Cyprus Permanent Residence Permit Under Regulation 6(2)

Cyprus Permanent Residence Permit under Regulation 6(2)

Cyprus grants PRPs to third-country nationals meeting specified investment criteria. This permit allows non-EU individuals and their families to establish permanent residency in Cyprus without pursuing employment, provided they have stable annual income and comply with legal requirements. The PRP offers an expedited pathway and suits investors, retirees, and those seeking access to Europe.

Investment Criteria

Applicants must invest at least €300,000 in one of the following:

1.      Housing : Purchase a first-sale property (house/apartment) worth €300,000+VAT.
2.      Real Estate : Buy offices, shops, or other property totaling €300,000 (resales allowed).
3.      Cyprus Companies : Invest €300,000 in a Cyprus-based company employing at least 5 people.
4.      Collective Investments : Invest €300,000 in units like AIF, AIFLNP, or RAIF funds.

Additionally, applicants must prove a secure annual income of at least €50,000 (increased by €15,000 for spouses and €10,000 per child), sourced from abroad or locally if they are Cyprus tax residents.

Quality Criteria

1. Provide clean criminal record certificates.
2. Have valid health insurance.
3. Applicants and dependents must not pursue employment in Cyprus, except as directors of companies they invest in.

Dependents

PRPs cover the applicant’s spouse, children under 18, and unmarried dependent children (18–25) enrolled in education. Non-dependent adult children require higher investments.

Document Requirements

Certified and apostilled original documents from the applicant’s jurisdiction.
Documents must be in Greek or English, or accompanied by certified translations.

Validity & Maintenance

PRPs have unlimited validity but require renewal every 10 years. Dependents’ PRPs are valid until age 18, after which they may apply separately. Holders must maintain the investment, income, and health insurance and provide evidence annually.