Fast Track Residency in Cyprus: The Ultimate 2025 Guide for Investors
Cyprus is a prime destination for non-EU investors seeking residency in Europe through its Fast Track Residency program. The scheme allows third-country nationals and their families to obtain permanent residency in just two months by making a qualifying investment. This guide will walk you through the requirements, benefits, and application process to help you secure residency in Cyprus smoothly.
What is the Cyprus Fast Track Residency Program?
The Cyprus Fast Track Residency program, officially known as Regulation 6(2) of the Aliens and Immigration Regulations, is designed to attract foreign investors. By making a minimum investment of €300,000, applicants can secure permanent residency for themselves and their dependents.
Investment Criteria for Fast Track Residency
To ensure compliance, applicants must provide official documentation proving their investment. For real estate purchases, this includes the title deed or purchase agreement filed with the Cyprus Department of Land and Surveys. Additionally, proof of payment of at least €300,000 (excluding VAT) must be submitted, along with evidence that the funds originated from a foreign bank account.
Investments made through legal entities are permissible if the applicant and/or spouse are the sole shareholders, provided that the company is legally established in Cyprus or within the European Union or European Economic Area. Furthermore, applicants may purchase up to two residential units, provided their combined market value meets the required €300,000 threshold and they are from the same property developer. Only properties sold for the first time by developers qualify unless they were purchased before May 7, 2013.
For company investments, applicants must prove a €300,000 capital contribution, the company’s physical presence in Cyprus, and employment of at least five full-time employees. Supporting documents include shareholder certificates, company registration documents, proof of capital transfer, and Social Insurance confirmations for employees.
For investments in Cyprus Investment Funds, applicants must provide certificates of purchased shares, transaction proof (such as bank transfers), and approval from the Cyprus Securities and Exchange Commission (if applicable).
To qualify for the Fast Track Residency program, applicants must make an investment of at least €300,000 in one of the following categories:
- Real Estate Investment (Residential)
- Purchase of a new residential property (house or apartment) from a land development company.
- The property must be a first sale and valued at a minimum of €300,000 + VAT.
- Commercial Real Estate Investment
- Purchase of commercial properties such as offices, shops, hotels, or mixed-use developments.
- Resale properties are allowed.
- Investment in a Cyprus Company
- Investment of €300,000 in the share capital of a Cypriot company that has a physical presence in Cyprus.
- The company must employ at least five (5) local employees.
- Investment in a Cyprus Investment Fund
- Purchase of €300,000 worth of shares in an Alternative Investment Fund (AIF), Registered Alternative Investment Fund (RAIF), or other eligible investment schemes regulated in Cyprus.
Income Requirements
In addition to the investment, applicants must demonstrate sufficient financial means:
- Minimum annual income of €50,000.
- Additional €15,000 for a spouse and €10,000 per dependent child.
- Income can come from salaries, dividends, pensions, rental income, or interest from abroad.
- If investing in commercial property, company shares, or investment funds, part of the income may be generated within Cyprus.
Additional Qualifying Criteria
Applicants must also meet the following requirements:
- Clean Criminal Record
- Must provide a certificate from the country of origin and country of residence. The applicant and spouse must not pose any risk to public order or security.
- Health Insurance
- Required for all family members unless covered by the Cyprus General Healthcare System (GESY). The insurance must cover both inpatient and outpatient medical treatment.
- No Employment in Cyprus
- Applicants cannot work in Cyprus, except as directors of their own company. However, they may hold shares in Cypriot companies and receive dividends without it affecting their residency status.
- Proof of Residence in Cyprus
- If the investment is not in residential property, applicants must provide a rental or property purchase agreement for their residence in Cyprus. If the property purchased does not have enough bedrooms to accommodate all dependents, proof of additional accommodation must be provided.
Additionally, applicants who invest in commercial property, shares, or investment funds must demonstrate physical presence in Cyprus and provide documentation such as property ownership, rental agreements, or utility bills.
Applicants must also meet the following requirements:
- Clean Criminal Record
- Must provide a certificate from the country of origin and country of residence.
- Health Insurance
- Required for all family members unless covered by the Cyprus General Healthcare System (GESY).
- No Employment in Cyprus
- Applicants cannot work in Cyprus, except as directors of their own company.
- Proof of Residence in Cyprus
- If the investment is not in residential property, applicants must provide a rental or property purchase agreement for their residence in Cyprus.
Inclusion of Family Members
The residency permit covers:
- Spouse
- Children under 18
- Unmarried children aged 18-25, provided they are students and financially dependent
- Adult children (not financially dependent) can also apply if an additional investment of €300,000 per adult child is made.
Application Process
- Gather the necessary documents
- Investment proof (real estate contracts, company shares, or investment fund certificates).
- Bank transfer receipts confirming that the investment funds were transferred from abroad.
- Tax declarations or a certified audit from an independent accountant to confirm the applicant’s annual income.
- Health insurance covering both inpatient and outpatient care in Cyprus.
- Clear criminal record certificates from both the country of origin and residence.
- Rental or property ownership documents proving residence in Cyprus.
- A sworn declaration confirming that neither the applicant nor their spouse intends to be employed in Cyprus (except as company directors where applicable).
- Submit the application along with a processing fee of €500. Additional fees of €70 per family member are required for the Alien Registration Certificate.
- Application review process
- The Civil Registry and Migration Department processes applications within two months. If the application is rejected, the government will notify the applicant of the reasons, and they may have the opportunity to submit additional documentation or appeal the decision.
- Final Approval
- Approved applicants must visit Cyprus within one year to collect their residency permit. The residence permit is valid for 10 years* and must be renewed upon expiry.
* The Cyprus Permanent Residency Permit granted under the Fast Track Residency Program is valid for life, meaning that the right to reside in Cyprus does not expire. However, the physical permit card itself has an expiration period of 10 years and must be renewed upon expiry. This means that while the residency status remains valid indefinitely, applicants must replace their residency card every 10 years by submitting a renewal request. Failure to renew the permit card does not revoke residency but may cause administrative issues.
Key Benefits of Fast Track Residency in Cyprus
- Permanent Residency in Just 2 Months – One of the fastest residency programs in Europe.
- No Renewal Required – The permit is valid for life.
- Family Inclusion – Covers spouse and dependent children.
- No Physical Stay Requirement – No obligation to live in Cyprus.
- Pathway to Citizenship – Eligible for Cypriot citizenship after 7 years of residency.
- Tax Advantages – Cyprus offers a favorable tax regime, including Non-Domicile Tax Status for new residents.
Maintaining Residency Status
- The investment must be maintained; if sold, it must be replaced with an equivalent or higher-value asset, or residency will be revoked.
- Applicants must visit Cyprus at least once every two years to retain their status.
- A clean criminal record certificate must be resubmitted every three years.
- Health insurance is mandatory unless covered by the Cyprus General Healthcare System (GESY).
- If investing in a Cypriot company, it must continue to employ at least five local employees.
Why Choose Connor Legal?
At Connor Legal, we specialize in Cyprus immigration law and have extensive experience assisting clients with Fast Track Residency applications. Our services include:
- Legal consultation on investment options and real estate legal assistance
- Application preparation and submission
- Verification of compliance with residency regulations
- Tax planning advice for new residents
Start Your Cyprus Residency Application Today
If you are considering Fast Track Residency in Cyprus, contact Connor Legal for expert legal guidance and a seamless application process.
