Cyprus Immigration Frequently Asked Questions

How do I get residency by investment in Cyprus?

Cyprus has a fast-track option to get permanent residency for those who can deposit 30,000 euros in a Cyprus bank, purchase real estate, and earn at least 30,000 euros per year. Foreigners can also become residents through the startup visa if they establish a startup with high growth potential.

How much do I have to invest to get residency in Cyprus?

Getting residency in Cyprus requires a deposit of 30,000 euros in a Cyprus bank, proof of income of at least 30,000 euros a year from abroad and the purchase of property worth at least 300,000 euros. This does not include legal and government fees. Foreigners seeking a startup visa need 50,000 euros in startup capital.

What are the requirements for residency by investment in Cyprus?

Foreigners interested in fast-track permanent residency have to deposit 30,000 euros in a Cyprus bank account and prove that the money is coming from a legitimate source overseas. They also need to have an income of at least 30,000 euros a year (plus 5,000 euros for every dependent child or spouse), and buy real estate worth at least 300,000 euros. Fast-track permanent residents have to visit Cyprus at least twice a year.

The Cyprus startup visa requires that investors establish an innovative startup with a high growth potential and have a business plan in a specific format set by the government. Applicants can pursue this visa as individuals or a team.

How long does it take to get residency by investment in Cyprus?

The fast-track option could be done in as little as two months. Startup visa applications are evaluated within five weeks. Residency applications filed concurrently with citizenship applications are often processed within a few days.

How many countries can I visit with a Cypriot passport? 

A passport from Cyprus allows visa-free access to 174 destinations.

Do I have to be present in Cyprus before getting the residency by investment application approved?

No. Investors are not required to live in Cyprus during the application process, but they are required to visit.

Can I add my spouse and children to my application?

Yes, a spouse and children can be included.

What are the criteria for my children to qualify for residency in Cyprus? 

Children under 28 years old who depend on their parents financially qualify to be included in the program.

Do I have the right to work in Cyprus after obtaining residency through this program?

Permanent residency does not come with the right to work. However, a permanent resident can start a company and get dividends from that company’s profits.

What is the tax situation after obtaining Cypriot residency? Will the investor be required to pay taxes on income obtained from sources abroad?

If an investor lives in Cyprus for at least 183 days after becoming a resident, he or she will be considered a Cyprus tax resident and will have to pay taxes on local income. This also applies to those who spend at least 60 days in Cyprus and don’t spend 183 days in any other country, have a residence, and make money there. Non-Cyprus tax residents are required to pay taxes only on income earned in Cyprus.

How long do I have to wait to sell my investment in Cyprus? 

Under current rules, the investment in Cyprus has to be kept for at least five years. Anyone who went through the program before it underwent changes can sell the investment after three years. Residential property has to be kept for life.

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