The Cyprus Permanent Residency Programme (PRP)
The Cyprus Permanent Residence Programme (PRP) provides successful applicants with permanent residence status in approximately two to eight months. This status is valid for life and can also be passed on to dependants. Successful applicants receive a Cyprus residence permit and the following benefits:
Cyprus PRP Benefits
- The right to reside, settle and stay indefinitely in Cyprus
- Use of embassies in Cyprus to apply for Schengen Visas
- Option to include spouse and qualifying dependent children.
- No language requirements
- Access to high quality educational institutions and medical facilities
- Minimal ongoing physical presence or residency requirements (not applicable to the temporary permit)
- Multiple personal and corporate tax benefits
- Eligibility to apply for Cyprus citizenship by naturalisationafter three, four or seven years
Qualification Requirements
To qualify for the Cyprus Permanent Residency Programme, applicants are required to:
- Provide evidence that the main applicant has invested the minimum requirement into a qualifying investment option.
- Demonstrate proof of a secure annual income of at least €50,000, which is increased by €15,000 p.a. for each spouse and child, and by €10,000 p.a. for each dependent parent.
- Submit a certificate of ‘no criminal record’ and of not being under investigation for criminal offences, that is attested by the relevant authorities of the applicant’s country of current residence.
- Hold private medical insurance
- Visit Cyprus at least once every two years to maintain their status.
Qualifying Investment Options
Applicants are required to make a minimum investment of €300,000 (plus VAT, if property-related) into one of the following investment options:
- Qualifying residential or commercial real estate
- A qualifying Cyprus Alternative Investment Fund (AIF)
- Shares in a Cypriot-based company employing a minimum of five local employees
All Inclusive Quotation
The total costs associated with applying for the Cyprus Permanent Residency Programme (PRP) are dependent on several factors including the type of residence selected, and the number of family members included within the application.
Please contact PCS to discuss and receive an all-inclusive quotation.