CYPRUS

Cyprus grants permanent residency to non-EU nationals who invest €300,000, most commonly in new residential property purchased directly from a developer. The legal route is an Immigration Permit for Investors under Regulation 6(2), often referred to as the Cyprus Golden Visa. This is a fast-track route that leads to a permanent residency status that does not expire, requires no renewal, and covers the applicant's spouse and dependent children.

Cyprus is an EU member state (though not yet part of the Schengen Area). It offers a Mediterranean base, an attractive non-dom tax regime, and an English-speaking business environment. The currency is the Euro.

Eligibility / Requirements

Nationality: Non-EU, non-EEA, non-Swiss.

Age: 18+ (main applicant).

Qualifying investment: At least €300,000 plus VAT. The most common route is a new residential property (house or apartment) purchased as a first sale from a developer. Other qualifying categories include commercial real estate, shares in a Cyprus company that employs at least five people, or units in an eligible Cyprus investment fund.

Minimum annual income: €50,000 per year from abroad (after tax). This increases by €15,000 for a spouse and €10,000 for each dependent child. For a family of four, the threshold is €85,000. The spouse's income can be included in the calculation.

Clean criminal record: Required for the applicant and spouse. Must be renewed every three years.

Health insurance: Private medical insurance covering all family members is required. A policy including repatriation cover (Plan A) is expected.

Source of funds: The investment capital must be shown to have originated outside Cyprus and be from a legitimate source. Comprehensive anti-money-laundering documentation is required.

Annual obligations: Evidence that the investment is maintained, and a health insurance certificate must be submitted annually. A clean criminal record must be submitted every three years. The requirement to annually submit proof of income has been abolished.

Physical presence: The permit does not require continuous residence. However, the holder must visit Cyprus at least once every two years to maintain the status. If permanent residence is acquired abroad, or if the holder is absent from Cyprus for two years, the status is lost.

Right to work: The Cyprus PR by investment does not grant the right to work in Cyprus, with limited exceptions. It is a residence permit, not a work permit.