D7 Visa - Cyprus Golden Visa
- GK Law Firm - Cyprus Residency by Investment
- AGP Law - Buying Property in Cyprus
- Philippou Law - Buying Property in Cyprus Guide