Cyprus
Permanent Residence Program

Cyprus Permanent Residence Program

 

This program enables applicants to obtain Cyprus Permanent Residence directly through purchasing property in the local Cyprus market for at least EUR 300,000. Cyprus PR card is valid for 10 years, and there is no residence requirement for PR renewal. Card holders are only required to visit Cyprus once every 2 years. The program is popular due to its simple requirements and short processing time, which is about 6-8 months only.

 

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Time to permit

6-8 months

Visa-free travel

180 countries and regions

Passport rank

14th in the world

Residency requirement

No requirement

Taxation

No Worldwide taxation

 

Established time

Program launched in 2009

Application requirements

 

To apply for Cyprus Permanent Residence, you need to satisfy following requirements: 

 

1.Purchase property in Cyprus for at least EUR 300,000.

 

2. The main applicant should have an annual income of no less than EUR 50,000. Extra 15,000 euros is required for a spouse. Extra 10,000 euros is required for each additional child (i.e. EUR 65,000 for the main applicant and the spouse, EUR 75,000 for the couple and a child).

 

3. Accompanying children should be unmarried full-time students under the age of 25.

Venus Gardens Resort

Scope of Project:

Luxury Apartments and Villas in a gated community with landscaped gardens, swimming pools and facilities.

Villas with distinct Mediterranean characteristics and contemporary leisure design style.

Project Benefits:

  1. Super large community, 400 properties in total, spread over 10 phases, with the first 8 phases completely sold out and occupied.

  2. Comprehensive facilities including a swimming pool, clubhouse, children’s playground, tennis court, gym, public green spaces, and more.

  3. Located in a school district, it’s a 5-minute drive to Aspire International School, a 10-minute drive to Paphos International School, and a 5-minute drive to the beach and harbor.

  4. Suitable for personal living or rental, with a rental reference range of 1500-2000 euros/month.

Project Timeline:

Call for investors: September 2023

Expected Completion date: January 2024

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Mezzo Apartments

Scope of Project:

Limassol City Center High-Quality Apartments.

Conveniently located near schools with comprehensive amenities and easy transportation.

Project Benefits:

  1. Located in the heart of Limassol, this property is just 1.7 km from the old town.

  2. A 5-minute journey to the beach. Adjacent to a large supermarket, shopping, schooling, and daily commuting are all very convenient. Additionally, storage and parking are included, offering both affordability and convenience.

  3. The property is suitable for personal use or rental, with a projected rental income ranging from 1,500 to 2,000 euros per month.

Project Timeline:

Call for investors: February 2023

Expected Completion date: February 2025

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Program Benefits

 

1. The only country in Europe where 300,000 euros can buy a brand-new villa.

2.Both public and private medical care without the need for insurance.

3. The lowest cost of property maintenance. no property tax，no vacancy tax.

4. Low cost to enjoy British education system with excellent academics and high English proficiency.

5. National security ranked fifth in the world.

6. The lowest tax rate in Europe, zero inheritance tax, zero sales tax, zero dividend income tax, 12.5% corporate income tax.

7. Eligible for naturalization after 5 years without language test.