Cyprus Residency Options for Non-EU Citizens

Dixcart has over 50 years of experience in assisting and advising individuals with their residency applications. It is important to note that each option has varying advantages and requirements, so it is critical for us to understand which option will be best suited for you.

As a non-EU national, there are four main options for obtaining residency, as outlined below:

1. Permanent Residence through Investment
2. Establishment of a Foreign Interest Company
3. Permanent Residency Programme (PRP) – ‘Slow Track’
4. Temporary / Retirement / Self-Sufficiency Residence Permit

To help you understand the options, we have broken down the detail of each option below.

While this overview provides a practical summary of the main residency routes available, each option comes with specific criteria and considerations. For a more detailed breakdown of the requirements, including investment thresholds and eligibility conditions, please see our more detailed guide: Several Routes for Non-EU Citizens to Gain Residence in Cyprus – Dixcart.

If you would like to see how these options apply in practice, our client case study demonstrates how different residency routes can be used depending on individual circumstances.

Permanent Residence through Investment

If you wish to use the residency by investment route, then you will be required to make an investment of €300,000 + VAT. There are several investment options to consider, the most common of which is residential real estate.

In order to be eligible for this option you must meet the following criteria:

• Be over 18 years old
• Have no criminal record or prosecution, restrictions or bans on entry to the EU and the UK
• Not be under sanctions
• Maintain an income of €50,000 per year for the main applicant (plus €15,000 for a spouse and €10,000 for any additional children)
• Own or rent accommodation (applicable for those not investing in residential real estate)
• Provide a medical report
• Obtain medical insurance

It is important to note that this immigration permit does not allow the applicant and their spouse the right to work. As a result, they are not able to undertake any form of employment in Cyprus. However, they are permitted to own Cyprus companies, act as directors, and receive dividends.

The applicant and their spouse must certify that they do not intend to be employed in the Republic of Cyprus with the exception of being Directors of a Cyprus company.

If you are successful in your application, then permanent residency is issued for life. After 5 years of living in the Republic of Cyprus, the holder of a permanent residency can apply for a passport (subject to conditions) and become a citizen of the EU.

Establishment of a Foreign Interest Company

A Foreign Interest Company is an international company, which, subject to meeting specific criteria, can employ non-EU national employees in Cyprus. This route enables key employees and their families to gain residence and work permits under favourable terms.

It also allows the owners of the company to apply for a work permit and residency through the company. This means that they will have the right to live and work in Cyprus and can bring their employees with them. Their family members are also allowed to apply to live in Cyprus.

All parties also benefit from both the individual tax rate savings and the corporate tax savings available in Cyprus, including the non-Domicile status.