Cyprus

Cyprus Golden Visa Overview

The Cyprus Golden Visa is open to foreign nationals who invest at least €300,000 (approx. US$351,000) in qualifying Cypriot assets and demonstrate a secured annual income from abroad, who then qualify for permanent residency in Cyprus. 

Permanent residency is granted for life, with no minimum stay requirement, though holders must visit Cyprus at least once every two years to maintain their status. 

Employment in Cyprus is not permitted under this program, with the exception of serving as an unpaid director of a company in which the applicant has invested.

The main applicant can include a spouse, dependent children under 18, and unmarried children aged 18 to 25 who are enrolled in full-time tertiary education abroad. Children with physical or mental disabilities qualify at any age.

Eligibility Requirements

The program requires both a qualifying investment and proof of stable annual income from abroad. Three investment routes are available.

Residential Real Estate

• Purchase of new residential property from a developer with a minimum total value of €300,000 (approx. US$351,000) plus VAT
• Up to two properties from different developers may be combined to reach the threshold
• Only first-sale properties qualify; secondary market properties are not eligible for this route
• The investment must be maintained to maintain residency status 

Commercial Real Estate or Company Shares

• Purchase of commercial property (offices, shops, hotels) or investment of €300,000 (approx. US$351,000) in the share capital of a Cypriot company that employs at least five people and operates physically in Cyprus
• The investment must be maintained to maintain residency status 

Investment Funds

• Investment of €300,000 (approx. US$351,000) in units of qualifying Cyprus collective investment organizations (AIF, AIFLNP, or RAIF) regulated by the Cyprus Securities and Exchange Commission
• The investment must be maintained to maintain residency status 

Income Requirement (All Routes)

• Secured annual income of at least €50,000 (approx. US$58,500) from abroad, after tax
• Additional €15,000 (approx. US$17,550) per dependent spouse; the spouse’s income may be counted toward this amount
• Additional €10,000 (approx. US$11,700) per dependent child
• Acceptable income sources include salaries, pensions, dividends, interest, or rental income from abroad, verified through tax return declarations from the applicant’s country of tax residence
• For real estate investments, income must derive from abroad only; for other investment routes, part of the income may come from activities within Cyprus

General Eligibility Conditions

• Clean criminal record from country of citizenship and country of residence, to be renewed every three years
• Valid comprehensive health insurance for the applicant and all dependents
• Official declaration confirming non-employment in Cyprus (not required for company directors investing under the company shares route)
• Proof of accommodation in Cyprus (required where the investment is not in residential property)

Route to Citizenship

The Cyprus Golden Visa grants permanent residency for life, subject to the biennial visit requirement and the annual investment and insurance confirmation obligations. The residence card is renewable every ten years.

Holders who choose to physically reside in Cyprus and accumulate eight years of legal residence become eligible to apply for Cypriot citizenship by naturalization. 

To qualify for citizenship, applicants must have resided in Cyprus for at least eight of the previous eleven years and must have lived continuously in Cyprus for twelve months immediately prior to submitting the citizenship application. 

Naturalization requires demonstrating at least B1-level proficiency in Greek, passing a civic knowledge examination, and maintaining a clean criminal record.

Cyprus permits dual nationality. 

Mobility and Taxation

Mobility

Cypriot citizens can access approximately 174 destinations visa-free or visa-on-arrival, including the United States, the United Kingdom, Japan, Australia, and all EU and EEA member states. 

Cyprus is an EU member state, meaning Cypriot citizens upon naturalization gain full EU free movement rights to live, work, and study across all EU and EEA member states. 

Tax

Cyprus operates a Non-Domicile Tax Regime for individuals who are tax residents of Cyprus but are not considered domiciled in Cyprus. 

Under this regime, Non-Dom residents are exempt from the Special Defence Contribution (SDC), meaning they pay no Cyprus tax on dividends, interest, or rental income earned abroad, and pay no capital gains tax on the disposal of securities. 

The Non-Dom status is available for up to 17 years. Income earned in Cyprus is subject to standard Cyprus income tax at progressive rates from 0% to 35%. 

There is no inheritance tax and no gift tax in Cyprus. Golden Visa holders who do not establish Cyprus tax residency, by spending fewer than 183 days per year on the island, are generally not subject to Cyprus income tax on income earned abroad. 

How to Apply

The program is administered by the Civil Registry and Migration Department of the Ministry of Interior of the Republic of Cyprus, under Regulation 6(2) of the Aliens and Immigration Regulations. 

The process typically runs as follows.

Step 1: Select the qualifying investment route, engage a licensed Cypriot lawyer, and secure the required property purchase contract or investment documentation.

Step 2: Compile and prepare all required documentation, including a valid passport for all applicants, proof of the qualifying investment, proof of annual income from abroad, a clean criminal record certificate, proof of health insurance, and proof of accommodation in Cyprus where required. All foreign documents must be translated into Greek and apostilled or legalized.

Step 3: Submit the application to the Civil Registry and Migration Department with the applicable government fees. The official examination period is approximately two months from the date of complete submission.

Step 4: Travel to Cyprus to submit biometrics and collect the permanent residence cards upon approval.

Step 5: Submit annual declarations confirming that the qualifying investment is maintained and that valid health insurance is in place for all family members. Submit fresh criminal record certificates every three years for all applicants over 18.