Cyprus has emerged as one of Europe’s most appealing destinations for individuals and families seeking permanent residency through investment. With its year-round sunshine, scenic beaches, low crime rate, and business-friendly environment, the island nation offers more than just a Mediterranean lifestyle—it provides real opportunity. From tax advantages to a high standard of living, Cyprus is increasingly seen as a strategic choice for investors, retirees, and relocation seekers from around the world.
If you’re considering a move or investment in Cyprus, obtaining Permanent Residency (PR) offers long-term benefits, especially for non-EU nationals. This guide explains the entire process clearly—requirements, documentation, investment criteria, costs, benefits, and FAQs—so you can make an informed decision with confidence.
As a leading real estate development company based in Cyprus, Luma Developers offers expert support for investors throughout the PRP application process. Whether you’re exploring your options or ready to take the first step, we’re here to help.
The Cyprus Permanent Residency Permit (PRP) grants non-EU nationals the right to reside indefinitely in the Republic of Cyprus. It’s a lifetime permit, meaning there is no requirement for renewal, and once granted, it allows the holder and their family to live freely on the island without time restrictions.
The fast-track route is the most popular, offering speed (2–3 months), simplicity, and inclusion for immediate family members,including the spouse and dependent children up to age 25. Parents and in-laws are no longer eligible for inclusion under the same application. Unlike citizenship programs, PRP doesn’t require the applicant to live full-time in Cyprus—just a visit every two years suffices to maintain status.
In the next section, we’ll explore why Cyprus is such a strong choice for permanent residency.
Cyprus offers a compelling blend of lifestyle perks, economic incentives, and family security, making it one of the most attractive permanent residency destinations in Europe. Here’s why it stands out:
Cyprus ranks among the safest countries in the European Union, offering low crime rates and a relaxed Mediterranean pace of life. Residents enjoy more than 320 days of sunshine annually, pristine beaches, and access to mountain villages and cultural sites. The island’s high living standards and hospitality make it especially suitable for families and retirees alike.
Cyprus boasts a highly competitive tax system:
Corporate tax rate of just 12.5%-among the lowest in the EU.
No inheritance tax and no immovable property tax.
Reduced VAT (5%) on first-time residential purchases under PRP.
These fiscal benefits make Cyprus not just livable, but also investable—attractive for businesspeople, entrepreneurs, and wealth managers looking for long-term financial optimization.
Cyprus is home to a range of internationally recognized private schools, including English and British curriculum institutions, as well as top-rated universities. PRP holders can enroll their children in these schools, opening doors to a global standard of education.
Residents enjoy access to high-quality private and public healthcare systems. PRP status enables entry into Cyprus’ medical services framework, offering affordable care and English-speaking professionals.
While Cyprus is not yet a full Schengen member, the PRP facilitates smoother travel within the EU and simplifies visa applications. Once Cyprus joins Schengen (membership application is pending), PRP holders will benefit from increased travel freedom across Europe.
The Cyprus PRP allows for full family participation. Spouses and financially dependent children under 25 (if unmarried and studying) can be included under a single application. Parents and in-laws are no longer eligible for inclusion.
Next, we’ll dive into the PRP eligibility criteria and specific requirements, including investment, income, and documentation standards.
The foundation of the PRP application is a qualifying investment in Cyprus:
To ensure financial stability, applicants must prove they have:
This income must be proven via:
Additionally:
Applicants must submit a comprehensive set of documents, all properly translated and apostilled:
Once eligibility is confirmed and your investment is secured, the Cyprus Permanent Residency application process can move quickly—often finalized within 2 to 3 months. Here’s how it works, step by step:
Select a qualifying residential property with a total value of at least €300,000 (plus VAT), with a minimum of €200,000 paid before application submission.
Sign a Sale and Purchase Agreement and register it with the Cyprus Land Registry.
Pay at least €200,000 before application submission (receipt required)
Gather all supporting documents: passports, birth/marriage certificates, income proof, bank statements, etc.
Ensure everything is translated into English or Greek and certified/apostilled for international use.
Complete the MIP1 form (the formal application for permanent residence).
Submit it with all documentation to the Cyprus Migration Department either directly or through a legal representative.
Pay the required application fees (approx. €500–€1,000 total).
Authorities conduct background checks and verify documentation.
