If you want to obtain a residence permit in Cyprus and are ready to invest in the economy of the state, you can apply for a permanent residence permit (Category F) in the standard procedure. So you can get permanent residence in 1 year.
To be eligible to participate, you must purchase or rent property in Cyprus. The higher the financial commitment, the more likely it will be positively reviewed by the Cyprus Civil Registry and Migration Department. Typically, this requirement is met by real estate valued at 150,000 euros.
The property purchased must be intended for living and cannot be rented out.
In addition, you must have an annual income derived from non-Cypriot sources of at least € 10,000 plus € 5,000 for each dependent. Additional income may be required at the discretion of the Civil Registry and Migration Department.
If you receive a residence permit under this program, you will not be allowed to work in Cyprus, but you can be the owner of a Cyprus company and receive dividends.
To maintain a residence permit, you must visit the country at least once every two years. Otherwise, your permission may be revoked.
After 7 years of legal residence, you may be eligible for citizenship. You may be required to prove certain ties to the country, such as residence and tax resident status in Cyprus.
The above is for informative purposes only. Further professional advice should be sought for each particular case. Our firm does not accept any responsibility for any loss or damage occurring by acting on the basis of this information.