- The Purchase Price must be at least 300,000 Euro (not including VAT) sold for the first time.
- At least 200,000 Euro (not including VAT) should be paid to the Vendor.
- Proofs of transfer of 200,000 Euro (not including VAT) from abroad must be provided.
- The applicant should also have a deposit of €30.000 pledged in a bank account in Cyprus for 3 years.
- The applicant should prove that has at disposal a secure annual income of at least €30.000.
In addition to making a financial investment applicants must also meet the following criteria/supply the following documents:
Official Statements by the applicant and his/her spouse that they do not intent to undertake any sort of employment in Cyprus.
Marriage certificate (if applicable)
Police clearance certificate from country of origin
Children’s Birth certificates
Health Insurance Policy for the applicant and his/her dependents
Applicant must gather all necessary papers required for application. The documents must be officially translated into Greek or English and certified with apostille (if in a country which has signed the Hague Convention of 1961) or stamped by the Ministry of Foreign Affairs and relevant Cyprus Embassy.
Selected property/ies (through visit to Cyprus or via correspondence). Sign purchase agreement and transfer funds to a secure account. Receipt issued by developer, which is required for application.
Payment of submission fee €500 for the applicant.
Application lodged, together with the property purchase agreement and all required documents, at the Civil Registry and Migration Department (CRMD).
Fast Track Residence Permit form CRMD within a 3 month period.
Applicants must visit Cyprus after receiving approval to provide authorities with their Biometric Data and to collect their Residence Permit Cards.