How to Get Permanent Residence in Cyprus by Buying Property

Over the past two to three years, Cyprus has increasingly attracted people looking for a way to secure long-term residency through real estate investment. This trend has emerged against the backdrop of broad changes in European migration policies. For example, Portugal removed real estate from its Golden Visa options, while Ireland and Spain closed their investment migration programs entirely.

Cyprus’s permanent residency by investment program remains in force. Due to specific legal features, it has one truly distinctive advantage: obtaining permanent residency through the purchase of property often proves simpler than almost any other available route.

In this article, we examine why this is the case, how to obtain Cyprus permanent residency through investment or real estate, and under what conditions.

What Cyprus Permanent Residency Represents

Cyprus permanent residency allows an individual to reside in the country on a long-term basis. Unlike temporary residence permits, it does not require renewal. As long as the holder continues to meet the program’s conditions, the residence card is formally considered indefinite.

Advantages of permanent residence in Cyprus:

• Family inclusion. An application may include a spouse and children, although age limits apply to children.

• Freedom of movement. After obtaining permanent residency in Cyprus, the holder can apply for a Schengen visa to other EU countries under a simplified procedure, since Cyprus itself is not part of the Schengen Area.

• Tax flexibility. Permanent residency does not automatically make a person a tax resident. If the individual spends fewer than 183 days per year in Cyprus, there is no obligation to pay tax on foreign-sourced income.

To maintain permanent residency, the holder must not be absent from Cyprus for more than two consecutive years. In practice, one may stay outside the country for up to 23 months and then return for a few days or weeks. However, given potential issues with calculating periods of absence, it is advisable to visit Cyprus at least once per year.

In addition, when permanent residency is obtained through investment in apartments in Cyprus, the investment must be maintained. It is not permitted to purchase a property, receive residency, and then sell the asset. Once the property is sold, the residency status is revoked.

How to Obtain Permanent Residency in Cyprus

Under current Cypriot legislation, permanent residency can be obtained in two ways: through long-term residence in the country on temporary grounds, or through investment.

Permanent Residency Through Long-Term Legal Residence in Cyprus

In Cyprus, permanent status is granted in the form of EU long-term resident status (Long-Term Resident, MLT3). Eligibility for this status arises only as a result of prolonged residence in the country on the basis of a temporary residence permit.

The right to apply arises only if all of the following Cyprus permanent residency requirements are met simultaneously:

• at least five years of legal residence in Cyprus under a valid residence permit;
• residence must be continuous;
• the applicant must maintain a single lawful status throughout the entire period;
• participation in programs that are not considered lawful residence for this purpose is not allowed, such as student exchange or internship programs, seasonal employment, or temporary protection.

Only periods of physical presence in Cyprus are counted toward the qualifying residence period. Absences from the country must not exceed six consecutive months or a total of ten months over the five-year period. Otherwise, the accumulated residence period may be reset and must be completed again from the beginning.

The specific type of temporary residence has limited impact on the permanent residency process itself. In practice, however, residence based on employment permits or business activities is the easiest to document. Residence under student permits is counted only partially or subject to additional conditions.

When reviewing an application, migration authorities assess not past income, but the applicant’s current and sustainable ability to support themselves. The following is required:

• proof of stable and regular income sufficient to live without reliance on social assistance;
• valid health insurance covering basic risks;
• absence of outstanding debts and serious offenses.

There are no formally defined minimum income thresholds under the MLT3 rules. In practice, however, the applicant must demonstrate the ability to independently cover housing costs, utilities, medical care, and everyday living expenses.

The application must be submitted after completion of the five-year residence period. It is then sent for review. The standard processing time ranges from six to twelve months. During this period, the applicant retains temporary status, and additional documents may be requested if necessary.

Unlike permanent residency obtained through the buying apartment in Cyprus, this route carries a relatively high risk of refusal. The most common issues include:

• gaps in legal status, such as expired residence permits, late renewals, or even brief periods without valid status;
• prolonged absences from the country, especially when poorly documented or inconsistent with migration records;
• weak financial position, including unstable income, frequent changes in income sources, or insufficient proof of financial independence;
• past administrative violations, where even minor offenses may lead to refusal if they occur repeatedly.

For this reason, even after five years of residence, there is no guarantee that an application will be approved on the first attempt.

Cyprus Permanent Residency Through Investment

It should be noted at the outset that this route is not limited exclusively to the purchase of real estate. In practice, however, more than 80–85% of applications are submitted through the acquisition of residential property. For this reason, this pathway is considered primarily from that perspective.

The core requirement of Cyprus residency by investment is an investment in the country’s economy of at least €300,000. For residential property, a strict rule applies: the property must be acquired on the primary market, meaning it must be purchased directly from a developer. Secondary market property does not qualify for this permanent residency category, even if its value exceeds the required threshold.

For permanent residency purposes, the price recorded in the sale and purchase agreement is taken into account, rather than the amount actually paid at the time of application. This allows an application to be submitted before the full purchase price has been paid.

The €300,000 investment threshold is calculated excluding VAT, which is normally charged at 19%. If the property is intended to be the applicant’s primary residence, a reduced VAT rate of 5% may apply. This is a tax matter and does not affect the issuance of permanent residency itself.

Investment in residential property is not, by itself, sufficient to obtain a Cyprus investment visa. The applicant must also demonstrate that they and their family can reside in Cyprus without access to the local labor market or the social welfare system. The minimum required annual income to is set at:

• €50,000 for the main applicant;
• €15,000 for a spouse;
• €10,000 for each child.

