ABOUT CYPRUSCyprus Permanent Residency Permit (PRP)

The Ministry of Interior of the Republic of Cyprus released an efficient procedure for granting an immigration permit to third country nationals that intend to take up permanent residency in Cyprus

Investment Options
Investment in a new immovable property.
Investment Amount
Purchase of new immovable property with a minimum price of €300.000 + VAT.

Application Criteria

Application CriteriaProof

Proof of payment of at least €200.000 + VAT towards the purchase price for the house.

Application CriteriaCapital

Minimum capital of €30.000 from abroad deposited in an account in a Cyprus Bank and pledged for at least 3 years.

Application CriteriaCriminal Record

Applicants must hold a clean criminal record from their country of origin, and/or the Country where they permanently reside.

Application CriteriaTitle Deed

The application form must be accompanied by a title deed or a contract of sale that has already been submitted to the Department of Lands and Surveys, for the acquisition of a house, apartment or any other building situated in Cyprus, of a minimum price of €300.000 + VAT. The transferred amount for the purchase must be shown to have come from abroad.

Application CriteriaAnnual Income

Evidence of a secured annual income of at least €30.000 deriving from abroad. Additionally, income of €5.000 for every additional child and €8.000 for each dependant parent should be proven.

Who is Eligible?


Any investor who is 18 years old and above.


The spouse and children of the applicant.


Parents of the applicant/holder of the immigration permit and the parents of his/her spouse.


The applicant must visit Cyprus once every 2 years along with his/her dependants who enjoy the residency to maintain this right.

EligibilityProcessing Time

All applications for Permanent Residency on the basis of purchase of a new home at the price of €300.000 + VAT are approved within a period of 3 months under fast track procedure. Once the application is approved, a Permanent Residency permit is provided to the applicant and his/her family members.

Main Advantages of Permanent Residency

Investment CriteriaPermanent Residence

Immigration Permit gives you, a Non-EU national, the right to permanently reside in Cyprus.


Dependants of investor can be enrolled in high-quality private schools, offering studies in the English Language.


Family members can also obtain it (spouse, children, and parents).

Investment CriteriaImmigration

Exempted from time-consuming immigration formalities that apply to non-EU nationals entering Cyprus (i.e. Visitor’s Visa).

Investment CriteriaRetain

The investor is obliged to retain the investment for at least three years following the acquisition of the Cyprus citizenship, with the exception of the residential property of a minimum value of €500.000 + VAT, that should not be disposed of at any point in time, or if disposed, the investor should substitute with another property of equal or higher purchase price.

Investment CriteriaOnly Real Estate

If the investor chooses to invest solely in real estate in order to cover the requirement of €2.000.000, the value of the residential property is included in the €2.000.000. This way, the total minimum investment amount remains at €2.000.000, which includes the purchase of a residential property of a minimum value of €500.000 + VAT.
*Note: Please note that requirements and conditions may change at any time. Thus, before the submission of a Cyprus Citizenship acquirement application, it is advisable to contact us for any updates to the requirements.

More on Benefits

Permanent residency status means that your family has the right to live freely in Cyprus or continue to live in your home country and just use the permit whenever you need it. It can act as an insurance policy for the future. Permit holders also have the right to own a business in Cyprus or setup a Cyprus company as an intermediary for export trading throughout the world, thus benefit from Cyprus’ excellent business and tax advantages. Cyprus is a superb base for travelling throughout Europe with its excellent flight connections and visas are very easy and quick to obtain. A permit holder can obtain a Schengen visa within just one week. Travel will become even easier when Cyprus becomes a Schengen State in the very near future. The island offers excellent education opportunities which enable your children access to the best universities worldwide. It also gives you the right to apply for EU citizenship after 7 years!
“Permanent residency offers your family the freedom to live freely in the EU and to travel with ease, it provides access to excellent education and healthcare, or simply offers an insurance policy for an uncertain future!”

Business and Taxation

Permit holders may own a business in Cyprus and benefit from a low corporation tax of 12.5% on net profits by setting up a Cyprus company. Additionally, they can use their Cyprus Company as an intermediary for export trading activities from their home country to enjoy tax benefits. Cyprus is firmly established as a reputable international commerce centre, the ideal bridge between East and West. It offers a tax efficient gateway for channeling foreign investments anywhere in the world. The Cyprus tax system is in full compliance with EU and OECD requirements. It provides a unique combination of favorable participation exemption provisions on income emanating from international activities, applies a wide network of double tax treaties, and zero withholding taxes on any type of payments made anywhere in the world. By invoicing all exports through a Cyprus company and accumulating most profits in Cyprus, permit holders may take advantage of the 12.5% corporation tax and benefit from the 0% tax on dividends offered to non tax residents. Anyone spending less than 183 days in Cyprus is considered non tax resident and will not pay tax on their worldwide income, only on income derived from Cyprus, excluding dividends.

