You’re exploring how to secure a five-year residence permit in Cyprus through investment. By reading this, you’ll understand the core requirements and timeline, see how the program evolved after 2020, compare it with similar EU schemes, assess its impact on the island’s economy, and learn about tax benefits, common pitfalls, and life on Cyprus. You’ll also find out how to renew your permit, bring your family, and where controversies have arisen.

Cyprus Investment Visa: Core Details

Cyprus offers a five-year residence permit in exchange for one of three €300,000 investments. Once approved, you enjoy visa-free travel within the Schengen area (with short stays) and access to local schools and healthcare.

Investment Options

• Real estate purchase (minimum €300,000 plus VAT)
• Acquisition of shares in a Cyprus-registered company (€300,000)
• Units in a Cyprus investment fund (€300,000)
  (Source: IMI Daily’s analysis of Cyprus Golden Visa investment choices)^1*

Eligibility Requirements

1. Clean criminal record
2. Proof of stable annual income (no less than €30,000 plus €5,000 per dependent)
3. Purchase or long-term lease of residential property in Cyprus
4. Health insurance valid in Cyprus
   (Source: Immigrant Invest’s overview of Cyprus permanent residence criteria)^2*

Application Process & Timeline

• Submit application at local Civil Registry office
• Provide certified translations of all documents
• Receive an official decision in approximately 2–4 months under the fast-track route
  (Source: Henley & Partners’ guide to Cyprus residence timelines)^3*

From “Golden Passport” to Golden Residence

Until November 2020, Cyprus ran a citizenship-by-investment program granting passports for €2 million investments. In December 2020, amid EU criticism over abuses, the government terminated that scheme. The current five-year visa focuses strictly on residency and removed any direct citizenship component (Reuters report on Cyprus ending golden passports).

How Cyprus Compares with Greece, Portugal and Malta

Country | Minimum Investment | Residency Requirement | Path to Citizenship
—|—|—|—
Cyprus | €300,000 real estate | No stay obligation | Naturalization after 7 years
Greece | €250,000 real estate | 7 days per year | 7 years residence
Portugal | €280,000 cultural/renovation projects | 7 days first year; 14 days subsequent years | 5 years residence
Malta | €250,000 donation plus property purchase | 36 months over 5 years | Citizenship after 5 years

(Source: Official government portals of Cyprus, Greece, Portugal, and Malta)

Economic Impact on Real Estate and Beyond

Foreign investment in Cyprus real estate dipped briefly after the 2020 reform but rebounded rapidly:

• House prices rose 10.5 % year-on-year in March 2024 (Trading Economics).
• Non-resident buyers captured over one-third of property transactions in 2022 (Global Property Guide).

This influx supports construction, services, and creates jobs in the legal and financial sectors.

Tax Incentives and International Treaties

As an investor you can benefit from:

• Non-domicile status: 0 % tax on dividends and interest for 17 years (Tax Foundation’s Cyprus tax summary).
• Double-taxation treaties: Access to over 60 agreements, reducing withholding taxes on foreign income (PwC Cyprus Tax Facts).
• Corporate tax: Flat 12.5 % rate if you set up a Cyprus-registered company.

Common Challenges Applicants Face

You should watch out for:

1. Investment compliance – maintain the €300,000 threshold for at least five years.
2. Bureaucratic delays – document discrepancies can add months to processing.
3. Market volatility – property prices can fluctuate 5–10 % annually.

“Thorough upfront due diligence saves investors from costly mistakes down the line.” – Maria Alexandrou, Cyprus legal advisor

Living and Integrating in Cyprus

Cyprus is more than sun and sea. You’ll find:

• Greek and Turkish as official languages; English is widely used in business and schools.
• International schools offering British and American curricula.
• A public healthcare system supplemented by private clinics in Limassol and Nicosia.
• One of the EU’s largest ship registries—ideal if you’re in maritime trade (Cyprus Shipping Deputy Ministry).

Renewals, Permanent Residency and Citizenship

Your five-year permit is renewable in five-year increments if you still hold the qualifying investment. After seven years of legal residence, you may apply for Cypriot citizenship, provided you:

• Pass a basic Greek-language test.
• Demonstrate integration into Cypriot society.
  (Source: Cyprus Civil Registry and Migration Department guidelines)^14

Who’s Applying and Family Reunification

Recent data shows most applicants hail from China, the Middle East and the UK. You can include:

• Your spouse
• Dependent children under 18 (or up to 25 if in full-time education)
• Parents or grandparents on proof of dependency
  (Source: Immigrant Invest’s data on family inclusion rules)^2

Scandals and Scrutiny

The pre-2020 golden passport program faced allegations of selling citizenship to politically exposed persons without proper vetting. In 2021, the EU launched infringement proceedings over rule breaches, leading to tighter due diligence and the removal of the citizenship-by-investment scheme altogether (European Commission press release on Cyprus infringement proceedings).

Charting Your Course

You now hold a clear picture of the Cyprus investment visa—from its €300,000 investment requirement and streamlined application to its economic repercussions, tax perks, and potential hurdles. You’ve seen how it differs from Greece, Portugal and Malta, and you understand life on the island and the path to full citizenship. With this roadmap, you can decide whether Cyprus is your ideal European gateway.