Investments

Currently, real estate in Cyprus can be sold to both EU citizens and third-country nationals virtually without any restrictions.

Buying real estate in Cyprus is a profitable investment; it allows you to successfully invest, get income from renting, as well as obtain a permanent residence permit in Cyprus.

It should be noted that investing in real estate allows you to get a permanent residence permit in Cyprus. The main features of the permanent residence permit obtained in exchange for investment:

• Permanent residence program in Cyprus grants the right to travel within the EU with less complicated visa requirements, and can be considered as the first step to applying for Cypriot citizenship (under the simplified scheme);
• Prompt issuance of the Permanent Residence Permit. Residence permit is issued within 2-3 months;
• Permanent residence permit is valid for life. There is no need to renew your residence permit;
• Permanent residence permit is granted to all family members, including children and parents on both sides;
• For the holder of permanent residency there are no requirements for permanent residency in Cyprus. One family member needs to visit Cyprus once every two years, in contrast to other EU member states which require at least 3 months of residency per year;
• The holder of a permanent residence permit has the right to own a business in Cyprus and receive dividends from it;

In order to obtain a permanent residence permit, you need to buy a primary residence costing 300,000 euros (excluding VAT). Under Cypriot law VAT is 19%, but if you buy your first property in Cyprus, the VAT is reduced to 5%.

It should also be noted here that the purchase of secondary housing does not give its owner the right to apply for permanent residency.