What do you benefit from buying property in the Republic of Cyprus?

Buying real estate in the Republic of Cyprus is not only a great idea by itself. It can also lead to obtaining a residence permit — under certain conditions.

• Residence permit for purchasing real estate in Cyprus
• Advantages of permanent residence
• Who can obtain a residence permit in Cyprus
• Frequently asked questions about Cyprus residence permits

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Residence permit for purchasing real estate in Cyprus

Citizens of non-EU countries can obtain permanent residence in Cyprus by investing at least 300,000 euros in real estate.

Permanent residents do not pay taxes on global income, including dividends and capital gains. There is no inheritance tax in the country, and income tax and property tax rates are low.

Advantages of permanent residence in Cyprus

Tax optimization

No taxes are levied on global income and inheritance, and property and income tax rates are low. The corporate tax rate is one of the lowest in Europe — 12.5%.

Income from real estate investments

Prices of Cypriot real estate grow by 1–4% annually. The same yield applies to residential property rental.

Prospect of obtaining a Cypriot passport

Permanent residence is granted for life. Five years after obtaining permanent residence, its holder can apply for Cypriot citizenship and become a full citizen of the European Union.

Opportunity to own a business

Unlike many other investment immigration programs, investors with permanent residence in Cyprus can buy shares of local companies, open their own businesses, or transfer existing companies under the island’s jurisdiction.

Creating a “safe haven” or relocating to Cyprus

Investors can visit Cyprus anytime and stay as long as they wish. They can relocate to the country or create a “plan B,” securing housing and a financial safety net in Cypriot banks.

High quality of life

Since 2001, Cyprus has been listed among developed economies by the IMF. According to the Human Development Index, Cyprus ranks 29th worldwide.

Access to quality healthcare and education

Residents of Cyprus can receive education in local schools and universities and access medical care at local facilities.

Fast processing procedure

Application review takes about two months, and the entire procedure — over 3 months.

Residence for the whole family

The program allows participation of spouses and children of investors.

Return of investments

If the investor obtains citizenship or ordinary permanent residence after living in the country for more than 5 years, they can recover their investments, for example, by selling their property.

Who can obtain a residence permit in Cyprus

• Investor
• Spouse or partner
• Children under 18 years old (including children from previous marriages)
• Children under 25 years old (students, financially dependent on the investor, unmarried)
• Children of any age (with physical or mental disabilities)

Requirements for the investor

• Age over 18 years
• No criminal record or prosecution, restrictions or bans on entering EU countries and the United Kingdom
• No sanctions
• Impeccable personal and business reputation
• Legal income of 50,000 euros per year for the main applicant
• Owned or rented housing in Cyprus
• Medical certificate
• Medical insurance

Frequently asked questions about Cyprus residence permits

On what other grounds can you obtain a residence permit in Cyprus?

There are 15 grounds for applying for a residence permit in Cyprus. The main ones are covered in our article about residence permits in Cyprus.

Is it possible to buy commercial real estate?

For obtaining a residence permit — yes. The minimum amount is the same, but you will also need to have residential property of any value.

Can you obtain Cypriot citizenship?

A permanent resident can obtain Cypriot citizenship after five years of residence in the country.

What does Cypriot citizenship provide in the future?

Citizens can travel visa-free to more than 170 countries, including EU countries and the United Kingdom.

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