In cases involving the purchase of residential property in Cyprus, it is essential that the applicant is not financially dependent on the Cypriot economy. Acceptable income sources include salaries from foreign employers, dividends, business income, interest, and rental income generated outside Cyprus. One-off payments or unverified income sources are not considered sufficient.

Special attention is paid to the origin of the funds used for the purchase. Authorities assess not only the legality of the capital but also the logical connection between the applicant’s income and the size of the investment. This stage is where delays most frequently occur.

Parents cannot be included in an investment permanent residency application, even if they are financially dependent on the applicant. Children aged 18 to 25 must submit a separate application only if they are unmarried and remain financially dependent on the parent.

Adult children with their own income may be included in the application only if the investment amount is doubled: €600,000 for one adult child, €900,000 for two, and so on. In other cases, a temporary residence permit under family reunification rules must be obtained.

Disadvantages of residency by investment in Cyprus:

• No right to employment in Cyprus. Investment-based permanent residency does not grant the right to work in the country under any circumstances.
• Status depends on maintaining the investment. If the property is sold, the residency status is revoked.
• Limited mobility within the EU. Permanent residency solves the issue of residence only in Cyprus.
• No guaranteed path to citizenship. Permanent residency does not create a separate route to Cypriot citizenship by investment. The fact of purchasing property does not provide advantages in the naturalization process, and an applicant may be refused under the same criteria as holders of ordinary permanent residency.

An application for investment-based permanent residency is submitted to the Cyprus Migration Department either in person or through an authorized representative. Cyprus permanent residency document requirements:

• a sale and purchase agreement issued in the name of the applicant and or the spouse;
• confirmation that the property value meets the €300,000 plus VAT requirement;
• evidence that the investment funds were transferred from abroad and are not the result of domestic borrowing in Cyprus;
• a police clearance certificate from the country of origin and the country of residence, if different;
• health insurance for the applicant and dependent family members.

All supporting documents must be officially translated and properly certified. This applies to financial documents, police clearance certificates, and family records.

The right of residence under this permanent residency category is indefinite. However, the physical residence card issued to the main applicant and adult dependents is valid for ten years from the date of issue and must be replaced upon expiration.

Property Prices in Cyprus

By 2025, the residential real estate market in Cyprus has effectively developed into a two-track structure. One segment is focused on domestic demand, while the other is oriented toward foreign buyers.

It is the second segment that largely sets price benchmarks in new Cyprus developments, as the share of foreign buyers there consistently exceeds 40%. Demand is concentrated in properties priced between €300,000 and €450,000, since this range aligns directly with the minimum threshold for investment-based permanent residency.

Average apartment prices in Cyprus:

The fixed investment threshold automatically narrows the selection to two-bedroom units or to larger apartments in mid-range residential projects. In practical terms, this leads to several clear market patterns:

• Flats in Larnaca and resort locations along the eastern coast are most frequently purchased for permanent residency purposes.
• Paphos and Nicosia, despite their relatively low prices per square meter, are chosen less often, as a large share of available properties in these cities does not reach the €300,000 threshold.
• In the premium segment Limassol dominates. Here, the minimum investment requirement often coincides with the lower boundary of apartment prices in Limassol.

Purchasing an Apartment in Cyprus

For investment-based permanent residency, the property must be acquired in a form acceptable to the migration authorities. The process begins once a property is selected and a reservation agreement is signed with the developer, followed by the payment of a reservation deposit, typically €5000–10,000.

At this stage, it is necessary to verify:

• that the property is part of a primary sale;
• that the seller is the developer and not an intermediary;
• that the project has a valid building permit.

Before signing the main contract, a lawyer conducts due diligence to confirm:

• the developer’s legal title to the land plot;
• the absence of encumbrances, arrests, or mortgages;
• compliance of the project with issued permits;
• the project structure, especially in large-scale residential developments.

For permanent residency purposes, this is critical, as only legally clean investments are accepted. Transactions with issues related to permits or ownership rights may proceed from a civil law perspective, but they do not qualify as a basis for obtaining residence status.

The main sale and purchase agreement is signed by both parties and then submitted by a notary to the Cyprus Department of Lands and Surveys for registration.

Once registration is completed, payments may be made under the following conditions:

• funds must be transferred from abroad;
• the transfer must come from the applicant’s account, or from the spouse’s account;
• payment to the seller must be made to the developer’s account held with a Cypriot financial institution.

After at least €300,000 has been paid under the contract, the applicant may submit a permanent residency application. It is not necessary to wait for completion or delivery of the property. A registered contract and confirmed payments are sufficient.

The Path to Cypriot Citizenship Through Investment

There was a pathway to get a Cyprus passport through investment but it was closed in 2020. In the years that followed, the state significantly tightened naturalization requirements, and investments ceased to provide any advantage in the review of citizenship applications.

Citizenship is now possible exclusively through the standard naturalization procedure in Cyprus. To qualify, an applicant must have resided in the country for at least seven years within the last ten-year period. During the final twelve months before applying, it is strongly advisable not to leave the country at all.

After meeting the residence requirement, the applicant must submit an application and pass an integration assessment. This includes:

• passing a Greek language exam at B1–B2 level;
• a test on the fundamentals of the country’s social and political system;
• an interview with the migration authorities.