Permanent Residence Permit Programme

Permanent Residence Permit

This guide provides information for foreign (non - EU) nationals who wish to obtain a Cyprus residence permit (PRP) as a result of a property purchase in Cyprus.

Easily obtained for non-European citizens who purchase property valued at a minimum of €300,000 (excluding VAT). Unlike temporary permits, PRPs are permanent and they do not have to be renewed. Hence, obtaining a PRP could be very useful and offer numerous benefits.

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STEPS

Purchase a property with a market value of €300,000 + VAT in Cyprus

DEPENDENT PERSONS

The PRP applies to the applicant's spouse and dependent children under the age of 18
Unmarried children between the age of 18 and 25, who prove that they are students and financially dependent on the applicant, can submit a separate application to obtain an Immigration Permit

BENEFITS TO A CYPRUS PRP HOLDER

You and your eligible family will be allowed to live in Cyprus
Fast access to Europe and Middle East
2 months procedure
All nationalities eligible
The right to own and start a business in Cyprus or establish a Cyprus company as an intermediary for export trading throughout the world
Cyprus is one of the most popular destinations for setting up companies with only a 12.5% corporate tax rate, and double taxation treaties with many countries
Access to high quality educational systems and healthcare in Cyprus
No Inheritance tax
Rental income possibilities
The right to apply for EU citizenship after 7 years
High quality of life and standard of living

The information above is for general information purposes, they may not reflect current legal developments and do not constitute legal or tax advice. Recipients of this document should not act upon the information without obtaining legal or other professional advice.