Applicants are required to make a minimum investment of €300,000 in one of the following categories:
- Residential property (house/apartment): Purchase of a new house or apartment from a land development company, valued at no less than €300,000 (plus VAT). The property must be a first sale.
- Other real estate: Acquisition of properties such as offices, retail spaces, hotels, or similar developments, or a combination of these, totaling at least €300,000. These properties may be either new or resale.
- Cyprus company investment: Contribution of €300,000 in the share capital of a company registered and operating in Cyprus, with a physical presence and at least five employees.
- Investment funds: Investment of €300,000 in units of Cyprus-based collective investment schemes (AIF, AIFLNP, RAIF).
If the applicant sells their investment without replacing it with another of equal or higher value that meets the same requirements, their residence permit may be revoked under Regulation 6 of the Aliens and Immigration Regulations.
In addition to the investment, applicants must demonstrate an annual secured income of at least €50,000. This amount increases by €10,000 for each dependent child and €15,000 for each dependent parent (of the applicant or spouse).
Criteria
- The applicant and their spouse must provide a clean criminal record certificate from their country of residence, or from Cyprus if they already live there.
- Both the applicant and their spouse must confirm in writing that they do not intend to work in Cyprus, except if employed as Directors in the company where they have invested under this scheme.
Permits for Spouse and Children
- The Immigration Permit is issued to the applicant and covers their dependents, including the spouse and minor children under 18.
- If desired, separate Immigration Permits can be issued to each spouse, without the second needing to meet the full investment criteria, as long as a separate application is submitted and the corresponding fee is paid.
- If the investor’s permit is revoked for any reason, the spouse’s permit will also be subject to cancellation in accordance with Regulation 6 of the Aliens and Immigration Regulations.
