Cyprus is a beautiful island nation in the Mediterranean Sea that offers a high quality of life, a warm climate, and favorable tax incentives for foreign investors and retirees. Cyprus permanent residency is a legal status that allows non-EU citizens and their dependents to enter and stay in Cyprus without any restrictions or visa requirements. It does not expire and does not need to be renewed.
How to obtain Cyprus permanent residency
The most popular way to obtain Cyprus Permament Residency is through the Cyprus Permanent Residence Program, which requires an investment of at least €300,000 in real estate, buying one or two new residential properties in Cyprus, such as apartments, houses, or villas.
The investment must be made using funds transferred from abroad and must be maintained for at least five years. The applicant must also provide proof of a secure annual income of at least €30,000 from sources outside Cyprus, such as pensions, dividends, rents, or salaries. The income requirement increases by €5,000 for each dependent family member and €8,000 for each dependent parent.
The applicant must also have a clean criminal record and not be subject to any sanctions or restrictions by the EU or other countries. The applicant must also visit Cyprus at least once every two years to maintain the permanent residency status.
Benefits of Cyprus permanent residency
Cyprus permanent residency offers several benefits for non-EU citizens who want to enjoy living in Cyprus or use it as a base for traveling within the EU. Some of the benefits are listed below:
Cyprus permanent residency is an attractive option for non-EU citizens who want to invest in a stable and prosperous country that offers a high quality of life, a warm climate, and favorable tax incentives. By investing at least €300,000 in real estate, shares, or investment funds in Cyprus, they can obtain permanent residency status that allows them to enter and stay in Cyprus without any restrictions or visa requirements. They can also enjoy various benefits such as freedom of movement, education, health care, and citizenship.
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