Introduction

In 2008, the global financial crisis dealt a heavy blow to Cyprus’ Real estate market.

In order to stimulate the economy, the government introduced a home purchase immigration policy via property investment in 2009, allowing Non-EU citizens to obtain permanent residency by purchasing a property worth over 300000 euros. This policy aims to attract foreign investment and promote economic development.

Program Advantages

1. Eligible dependents include spouse and children (under 18, or aged 18-25 but unmarried and enrolled as full-time students)

2. No language or education background requirements

3. No residency requirements and only need to enter Cyprus once every two years

4. Eligibility for naturalization after legal cumulative residence for 7 years in total

5. Permanent residency card is valid for 10 years

Application Requirements

1. The main applicant must be at least 18 years old

2. Purchase a new property in Cyprus worth at least 300000 euros

3. Income Proof:

- €50,000 per year for the main applicant

- Additional €15,000 per year for the spouse

- Additional €10,000 per year per child

4. No criminal record.

Application Process

1. Select the property, sign the contract, and pay the deposit

2. Prepare the required documents

3. Pay the remaining funds for the property

4. Sign the Power of Attorney (POA) at the embassy

5. Submit the Application

6. Application is Approved

7. Land to Cyprus for Bometrics

8. Receive the permanent residency card