Family Reunification

Ascendants and second line relatives of permit holders are able to visit or reside in Cyprus in accordance with Cyprus law. Family members wishing to visit for holidays will be granted with a three month visa, while ascendants wishing to reside in Cyprus may apply for a one-year pink slip which is renewable annually.

Long-Term Residency

Upgrading your permit to long-term residency status will enable you to enjoy similar rights to EU citizens, including the ability to work and operate a company. According to article 18H of the Aliens and Immigration Law, Cap.105 implementing Directive 2003/109/AC, non- EU nationals who live in a EU Member State for a period of more than 5 years are entitled to apply for long-term residency. This European Directive aims to provide permit holders with a set of uniform rights which are as near as possible to the rights which European citizens enjoy. These rights include the ability to work or operate a company, to benefit from the prevailing tax laws and to – access the same educational and professional opportunities offered to Cypriot and EU citizens, including scholarships. Long-term residency status is permanent and available to all non-EU nationals that have resided in Cyprus for over 5 years. The key criterion is that the applicant must not have been absent for more than six consecutive months or more than 10 cumulative months within the 5-year period.


Permanent residents will gain access to Cypriot citizenship after 7 years, in accordance with legal provisions. An EU citizen is free to live, work, travel, receive healthcare or pursue education anywhere within the EU, including the UK. In fact, travel benefits extend way beyond Europe with Cypriot passport holders being able to travel visa free to an extensive list of countries. Those that do require visas, such as the US, have very limited requirements and visas are issued within just a few days. The Cyprus citizenship program offers the most simple and efficient means of obtaining EU citizenship, it is the only direct EU citizenship program as it has absolutely no residency requirement and citizenship is approved in just 3 months. Investors and their families can obtain full EU rights, including the ability to live and work in any EU country practically immediately!
Spouse, dependents up to age 28 & parents of main investor
All Nationalities
Dual citizenship offers an effective tool for international tax planning and provides financial privacy for banking and investment. It improves personal security, enables freedom of movement and allows access to the best healthcare and education opportunities.
In March 2014, Cyprus changed the legislation that enables foreign investors to become a Cypriot (EU) citizen and obtain a Cypriot passport through naturalization, making it more accessible and affordable than ever. An EU citizen is any person who holds the nationality of an EU country. EU passport holders are entitled to enter, reside, study and work in the European Union, Iceland, Liechtenstein, and Norway. Non-Cypriot Investors can acquire Cyprus Citizenship by naturalization by exception on the basis of the Civil registry Laws 2002-2013.

Highly Efficient

> PR Approval in 5 days
> Citizenship conditional approval in 6 months
> Passports & ID's issued within 6 months

Exit Strategy

> 3 Years
> Pure investment - no donation element
> Main investment can be sold after three years
> Investment can generate a good return


> Investor and spouse
> Dependent children up to age 28
> Parents of main investor
> Citizenship passed on by descent

Very Practical

> No residency requirement
> No tax consequences
> No need to relinquish current nationality
> No language requirement, medical test, interview

Cyprus citizenship may be obtained through a secure property investment, the financial criterion is as followsInvestment Criterion

€2 Million investment in residential real estate (in a single property or portfolio)
*Parents of the main investor can be included in the application provided that they purchase a permanent residence property with a value of at least €500.000. This amount can be pooled in the main investment if preferred.
Residence permit allows his holder all opportunities for accommodation, leisure, education in Cyprus. And yet permanent residence permit has several drawbacks as compared to citizenship. Suppose you are a resident and not a citizen of Cyprus. Firstly you have no right to participate in elections of government authorities in Cyprus. Secondly you will need a visa to travel to other European countries. Though Cyprus is soon expected to join Schengen zone. Right after that you will be able to travel to Schengen countries without any restrictions.

Contact us for more details

Contact us for more details

Limassol Center Office 12-13, 7 Griva Digeni, 3106 Limassol - Cyprus
(EN-EL) +357-99-933-230
(RU) +357-99-933-202

Efeto Properties Ltd is a property development company established in Limassol, Cyprus.
The company’s vision from the start was to create buildings of great architectural value, using high-end modern materials.

© 2018 Efeto Properties Ltd, All rights reserved