Non-EU citizens who purchase property in Cyprus can benefit from obtaining a Permanent Residency.
- Purchase a property in Cyprus of a minimum value of €300,000 plus VAT and provide a proof of payment for at least €200,000 plus VAT.
- Prove that the applicant has a minimum annual income of €30,000 deriving from overseas. This income must increase by €5,000 for each dependent child and €8,000 for each dependent parent.
- Provide a clean criminal record certificate issued by the Authorities of their country of origin.
- Visit Cyprus at least once every two years.
Given that the above requirements are satisfied, the application shall be examined by the Minister of the Interior and the permit shall be granted within 2 months.
Permission to Buy in Cyprus .
Cypriots and EU citizens can buy property without any restrictions and any authorization.
Non E.U citizens wishing to buy property in Cyprus, permission is required to be sought from the Council of Ministers by written application. The application must be submitted within a reasonable time after the contract of sale is signed. In the meantime, the purchasers can take possession of their property without restriction.