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Cyprus Permanent Residence

Investing in real estate allows you to obtain a Permanent Residence Permit in Cyprus.

The Cyprus Permanent Residency Program (PRP) grants the right to travel within the EU with less elaborate visa requirements and obtaining Cyprus citizenship.

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Cyprus permanent residence for property buyers

  • Issued within 2 months
  • Life-long validity without need for renewal
  • Granted to all family members including children and parents from both sides of the family
  • Non-residency requirement other than to visit Cyprus once every two years, unlike other European member-states, which insist on residency for at least 3 months per year
  • Makes it possible to have a business in Cyprus and to receive shareholder dividends

Why Cyprus?

340 days of sunshine a year

High standard in healthcare and education

Lowest crime rate in Europe

Lowest taxes in Europe and highly
developed services sector providing legal
and accounting services

Excellent transport and
telecommunications infrastructure

Freedom of people, workers, services
and goods within the European Union

Why choose PRIME PROPERTY GROUP?

We have been successfully active in business since 2003. During this time, we have successfully assisted hundreds clients from Russia, China, the CIS and other nationalities to receive the Permanent Residence Permit and further facilitated their investment in Cyprus through real estate

Our team of experts will assist you appropriately throughout the entire application process, from drawing up the necessary documents to any administration required towards the success of your case

We offer clients an extensive rang of real estate options, the purchase of which entitles them to apply for a Permanent Residence Permit

Main 4 steps

Step 1

Free consultation


Get your free consultation from Prime Property group (by phone / Skype or personally) regarding the Residence permit in Cyprus and properties qualified for obtaining residency

Step 2

Familirisation tour (2-4 days)


1. Private transfer from and to the airport with our own exclusive transportation

2. Introduction to Cyprus by becoming familiar with its unique culture and lifestyle

3. Presentation of PRIME PROPERTY GROUP

4. Meeting with the legal department of PRIME PROPERTY GROUP, including a detailed presentation and discussion about the Permanent Residence Programme

5. Tour of pre-selected real estate options, accompanied by our team of experts

Step 3

Final Decision (1 day)


1. Liasing with client on his final real estate options

2. Assisitng client to take final decision and if affirmative, proceed to the next step

Step 4

Investment (1-5 days)


1. Obtainment of official documentation of Permanent Residence Permit

2. Enjoyment of newly found way of living in Cyprus

Questions and Answers

1. What type of investments qualify someone to apply for the PRP?

You may purchase a first-time residential property worth over €300,000 (plus VAT). Applicants may buy a combination of real estate projects:

  • one apartment or house;
  • two apartments or two houses or a combination of each. In case of two housing units, these shall be purchased from the same development company;
  • One housing unit and an office of surface of up to 250 sq.m.

2. Should the property be brand new?

Yes. Resales are not eligible under the PRP

3. How to distinguish between a resale and a new property?

A resale is a property which was previously owned by an owner. A new property is a brand new property, not previously owned by anyone; the applicant is the first owner purcharsing directly from the developer.

4. Can the purchase of property be made by a company?

Yes, but the company must be registered in Cyprus and the applicant or his spouse (or both) must be shareholders and his/their name/names should appear in the certificate of the shareholders of the Company. If the shareholder of this Company is another Company, you must prove that the only shareholder of that Company (the shareholder company of the first company) is the applicant (his spouse or both).

5. What is the difference between Category F and Regulation 6(2)?

Regulation 6(2) concerns the information given in this fact sheet. Category F takes longer to be examined and its main provisions are:

  • Examination period is approximately 1,5 year;
  • Under this category you do not have to make any fixed deposit;
  • Any property either new or for resale is admissible;
  • Children under 18 when they become 18 lose their P.R. status and they cannot get it later unless they purchase a property and apply separately themselves;
  • The parents of the applicant cannot secure permanent residency under this category;
  • The holder of PRP is not allowed to be a shareholder and/or director in a Cyprus company.

6. Are trust deeds accepted instead?

Trust deeds are acceptable. The applicant could be the UBO of the company.

7. Can the property be bought from a third party?

No. The property must be directly bought from the developer who built the property. In the case of purchasing two properties, both properties must be from the same developer.

8. Are there specific banking requirements to apply for a PRP?

You must maintain a 3-year fixed deposit with a Cyprus bank of at least €30,000 transferred from abroad. After 3 years, the money will be released without restrictions. For spouse and dependent children included in the application, an additional €5,000 per person must be added to this amount and €8,000 for each parent of the main applicant or their spouse.

9. Which family members get PRP?

The main applicant has the option to include in his/her application his/her, minor children, adult children up to the age of 25, provided that they are students, as well as, his/her parents and parents in law; the minor children will lose the PRP once they reach the age of 18 but they will have the option to apply again and obtain PRP for the lifetime provided, that they will be students.

10. If I am married with grown up children, will they all become resident?

Yes, provided they are under 18 years old.

11. Do I have to renew the PRP?

Permanent residence is for life and does not have to be renewed.

12. Is there a fast-tract process in obtaining a PRP?

Yes. Once you apply, the fast-track procedure is examined and it results to a positive answer within 3 months, provided all preconditions and requirements are met.

13. Can I work in Cyprus and be granted a PRP?

No. The holders of the PRP must not work in Cyprus. You are though allowed to receive dividends from a Cyprus company as shareholder.

14. Can I travel to Shengen countries without a visa?

No, you will need to have a Schengen visa. PRP holders can apply for a 1-year Schengen visa to any European Embassy in Nicosia. The application is simple and quick.

15. Do I have to live in Cyprus to keep the PRP?

No but you have to come back to the island every 2 years

16. Can I travel to USA with PRP?

A PRP is not a passport and does not hold the same traveling rights; Cypriots wishing to travel to the United States require a visa. For information on how to apply, we refer you to the Official U.S. Department of State Visa Appointment Service for Cyprus.

17. Do I need to sit special language and history exams?

No, such exams are not required.

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Налоги и пошлины
ID: 6399
Сбор за перевод права собственности (единоразовый)
1445.7 € (1.57 %) один владелец
1380 € (1.50 %) два владельца
Гербовый сбор (единоразовый)
138 € (0.15%)
Налог на недвижимое имущество (ежегодный)
75 € (0.08 %)
Муниципальный налог (ежегодный)
250 €/год (0.27 %)
Стоимость юридического сопровождения (единоразовая)
736 € (0.8 %) — 920 € (1 %)

Более подробную информацию о налогах и сборах при покупке недвижимости на Кипре вы можете получить на нашей странице.

Ольга
Менеджер-консультант
+(357) 25 315 318
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