Cyprus Regulation 6(2) Permanent Residence (PR by Investment)

Who qualifies

The permit is issued under Regulation 6(2) of the Aliens and Immigration Regulations to non-EU nationals who make a qualifying investment and show secured income. The governing investor criteria are the fourth revision of May 2023. The Migration Department ended the transitional use of the 2021 criteria on 3 March 2026, so every new filing is examined under the criteria in force on its filing date.

Qualifying investments

The minimum is €300,000, excluding VAT, in one of four categories:

1. A new house or apartment bought from a development company as a first sale, for at least €300,000 plus VAT. Up to two units can count, off-plan purchases qualify once official receipts reach €300,000 excluding VAT, and the contract or title deed must be filed with the Department of Lands and Surveys in the name of the applicant or spouse.
2. Other real estate such as offices, shops or hotels, with a total value of €300,000. Resales qualify in this category.
3. At least €300,000 in the share capital of a Cyprus company, either newly registered or through a capital increase. The company must be based and operating in Cyprus, have a proven physical presence and employ at least five people.
4. At least €300,000 in units of a Cyprus AIF, AIFLNP or RAIF whose investments are held in Cyprus.

The money must come to Cyprus from abroad, from the account of the applicant, the included spouse or a company owned only by them. It is paid into the seller’s account at a Cyprus financial institution and cannot come from borrowing in Cyprus.

Income requirement

Applicants show a personal secured annual income of at least €50,000 before tax, plus €15,000 for a spouse and €10,000 for each dependent child under 18. The spouse’s income can count toward the total. Salaries, pensions, dividends, fixed deposit interest and rents all qualify, and a tax return or an independent accountant’s certificates prove them.

For the new home category the income must come from abroad. In the other three categories part or all of it can come from activities in Cyprus if it is taxed there.

Costs

1. Application fee: €500, covering everyone in the application.
2. Aliens Registration Certificate: €70 for each person who needs one.
3. VAT on a new home: 19%, or 5% where the buyer meets the main residence conditions and the transaction stays within €475,000 and 190 m².

A first sale that carries VAT pays no Land Registry transfer fees. Document translations and health insurance come on top.

Application route

Applications use form MIP2 and are filed in person at the Migration Department in Nicosia or through an authorised representative. Since 2 April 2026 the department accepts only the revised versions of its forms. The Deputy Minister of Migration and International Protection takes the final decision.

The department estimates about two months from a complete filing, and about six months is seen in practice. Biometric data is given at the Migration Department in Nicosia or at the district unit of the Aliens and Immigration Service of the Police. Holders living abroad must settle in Cyprus within one year of the approval notice.

Family members

The permit covers the spouse and children under 18, and a child’s permit runs until the age of 18. Each spouse can hold a separate permit on a separate application and fee without meeting the criteria again.

Unmarried children aged 18 to 25 who are financially dependent and in tertiary education abroad file their own application, and the parent shows an extra €10,000 of income for each. A non-dependent adult child can join the same investment only if it rises by €300,000 for each such child, and each adult child must meet the income test and file separately.

Work and travel limits

The permit is not a work permit. The applicant and spouse declare in an official statement that they do not intend to take up employment in Cyprus, apart from a directorship in the company they invested in. Where the investment is not company share capital, they can hold shares, receive dividends and sit on boards as unpaid directors.

The permit does not grant Cyprus citizenship or Schengen travel rights. Cyprus has not abolished its internal border controls, and the deputy minister said on 10 October 2026 that full accession is expected in 2027.

Keeping the permit

Holders give the Migration Department evidence of the investment and a health insurance certificate each year, unless the family uses the public health system. Clean criminal record certificates for the holder and adult family members are due every three years. The earlier yearly income proof has been abolished, and the adult residence card is replaced every ten years.

Selling the investment without an immediate replacement of equal or greater value starts cancellation of the permit. The permit also ends after two years outside Cyprus or on acquiring permanent residence in another country. There is no minimum number of days to spend in Cyprus each year.

Planned tightening

On 24 September 2026 the Deputy Minister of Migration and International Protection told the House audit committee that decisions to tighten the scheme are expected before Schengen entry, and that about 12,000 permits issued since 2013 are under review. No new criteria have been published, and the May 2023 criteria apply to filings.

Path to citizenship

Naturalisation needs legal residence adding up to eight years in practice: 12 continuous months before the application and at least seven years in the ten years before that. Applicants also need Greek at level B1, a pass mark of at least 60% in the civics examination, suitable accommodation and stable income. Investors have no shorter route, and time on a student permit does not count.