A Permanent Residence Permit can be obtained either via:
(i.) purchasing property in Cyprus; or
(ii) it can be granted to applicants (and their family members) who have legally resided in Cyprus for a continuous period of more than five years.
In order to obtain a Permanent Residence Permit, you need to:
- Own a property for which the value is at least €300,000 (+ VAT). The property must be new and purchased from a developer. You may purchase more than 1 properties, provided that the total value of the properties is at least €300,000 (+ VAT) and the properties are purchased from the same developer
- The purchase is made from funds received from sources outside Cyprus
- Your annual income sums up to at least €30,000 from sources outside Cyprus and may originate from salary, dividends, rental revenue, interest from bank deposits, pension income, etc
- Deposit at least €30,000 into a Cypriot bank for a minimum three-year period
- Clean criminal record
- Not employed in Cyprus but allowed to own a Cyprus company and receive dividends
- Visit Cyprus within one year of the grant of the PRP to take receipt of the PRP