FAQ Cyprus Immigration 2020

Cyprus Investment Program

How can I get Cyprus citizenship?

There are currently three ways to obtain a Cyprus passport:

• By descent (heritage)
• By marrying a Cypriot Citizen
• By legally residing in Cyprus for 7 years (naturalisation by long legal residence; a skilled-worker fast track of roughly 3 to 4 years also exists)

A fourth route existed in the past, the Cyprus Investment Program, by which an applicant obtained citizenship by investing specific amounts of money in the Cyprus economy, subject to anti-money laundering checks. That programme was abolished with effect from 1 November 2020 and no longer exists.

Is it possible to obtain Cyprus citizenship by investment?

No. This was possible in the past under the Cyprus Investment Program, which required a minimum investment of €2,000,000 plus a government donation between €100,000 and €200,000. The programme was abolished with effect from 1 November 2020, and there is no citizenship-by-investment route in Cyprus today.

What is the Cyprus Investment Program?

The Cyprus Investment Program was a regulation that, amongst other things, allowed people to obtain citizenship in Cyprus provided they had invested a minimum amount of funds in qualifying investments and complied with specific anti-money laundering requirements. The programme operated until 1 November 2020, when it was abolished.

Can a real estate developer in Cyprus lodge my passport application?

No. Under the citizenship regulations voted in August 2020, Cypriot developers were not regulated as a citizenship service provider. This question relates to the Cyprus Investment Program, which was abolished with effect from 1 November 2020.

What is the minimum investment required for Cyprus citizenship under the Cyprus Investment Program?

Under the programme, which operated until 1 November 2020, the minimum investment was €2,000,000 in residential property and €2,500,000 in commercial property, renewable energy, businesses in Cyprus (e.g., Cypriot innovative or technology businesses) or alternative investment funds. The programme has since been abolished, and there is no citizenship-by-investment route in Cyprus today.

What are the requirements to qualify under the Cyprus Investment Program?

Under the programme, which operated until 1 November 2020, there was a minimum investment of €2,000,000 plus a government donation between €100,000 and €200,000. In addition, the applicant had to pass due diligence checks, which occurred initially at the stage of fund transfer and then at the government level. Because banks in Cyprus conducted enhanced due diligence through unrelated international companies, once funds arrived in Cyprus, the applicant was generally also able to pass government checks.

How strict are the due diligence and anti-money laundering checks in Cyprus?

For large amounts such as those required for citizenship applications under the former programme, the banks conducted enhanced due diligence through international companies. They required evidence of the source and size of wealth and the funds to be used. In addition, background checks were made with global databases, local databases, and international authorities (such as Interpol) to make sure that the applicant did not obtain his wealth from illegal sources. The government also used international specialized companies to verify the above.

How fast does my Cyprus passport get issued?

Under the former programme, the Cyprus citizenship approval came approximately 6 months after the application was made, at which stage the applicant had to provide bio-metrics and take the necessary steps for the issuance of the passport. The passport was issued 9 months after the application.

Is it difficult then to get a passport through the Cyprus Investment Program?

The Cyprus Investment Program was abolished with effect from 1 November 2020, so this route is no longer available. Under the programme, it was not difficult if the applicant had a clean criminal record and could prove that his source of wealth and source of income was not related to money-laundering.

Do I need to buy real estate for obtaining a Cyprus passport?

Under the former programme, an applicant could invest in areas of the economy other than real estate, but in any case there was a minimum requirement of buying a house of €500,000. If investing in commercial real estate, businesses in Cyprus or Alternative Investment Funds, the applicant had to invest a minimum total of €2,500,000; €2,000,000 in the investment and €500,000 for the house which would be his permanent residence.

How long do I have to keep my investments?

Under the former programme, the applicant’s permanent residence had to be maintained indefinitely or be replaced with another residence of €500,000 or more. The remaining investments had to be maintained for at least 5 years, but they could be replaced with the permission of the Ministry of Finance.

Is Cyprus a member of the European Union (EU)?

Yes.

If I have a Cyprus Passport, can I travel freely in Europe?

Yes, Cyprus is a European Union member and Cypriots enjoy freedom of travel in every European country as well as visa-free travel in more than 150 countries globally.

If my children have a Cyprus passport can they study anywhere in Europe?

Yes, all European Union citizens can travel, live, work, and study in every country in the European Union.

Can my parents and parents-in-law get Cyprus citizenship as well?

Under the former programme, they could, provided that they bought an extra property of €500,000, or the investor and the parents/parents-in-law bought a property of €1,000,000. In any case, the minimum investment rose by €500,000. This applied under the Cyprus Investment Program, which was abolished with effect from 1 November 2020.

Permanent Residency

What are the requirements for permanent residency?

The applicant must purchase a new property worth at least €300,000 plus VAT and show secured annual income from abroad of at least €50,000, increased by €15,000 for a spouse and €10,000 for each minor child. The former requirement to place a fixed deposit of €30,000 pledged for 3 years in a bank in Cyprus was removed in the revision of 2 May 2023 and replaced by this secured-income test.

Are there any residency requirements?

No, there are no residency requirements.

Do I have to visit Cyprus certain times per year to retain my permanent residency?

Once your PR application is approved you need to come to Cyprus within 12 months and give biometrics for the PR card to be issued. After that, you only need to come to Cyprus once every two years.

If I have a permanent residency can my children go to private or public school in Cyprus?

Yes, they can. Public schools are free. Private schools have tuition.

If I have a permanent residency in Cyprus am I eligible for the public healthcare system?

Yes, you are.

Can I work in work in Cyprus if I have a Permanent Residency?

A Permanent Residency holder in Cyprus is not allowed to work.

Can I be director or a shareholder of a company in Cyprus if I have a Permanent Residency?

A holder of a permanent residence is not allowed to work in Cyprus. Being a company director in Cyprus will be considered to be work but exceptions may be made if the director is not getting remuneration. Shareholders are not considered as working in Cyprus.

What is the difference between PR 6.2 and Category F?

PR 6.2 and Category F are two different routes. PR 6.2 is the fast-track investment route under Regulation 6(2); Category F is a separate, income-based route under Regulation 5 that does not require an investment. Permanent Residency under rule 6.2 is granted in 3 to 6 months. Permanent residency under Category F takes approximately 18 to 24 months. In addition, Category F applications may be rejected at the discretion of the authorities. PR 6.2 requires a new property of €300,000 plus VAT (typically reduced at 5%) together with secured annual income from abroad of at least €50,000, increased by €15,000 for a spouse and €10,000 for each minor child; the earlier €30,000 three-year fixed deposit requirement was removed on 2 May 2023. Category F, by contrast, has no fixed investment rules and is assessed mainly on a secured foreign income sufficient to support the applicant in Cyprus.

How can I obtain fast track permanent residency under rule 6.2?

You can have a look at our guide for the process and list of requirements.

Other visas

How long does the immigration department allow me to stay in Cyprus with a visitor visa?

The maximum permitted stay is 90 days.

How long can I get a temporary residence for?

While a temporary residence may be issued for up to 2 years, typically the government issues temporary residences in Cyprus (so-called “Pink-Slip”) for 1 year.

Can I renew my visitor visa or obtain another visa to stay in Cyprus after the expiry of the initial period granted by the Cyprus Immigration department?

You should renew your visa before its expiry.

How can I work in Cyprus?

You will need to obtain a work permit. This is a simple typical registration for EU citizens. Non-EU citizens must apply for work permits in Cyprus.