How much to invest in Cyprus to get citizenship?
Parents can also get Cyprus Citizenship by buying a property for a minimum of €500,000 if their children have already acquired it. In other words, parents are NOT required to make a full investment of €2 million. Only a house or apartment purchase for a minimum amount of €500,000 is enough.
Applicants may be able to obtain a Cypriot passport by investing at least €2,000,000 in alternative investment funds or financial asset of Cypriot companies/organisations. Financial assets include bonds, bills and securities issued by a company or organisation physically present and active in Cyprus.
An investment of at least €2 million in an applicable sector. The main applicant must be at least 18 years old. One visit is required to acquire biometrics and permanent residence permit. Ownership of a lifetime, private residence (house or apartment) in Cyprus with a purchase price of at least €500,000 (+VAT).
Foreigners can get Cyprus permanent residence when buying a property worth €300,000 or more. After five years, they can apply for citizenship.
It is also known as a Cyprus immigration permit or unlimited residency. In 2024, to obtain a Permanent Residency permit in Cyprus with the fast-track option, the applicant must invest at least €300,000 in real estate or other investment options. This residency can cover the whole family and does not expire.
By investing into a property which is of adequate standard to the size of your family you can obtain a permanent residency in Cyprus. For example, if a 3 member family purchases a 2 bedroom apartment this would be considered an acceptable residence.
In short, to become a Cyprus citizen, you must be married to a Cypriot citizen for at least 3 years, or have Cyprus roots, or live in Cyprus for 7 years (2555 days) with a temporary residence permit or 5 years (1825 days) as a permanent resident.
The Cyprus Golden Visa program enables non-EU, non-EEA, and non-Swiss nationals who buy property or set up a business in the Republic to acquire legal permanent residency, and increases their eligibility for European citizenship and a Cyprus passport.
Dual citizenship is recognized in Cyprus. You are not required to renounce your previous nationality to become a citizen of Cyprus.
Antigua and Barbuda - Easiest Country to Get Dual Citizenship by Investment. The Antigua and Barbuda citizenship by investment program grants qualifying individuals citizenship rights and an Antigua and Barbuda passport in three to six months in exchange for the starting investment amount of $100,000.
What are the pitfalls in buying property in Cyprus?
Pitfall 1 – Not appointing an independent property lawyer
Such contracts will likely not protect the buyer, and instead be heavily biased in favour of the developer. Also, beware of lawyers acting for vendors or builders, who are therefore not independent. This is the equivalent to not appointing a lawyer at all.
There are several advantages to buying property in Cyprus for a Golden Visa. Firstly, Cyprus offers a competitive tax system with various benefits for investors. Additionally, the country provides a high quality of life, a robust legal framework, and a favorable business environment.
You can also use a multiple entry visa in case you have proof of frequent visits (for instance, owning a property in Cyprus). Its duration can be up to 5 years, and it does not limit the number of arrivals to the island. But even such a visa does not allow extending 90 days of stay in Cyprus every 180 days.
You purchase a property in Cyprus valued at least €300,000.
You will deposit €30,000 in a Cypriot bank account, which will be frozen for three years. You will enter Cyprus at least every two years. If you have dependents, you must have an additional annual income of €5,000.
The minimum is about EUR 10,000 annually, with an additional EUR 5,000 for each dependent family member. This type of residence permit does not give you the right to work. Permanent residency by investment is granted if you buy a property of at least EUR 300,000 and have a secured annual income of EUR 50,000 annually.
Cyprus temporary residence permit, the so-called Pink Slip, allows non-European Union passport holders to extend their stay in Cyprus for over 3 months (90 days). It will also enable tourists and visitors to extend their stay no matter what was the duration of their initial visa.
The mild Mediterranean climate, high living standards, strategic location between three continents, crystal clear sea waters and long stretches of Blue Flag beaches make Cyprus an ideal European country for buying a property.
Non-EU citizens can purchase immovable property, nevertheless, permission must be sought from the Council of Ministers by written application, which must be submitted by the non-EU citizen purchaser after the contract of sale is signed.
If the property owner is not a tax resident in Cyprus, the rental income from real estate in Cyprus must be declared as “Cyprus-sourced income” in the country of tax residence. Important: Keep in mind that the VAT you pay when you purchase a property, determines if you are allowed to rent it out.
Countries in Europe that are easiest to get citizenship
Portugal, Spain, and Greece offer more accessible citizenship options, especially through investment or Europe Golden Visa programs. Malta and Cyprus also have investment citizenship alternatives.
Is Cyprus friendly to foreigners?
Cyprus is recognised as one of the top EU countries for migration, according to Eurostat. In 2021, it was ranked 3rd after Luxemburg and Malta and welcomed 27 non-EU citizens per 1,000 people. In Portugal and France, this rate was 5 people per 1,000. Read on and find out what makes Cyprus so attractive to foreigners.
Portugal allows any children born in the country to become citizens if their parents have been a resident in Portugal for at least one year. This law is by far the most lenient in Europe. Portugal is arguably the easiest European Country to immigrate to as it has several residence options.
- Malta Permanent Residence Programme — €150,000.
- UAE Residence Visa — $204,000.
- St Kitts and Nevis citizenship by investment — $250,000.
- Greece Golden Visa — €250,000.
- Portugal Golden Visa — €250,000.
- Italy Golden Visa — €250,000.
With a residence permit, you can become a permanent resident if you live in Cyprus for 5 years. Alternative options are to invest at least €300,000 in the country's economy or obtain an immigration permit. Cyprus permanent residence allows a foreigner to reside legally in the country.
It is not possible to obtain Greece citizenship by investment directly. However, it is achievable to become a resident of Greece by investing at least €250,000 in Greece real estate. The Greece residence permit holders can then apply for citizenship after a minimum of seven years.
