Buying a €300,000 property in Cyprus can still grant permanent residency, provided the investment complies with the current requirements of the Cyprus Permanent Residency Programme, including property type, payment structure, and applicant eligibility.
This residency route continues to function as a structured legal framework designed to link long-term residence rights to qualifying real estate investment, rather than a discretionary or temporary arrangement.
Programme Structure and Current Application Practice
Under the current Cyprus Permanent Residency framework, the €300,000 threshold applies specifically to new residential properties purchased directly from a licensed developer. The amount must be calculated exclusive of VAT, and at least €200,000 must be paid prior to submitting the residency application, with documentary proof that the funds originated from outside Cyprus. While the investment threshold itself has not changed, application reviews have become more procedural, with closer verification of payment timing, property classification, and financial documentation.
According to the Civil Registry and Migration Department of Cyprus, permanent residency under Regulation 6(2) remains available to third-country nationals who invest a minimum of €300,000 in qualifying new residential property and meet the prescribed financial and compliance conditions.
Investment Threshold and Property Criteria
The €300,000 investment threshold applies exclusively to newly built residential property acquired from a licensed developer. The qualifying value is assessed net of VAT, and the programme does not accept resale properties or undeveloped land. The regulatory focus remains on supporting new housing supply and ensuring that residency-linked investments meet defined development standards.
Payment Structure and Capital Transfer
Applicants must complete a minimum payment of €200,000 before submitting their residency application, with the remaining balance paid in line with the agreed purchase terms. All funds used for the acquisition must be transferred from outside Cyprus, and banking records confirming the origin of funds form a central part of the application review process.
Ongoing Eligibility Conditions
Permanent residency approval also depends on demonstrating a stable and secure annual income originating from outside Cyprus, with higher thresholds applying when dependants are included. The status does not grant the right to work in Cyprus and remains conditional on continued ownership of the qualifying property and ongoing compliance with financial criteria.
Key Considerations
Although the €300,000 threshold remains in place, residency approval depends on careful adherence to regulatory and procedural requirements rather than headline price alone. VAT treatment, payment sequencing, and income verification play a decisive role in application outcomes. Long-term ownership obligations should also be considered, as disposal of the qualifying property may affect residency status. As a result, preparation and timing are central to successful applications.
A non-EU investor purchasing a newly built apartment from a licensed developer for €300,000 plus VAT, with €200,000 paid before application submission and verified overseas income, would generally meet the core eligibility criteria for permanent residency in Cyprus.
Luma Developers operates within the Cyprus residential development market, delivering new-build properties that align with the structural and documentation requirements of the Cyprus Permanent Residency Programme.
FAQ
Does a €300,000 property still qualify for permanent residency in Cyprus?
Yes, provided the property is newly built, purchased from a developer, and all financial and procedural requirements are met.
Is the €300,000 amount inclusive of VAT?
No, the €300,000 threshold is calculated exclusive of VAT.
Can resale properties be used for residency applications?
No, only newly built residential properties purchased directly from a developer qualify under this programme.
Does Cyprus permanent residency allow employment?
No, permanent residency under this scheme does not grant the right to work in Cyprus.
