In one sentence
Cyprus grants permanent residence directly for a EUR 300,000 new home plus a stable foreign income, with no renewals, usually in about 2–6 months.
Who it suits
- People wanting EU permanent residence directly
- Retirees or families with stable foreign income
- Those who value a stable status without renewals
Who it may not suit
- People needing to work in Cyprus
- Those wanting a resale property
Main requirements
- A new-build home worth at least EUR 300,000 (plus VAT)
- A stable annual income from abroad: EUR 50,000 for the main applicant, plus EUR 15,000 for a spouse and EUR 10,000 for each child
- At least EUR 200,000 paid before applying, from funds transferred from abroad
- No criminal record, and a visit to Cyprus at least once every two years
Timeline
| Step | Timing | What happens |
|---|---|---|
| Assessment and property search | 1–2 months | We shortlist qualifying new-build developments. |
| Purchase | 1–2 months | Sign the sale contract and make the payments. |
| Application | Per scheduling | Submit the permanent residence application and supporting documents. |
| Permanent residence | Usually about 2–6 months | Once approved, receive your permanent residence permit. |
Common myths
| Myth | Reality |
|---|---|
| Resale property qualifies | It must be a new build sold for the first time. |
| PR includes work rights | It doesn’t, though you can hold shares and be a director. |
| Citizenship by investment is available | Cyprus has ended it. |
Checklist before you apply
- Confirm a new build and check the developer
- Pay at least EUR 200,000 before applying
- Prepare proof of foreign income
- Transfer funds from abroad
Our advice
Check the developer and property before buying, and prepare your income evidence in one go.
Every family’s background and timeline is different — book a free consultation and a consultant will assess your situation.
Learn more: Cyprus Permanent Residency