Cyprus Citizenship through Permanent Residence (PR)


If you have Cypriot heritage in your family tree you might be on the right pathway to obtain the Cyprus passport.

Individuals born to at least one Cypriot parent automatically acquire citizenship at birth only if neither parent is considered an illegal immigrant. Birth in Cyprus by itself does not necessarily make a child eligible for citizenship. Foreign nationals may, however, become Cypriot citizens by naturalisation after completing a residence requirement (usually seven years).

So, does Cyprus have any ways to shorten the citizenship timeline?

The good news is that you can apply for Cyprus citizenship after only five years of residency via the Cyprus Residency by Investment Program. This is different from the previous Citizenship by Investment Program (which was abolished in November 2020).

Buying a home in Cyprus is becoming a popular option for third country nationals seeking EU residency. By virtue of Regulation 6(2), the Cypriot government has provided the option to obtain a Permanent Residency Permit to non-EU citizens seeking to invest in Cyprus.

The minimum eligibility requirements are as follows:

  • The applicant must acquire a new residential Property in Cyprus worth a minimum of €300,000 (excluding VAT). The first €200,000 must be paid by the date of filing of the application. Additionally, the purchase must be a ‘first-time’ sale, meaning that the Property is to be bought for the first time from a property development company. As per the changes approved (last week), the applicant will be required to provide, on an annual basis, evidence proving that he still maintains the initial investment.
  • The applicant must open and maintain a fixed deposit in a Cyprus bank of at least €30,000 for three consecutive years.
  • The applicant must maintain a secured annual income originating from outside of Cyprus of at least €30,000. Such funds must be increased by €5,000 for each dependent, and €8,000 for each parent included in the application. According to the new announcement of last week, this has changed and now the increase of the required annual secure income of the main Applicant is €50,000 instead of €30,000, and for each minor child €10,000 instead of €5,000, and for the spouse €15,000. The PR holder will now also have to prove, on an annual basis, that he continues to receive the required income determined for him/her and his/her family.
  • The applicant will need to undergo a ‘Fit and Proper’ test.  In order to comply with the due diligence procedures, he/she will need to show a clean criminal record certificate.
  • The applicant will need to visit Cyprus once within the first year to register biometrics, and visit Cyprus at least once every two years thereafter.

The content of this article is valid as at the date of its first publication. It is intended to provide a general guide to the subject matter and does not constitute legal advice. We recommend that you seek professional advice on your specific matter before acting on any information provided. For further information or advice, please contact Savvas Savvides, Partner at Michael Kyprianou & Co LLC, at telephone +357-26930800 or via email savvas.savvides@kyprianou.com