Permanent Residency in Cyprus

Cyprus is a great place to live, both for families and retirees. The island is renowned for its fabulous beaches, but it also draws people from all over the world with its stunning mountains and little valleys full of vineyards, orange orchards, and olive groves. The cost of living in Cyprus is generally lower, the tax system more favorable, and property prices more affordable than in Northern Europe, Israel and the UK. English is widely spoken across the island.

Cyprus is one of the top 3 European Union countries for migration with a straightforward process for obtaining a residence permit.

A permanent residency permit gives you and your family the right to live freely and travel with ease throughout the EU. In these uncertain times having a plan B, a second home away from home, offers you and your family an insurance policy for an uncertain future. Permit holders also have the right to own a business in Cyprus or set up a Cyprus company for trading with excellent tax advantages.

OneIsland undertakes to assist you and your family with the relevant procedure to obtain Permanent Residency.

    1. Investment in a property valued minimum €300,000 + VAT.

    2. Funds should be transferred from the investor's personal account or his/her spouse to the developer's account, regardless of the date of delivery of the property. Relevant receipts should be submitted with the application.

    3. The main applicant must show proof of annual income of at least €50,000. The amount is increased by an additional €15,000 per spouse and €10,000 per child.

      The spouse's income can be included in the total income computation.

    4. Clean Criminal Record from countries of origin and residency (if it differs).

    5. Investor's annual income must be supported by a tax return validated in their tax residence country.

    6. The main applicant and family members must provide Health Insurance Certificates for medical treatment.

    7. Family size and property size, including the number of rooms, should correspond. Thus, a family of four is not eligible to apply for permanent residence under a one-bedroom property.

    8. The primary applicant and their spouse are required to provide evidence that they have no plans to work in Cyprus other than as directors of a company in which they have invested through this program.

    1. Maintaining the status requires visiting Cyprus once every two years.

    2. Annual submission to the Migration Department of the following:

    • Continued maintenance of investment.

    • Confirmation of the applicant's minimum annual income (€50,000), validated by a tax return from their country of tax residence, as well as the income of their family members (spouse - €15,000, child - €10,000).

    • Health Insurance Certificates for the applicant and each family member.

    • Clean Criminal Record certificates for the applicant and each adult family member.