In short: a citizen of a country outside the EU who buys a new home in Cyprus from a developer for at least €300,000 plus VAT, and has a secure income from abroad of at least €50,000 a year, can apply for a permanent residence permit for the whole family under the fast-track procedure, Regulation 6(2). The permit does not give the right to work in Cyprus and lapses after two years' absence from the island.
Checked on 23 October 2026 against the criteria of the Migration Department (4th revision, in force since 2 May 2023). The Migration Department decides each application; this guide is general information.
The investment
- At least €300,000 plus VAT in a house or apartment bought from a development company, as a first sale. Resale homes do not qualify for this route.
- The money must be transferred to Cyprus from abroad, from your or your spouse's bank account, and paid to the seller's account at a Cyprus bank.
- The sale contract must be deposited at the Department of Lands and Surveys (see buying property in Cyprus as a foreigner), and you submit receipts for the payments with the application.
The rules also allow other investment categories, such as commercial property or shares in a Cyprus company; this guide covers the home route.
Income
You must show a secure annual income of at least €50,000, plus €15,000 for your spouse and €10,000 for each dependent minor child. The income must come from abroad — salary, pension, dividends, deposit interest or rent — and is shown with a foreign tax return or an accountant's certificate.
Family
The application covers the applicant, the spouse and dependent minor children. You also need clean criminal record certificates from your country of origin and of residence, and health insurance covering inpatient and outpatient care.
Application and fees
You apply to the Migration Department in person or through an authorised representative. The application fee is €500, plus €70 per person for the Alien Registration Certificate.
Keeping the permit
- Keep the property: the permit depends on the investment being maintained.
- Visit Cyprus at least once every two years: the permit lapses after two years' absence, or if you take permanent residence in another country.
- The permit does not allow employment in Cyprus. You may own shares in Cyprus companies, receive dividends and be an unpaid director.
Choosing a property that qualifies
Look for a new build from a developer priced at €300,000 or more before VAT. Our catalogue has such projects in Limassol, Paphos, Larnaca, Nicosia and Ayia Napa and Protaras. VAT on a purchase at this price is usually 19% on most of the value; see Cyprus property taxes. The purchase can be funded from crypto converted by an authorised provider, provided the funds reach Cyprus from abroad as the rules require — see buying with crypto.