Updated September 2026: Schengen status and the corporate tax rate have been revised. The investment and income rules below remain those of the 2023 revision, which is still in force.

Cyprus has become a popular base for non-EU nationals who want long-term residence in Europe without fully relocating. Through the Permanent Residency by Investment program, applicants can obtain residence rights that do not expire, as long as the conditions continue to be met. The minimum qualifying investment is €300,000 plus VAT, and it can go into several types of assets.

Real estate is still the most common route, especially for families. Since the 2023 revision, applicants can also invest in commercial property, shares in a Cypriot company, or units in regulated funds. Cyprus is also working towards joining the Schengen Area, which would add travel benefits for residents once accession is approved.

Investment Criteria

To qualify, an applicant must invest at least €300,000 net in one of the following:

• Residential property: new housing bought directly from a developer.
• Commercial real estate: offices, shops or hotels, new or resale.
• Cyprus company shares: share capital in a Cyprus-registered company with a physical presence in Cyprus and at least five employees.
• Collective investment funds: units in Cyprus-based funds such as AIF, AIFLNP or RAIF.

Income Requirements (since May 2023)

• Main applicant: €50,000 per year from sources outside Cyprus.
• Spouse: an additional €15,000.
• Each dependent child: an additional €10,000.

Parents and parents-in-law no longer qualify as dependents. Holders must submit proof of income every year to keep the permit.

Conditions and Supporting Documents

• The holder cannot work as an employee in Cyprus, but may be a director and shareholder of a company.
• The holder must keep a home in Cyprus, owned or rented.
• The holder must visit Cyprus at least once every two years.
• Documents include a clean criminal record, a valid passport, family certificates, a CV, proof of income and source of funds, and health insurance for everyone included in the application.

Why Investors Choose This Program

• Permanent status: residence that does not expire, without the cost or complexity of a citizenship route.
• Flexibility: the investment can match the applicant’s plans, whether property, a business or a fund.
• Clear rules: the requirements are set out in advance and are simple to maintain.
• Tax planning: residency can be combined with Cyprus tax residency and the non-dom regime. Note that a residence permit does not by itself make someone tax resident. Cyprus companies pay 15% corporate tax from 2026. See our tax residency and non-dom guide.

Schengen: Where Things Stand

Cyprus is an EU member but not yet part of the Schengen Area. In July 2026 the European Commission adopted a positive assessment of Cyprus’s readiness to join. The final decision belongs to the Council of the European Union and needs a unanimous vote of the current Schengen members. No date has been set yet.

If accession is approved, Cyprus residence permit holders are expected to gain:

• Short-stay travel across the Schengen Area without separate visas.
• Easier travel for family, business and education.
• Closer links with the rest of Europe for work and investment.

Until then, a Cyprus residence permit does not allow visa-free travel to other Schengen countries.

Next Steps

The Cyprus Permanent Residency by Investment program remains one of the more practical residency routes in the European Union. If you are considering it, starting early gives you time to choose the right investment and prepare the documents properly.

Our team can help you pick the right investment route, assemble the paperwork and handle the application with care. Contact us to discuss your case.