Cyprus Permanent Residency by Investment

A minimum investment of €300,000 in a single one of the following categories:

• (1) up to 2 new residential properties.
• (2) commercial real estate.
• (3) shares in a Cypriot company with at least 5 employees.
• (4) units in a Cypriot investment fund (AIF/AIFLNP/RAIF).

Many investors choose apartments for long-term ownership and the option to rent them out.

PR is a right of permanent residence — it is not the same as citizenship.

• With PR, your whole family can live in Cyprus, set up a business there, and send your children to school locally.
• Once you meet the residence requirements, you may apply for Cypriot citizenship by naturalization. Processing times vary by case and by the authorities involved.

Schengen is not the same as the EU

• EU (European Union): a political and economic union of 27 member states.
• Schengen Area: a border-free travel zone of 29 countries.
• Some EU countries are not part of Schengen, and vice versa.
• Cyprus is an EU member state but is not yet part of the Schengen Area.

Travel to the EU and Schengen still requires a visa — there is no free movement yet

• Because Cyprus is not yet in Schengen and PR does not grant free movement within the EU, you will still need a visa (usually an eVisa, processed within a few days) to travel to other EU or Schengen countries.
• The right to live, work, and study freely in any EU country comes only with Cypriot citizenship.

Salaried employment is not permitted

• Cyprus PR does not allow you or your spouse to take up salaried employment.
• You may set up and run your own business. If you qualify through an investment in company shares, you may also serve as a director of that company.

Free tuition at Cypriot public schools

• From primary through the end of secondary school.

Key requirements

• Legal residence in Cyprus for at least 8 years (2,920 days) within an 11-year period.
• Continuous residence: you must have lived in Cyprus continuously for the full 12 months immediately before you apply.
• Cumulative residence: during the 10 years before that final 12-month period, you must have lived in Cyprus for a total of at least 7 years (2,555 days).
• Maintain the original investment and have no criminal record in Cyprus or abroad.
• Greek language proficiency at B1 level and basic knowledge of Cypriot society and institutions.

Requirements may change as the law is amended — contact IMM Group for the latest position.

Full EU citizenship rights

• The Cypriot passport offers visa-free or visa-on-arrival access to more than 170 countries and ranks among the top 15 on major passport indexes; you gain the freedom to live, study, and work in any of the 27 EU member states. Dual citizenship is permitted.

Two main risks

• Choosing a developer or project without a solid track record, or a property that does not qualify for PR.
• Funds from an unlawful source, which can lead to the application being refused.
• IMM Group carries out thorough due diligence on each project and application before any contract is signed to help reduce these risks.

Generally simpler than in the U.S., Australia, or Canada

• You must show a lawful source of funds, although the documentation required is generally less extensive.
• For example, for proceeds from a property sale, you need to show the year of purchase and the property's value at that time.
• Every family's documentation is different — contact IMM Group for advice specific to your situation.

PR has no expiry date as long as you maintain the investment

• Cyprus PR remains valid as long as you maintain the investment and continue to meet the program requirements.
• Once you meet the residence requirements, you may apply for Cypriot citizenship by naturalization.

No upper age limit and no education requirement

• The main applicant only needs to be 18 or older; no degree or management experience is required.

Spouse and dependent children

• A legal spouse; children (including adopted children) who are unmarried and financially dependent (under 18, or aged 18–25 and enrolled in university or higher education).
• Note: the program does not allow the parents of the applicant or of the spouse to be included in the same application.

Adopted children and stepchildren are eligible

• Adopted children: a legally recognized adoption certificate is required.
• Stepchildren: legal documentation is required, together with a certified letter of consent from the spouse.
• IMM Group assists with preparing these documents.

No minimum stay requirement

• You only need to visit Cyprus once every 2 years to maintain your permit.
• If you plan to apply for citizenship, you will need to meet the residence requirements under Cypriot law.

You must maintain the investment to keep your PR

• Once you acquire Cypriot citizenship, you may transfer or sell the property, shares, or fund units you invested in.