No interview or language test is required.
If any issues arise, you’ll be asked to clarify or submit additional documents.
If approved, you’ll receive a Permanent Residency Permit in writing.
A personal visit to Cyprus is required to collect biometrics and receive the permit card.
The entire process typically takes 60 to 90 days from submission.
After receiving the PRP, you and your family must visit Cyprus at least once every two years to retain the permit.å
No residency or physical presence requirement is enforced beyond that.
Item | Estimated Cost (€) | Details |
Residential Property Purchase | ≥ 300,000 + VAT | New property from a developer; resale properties do not qualify. At least €200,000 must be paid before application. |
VAT on Property | 5–19% | Reduced to 5% for first residential property used as main home |
Government Application Fee | 500 | Paid upon submission of MIP1 application |
Permanent Residency Card Fee | 70–100 per applicant | Issued after approval |
| Legal/Agent Fees | Varies (2,000-5,000 avg.) | Optional but recommended for document preparation, translations, filling |
Document translation & Apostille | 300-500 | Depends on the number of applicants and source countries |
Medical Insurance | 150–300 per person/year | Required for all applicants |
Total Estimated Minimum Investment:
~€335,000–€360,000+ (including property, fees, and bank deposit)
Important: This figure excludes optional upgrades like larger properties or additional investment vehicles such as company shares or fund units. Working with a professional agency like Luma Developers helps ensure no hidden costs, delays, or missed requirements.
This requirement applies to all family members included in the permit—so even a brief visit satisfies the legal condition for maintaining the PRP.
Family members granted residency under your application (spouse, children, parents) must also comply with the biennial visit rule.
Children who reach 25 years old and are no longer financially dependent may need to apply separately.
The investment property must be retained to maintain PRP status.
Selling or transferring ownership of the property to a non-eligible buyer without re-investment may lead to cancellation of the residency permit.
PRP holders cannot be employed in Cyprus.
However, they can:
Unlike other countries’ residency permits, Cyprus PRP is permanent and does not require reapplication or renewal, as long as compliance conditions are met.
Every adult PRP holder must submit a clean criminal record certificate from their country of residence every three years.
No. PRP holders are not allowed to take up paid employment in Cyprus. However, they may own and manage businesses or receive passive income from abroad or local investments.
Yes. The PRP covers your spouse and financially dependent children up to the age of 25 (if unmarried and studying). Parents and in-laws are not eligible under the same application.
The fast-track process typically takes 60 to 90 days from the time the application is submitted to final approval, provided all documents are in order.
Yes, PRP holders who reside continuously in Cyprus for 7 years (with at least 5 years of legal stay) may apply for citizenship through naturalization. This requires physical presence and integration.
Yes, rental income from your investment property is permitted and even encouraged. This income should be declared in accordance with Cyprus tax laws.
No. You only need to visit the country once every two years to maintain your PRP status.
Technically yes, but the documentation and compliance process is complex. Working with a trusted firm like Luma Developers helps avoid errors, delays, or rejections.
Navigating the legal and financial requirements of Cyprus permanent residency can feel overwhelming—but it doesn’t have to be. At Luma Developers, we specialize in helping global investors and families secure permanent residency through expertly selected real estate investments.
Whether you’re just beginning to explore your options or you’re ready to initiate the process, our experienced team will walk you through every step—from property selection and document preparation to application submission and beyond.
If you’re ready to make a smart move towards a secure, beautiful, and tax-friendly future in Cyprus we’re ready to help.
Contact us today through our website or use the contact form to schedule a consultation with one of our legal and real estate experts.
Obtaining permanent residency in Cyprus is one of the most accessible, secure, and beneficial immigration routes available today. With a straightforward investment requirement, generous family inclusion, and lifetime benefits, Cyprus offers a future of stability, sunshine, and opportunity.
Whether you’re investing for lifestyle, education, or long-term financial planning, the Cyprus PRP is your gateway to the EU—backed by a robust legal framework and one of the most welcoming environments in Europe.
Let Luma Developers be your trusted partner on this journey. From selecting the perfect home to managing every document and detail, our team ensures your transition is smooth, compliant, and worry-free.
👉 Start your Cyprus residency journey now—contact us to get personalized guidance from the experts.
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📞 Phone: +357 97 731133
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