Permanent Residency in Cyprus
Purchasing a property in Cyprus valued at a minimum of €300,000 grants foreign nationals and their family who originate from a non-European Union nation with the opportunity to become eligible for a Permanent Residency Permit in Cyprus. This is valid for life as long as holders maintain their property and continue to meet the necessary criteria.
An Efficient Process
If successful, applicants will receive their Permanent Residency Card within the incredibly short period of 2 months, making Cyprus’ Golden Visa scheme one of the best fast-track and most coveted schemes in Europe.
Successful applicants do not need to reside in Cyprus for the renewal of their Permanent Residence card.
There are countless advantages to holding a Permanent Residence card in Cyprus, as the country is a member state of the European Union. This means that holders of a Cypriot Permanent Residence Card have ease of travel throughout the European Union.
Furthermore, within their application, candidates can also include:
-Family members including financially dependent adult children below the age of 25
Path to Citizenship in Cyprus
The Cyprus Investment Program, which allowed foreign non-EU nationals to obtain Cypriot citizenship, ended last year. However, there is still an option for them to obtain citizenship through Cyprus’ Permanent Residency Programme. To be eligible for the program, applicants must first submit a successful Permanent Residence application. Once approved, they must reside on the island uninterrupted for seven years. After fulfilling this requirement, permanent residents in Cyprus will be granted a Cypriot passport.
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