• Fast track procedure – issued within 2 months
• Permit covers the whole family (including the parents of both applicant and spouse)
• No physical residency requirements
• Property acquired can be rented out

• Acquire a new property of no less than €300,000 in Cyprus (acquired property can be rented). The property purchased may comprise of:
  • One or two housing units (apartment or houses) which maybe independent, or
  • One housing unit and a shop or a housing unit and an office
• Proof that funds came from abroad
• Proof of an annual income of €30,000 (plus €5,000 for every dependent)
• Bank account in a Cyprus Bank of no less than €30,000 pledged for 3 years
• Clear criminal record
• Successful applicant is not allowed to work in Cyprus, however he can be the owner of a company in Cyprus from which he can receive dividends

• Purchase property(ies) in Cyprus with a value of at least €300,000 (net of vat)
• Make an initial payment of €200.000
• Prepare the required residency documents and submit them to the Civil Registry and Migration

• Receive your residency permit within 2 months
• The applicant must visit Cyprus within one year to obtain the actual permit
• The Immigration Permit shall be valid for life, provided the applicant and dependents visit Cyprus at least once every two years.

There is also a non-fast track route (it currently takes at least 15 months) to acquire a Permanent Residency. The requirements are more or less the same but the most important differences are the following (please also refer to the comparative table below):

• The required investment is limited to one single residential property of no less than €150.000 (re-sale properties qualify as well).
• Children under 18 are eligible but permit expires when they turn 18. They can then make a new application if they satisfy the economic criteria.
• Dependent children over 18 not eligible.
• The €30.000 deposit in a bank in Cyprus need not be pledged for three years. In practice the amount can be withdrawn the day after we submit the PR application but we usually advise our clients to keep the money in the account until they receive the PR permit.
• No need to prove that funds for the acquisition of the property came from abroad.
• Finance of up to 70% available.

Comparison table between the Fast and the Non-Fast Track procedures