Short answer: Cyprus permanent residence is commonly obtained by buying a new home of about EUR 300,000 (plus VAT) and proving stable foreign income. After approval, status is permanent residence, often maintained with about one entry every two years. Cyprus is an EU member but not in Schengen; a Cyprus residence card is not the same Schengen experience as a Greece golden visa.
Main requirements
| Item | Detail |
|---|---|
| Property | New home about EUR 300,000 + VAT |
| Status | Permanent residence |
| Maintenance | Often a visit every two years |
| Income | Stable foreign income proof |
| Family | Spouse and dependent children typically included |
Whether resales qualify or multiple units can be combined follows current migration rules—marketing claims of “any resale” are often inaccurate.
What non-Schengen means
Travel to Schengen states may still need a visa or rely on another passport/residence you hold. If the main goal is visa-free travel across continental Europe, compare Greece or Portugal rather than assuming Cyprus PR equals Schengen free movement. Cyprus’s value sits more in EU permanent residence, an English-speaking environment and a Mediterranean base.
Positioning versus Malta and Greece
Malta MPRP also stresses permanent residence and multi-generation family; Greece offers renewable residence with regional property tiers. Cyprus attracts applicants who want a clear new-home floor and low maintenance frequency without living full-time in Europe.
Global Immigrate note
Confirm “new home” eligibility and developer delivery risk before purchase. Budget VAT, legal fees, furnishing and vacancy. If you need high-frequency Schengen travel, plan a second status or visa strategy—do not rely on the Cyprus card alone.
Income and source of funds
Besides the home, stable foreign income and lawful funds are usually required. Patchwork statements or unexplained large credits trigger RFEs. Complete the income and source file before signing—not after transfer.
Information current as of October 2026.
This article is general information, not legal or tax advice. See Cyprus permanent residence.