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Can I gain residency by buying a property in Cyprus?

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It is possible to use a property investment as a means to gaining residency in Cyprus. However, the republic has tightened its investment criteria in the past few years and added a steep minimum income requirement.

It may be that there are easier visas for you; speak to an immigration lawyer to review your options.

The Cyprus golden visa scheme

Cyprus has a ‘golden visa’ (residency by investment) scheme, like many countries that are popular with expats. Moreover, the Cypriot golden visa scheme has one of the lowest entry barriers in Europe.

If you purchase certain types of property, worth over €300,000, you can benefit from permanent residency. The property must be a new build, bought from a developer, not a resale. It has to be paid in full before the application.

You must also have a minimum annual income of at least €50,000, plus an extra €15,000 for a spouse and €10,000 for each dependent child.

Golden visa scheme for permanent residency benefits:

  • It’s a simple and fast process
  • A visit is required just once every two years to maintain your residency
  • Easy travel throughout the EU
  • It extends to family and dependants under the age of 25

If, however, the property’s worth over €2,000,000, then you are automatically eligible for full citizenship.

Golden visa scheme for citizenship benefits:

  • You become a full EU citizen
  • It’s a simple and fast process (you can get a European passport in two months)
  • Full family citizenship is granted for children up to the age of 28

Permanent residency or citizenship through the golden visa scheme applies not just for you, but your family too. Any children, plus your spouse, can benefit — and it’s valid for life. So, if you’re looking to buy property in Cyprus, this is an option that’s definitely worth considering.

Alternate routes to residency in Cyprus

There are non-real estate investment routes to the golden visa. Read more here.

Alternatively, if you’re a third-country national (non-EU or EEA) citizen, you will need to apply for a visa to stay any longer than 90 days in every 180 in Cyprus.

For a break down of long-term visa options in Cyprus, head to our visa and residency page.

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