The Republic of Cyprus abolished its citizenship-by-investment programme in November 2020. The scheme that granted an EU passport for a EUR 2 million investment no longer exists and is not coming back. Any agency still advertising “Cyprus citizenship by investment” is selling something that was terminated more than five years ago.
We keep this page’s title because it is what people search for, but we would rather correct the premise than profit from it. What Cyprus offers now is permanent residency by investment at EUR 300,000 — and, importantly, that is a genuinely strong product in its own right. It is granted by an EU member state, it is permanent rather than renewable, it is decided in roughly two months, and it can lead to citizenship by naturalisation after several years of actual residence. It is simply not a passport you can buy.
| Feature | Detail |
|---|---|
| Investment | EUR 300,000 minimum, plus VAT where it applies |
| Legal basis | Regulation 6(2) of the Aliens and Immigration Regulations — the “fast track” route |
| Required income | EUR 50,000 a year from abroad, plus EUR 15,000 for a spouse and EUR 10,000 per dependent child |
| Status granted | Permanent residency — it does not expire |
| Card renewal | Every 10 years (the card, not the status) |
| Absence rule | Must not be absent from Cyprus for more than two consecutive years |
| Employment in Cyprus | Not permitted — you may own and draw dividends from a Cyprus company |
| Timeline | Roughly two months to decision on a complete file |
| Family | Spouse and dependent children |
Compare that with the alternatives and the picture is clear: this is the only route in our portfolio that puts you inside the European Union. Our companion guide, Southern Cyprus residency by investment, walks through the application itself, and the Cyprus residence permit covers the other permit categories.
This is the part that gets skated over, and in our experience it is where applications actually fail. You must demonstrate secured annual income of at least EUR 50,000, generated outside Cyprus, rising by EUR 15,000 for a spouse and EUR 10,000 for each dependent child. A couple with two children therefore needs to show roughly EUR 85,000 a year.
Three details matter. The income must come from abroad — pensions, dividends, rents, salaries, business profits earned outside Cyprus all count; Cypriot employment income does not, because you are not permitted to work locally. It must be evidenced afresh each year, not just at application. And the criteria were tightened in 2023, so older guidance quoting lower figures describes a regime that no longer applies.
Our blunt advice: establish that you clear the income test before you shortlist a single property. We have seen buyers fall in love with a villa, exchange contracts and only then discover the income requirement is the binding constraint. It is a five-minute conversation that should happen first.
| Option | What qualifies |
|---|---|
| New residential property | Bought from a developer — the most common route by a wide margin. Resale homes do not qualify under this option. |
| Non-residential real estate | Offices, shops, hotels — and these may be resale, unlike residential |
| Shares in a Cyprus company | The company must have real physical presence in Cyprus and employ at least five people |
| Cyprus investment funds | Units in AIF, AIFLNP or RAIF vehicles registered in Cyprus |
The residential-versus-resale distinction catches people out constantly. A beautiful EUR 400,000 resale villa does not qualify for the residency route, even though the same money in a new-build from a developer would. If residency is the objective, that single rule narrows the market substantially — and it is the main reason our Cyprus stock is weighted toward new developments. Our guide to buying resale property in Cyprus covers the second-hand market for buyers to whom residency does not matter.
We represent thirty-five developments in the Republic of Cyprus, priced in euros. Below are entry prices tested against the EUR 300,000 threshold. Entry price is the cheapest unit in the project; larger units in the same development go considerably higher.
| Project | Area | From | Size (m²) |
|---|---|---|---|
| Emerald Plots | Nicosia | EUR 169,000 | 520–697 |
| Blue Lagoon | Paphos | EUR 195,000 | 102–124 |
| Petunia | Paphos | EUR 220,000 | 152–189 |
| Kronos Court | Paphos | EUR 230,000 | 100–267 |
| Mare Residences | Paphos | EUR 230,000 | 158–212 |
| Goldrose Seaview | Paphos | EUR 252,000 | 147–236 |
| Melanie Residences | Paphos | EUR 260,000 | 115 |
Note on Emerald Plots: these are building plots, not built residences. Land generally does not satisfy the “new residential property” test on its own, so treat that row as an investment listing rather than a residency route.
| Project | Area | From | Up to | Size (m²) |
|---|---|---|---|---|
| Ethereum Village | Paphos | EUR 300,000 | EUR 370,000 | 123–179 |
| Raffaello Residences | Paphos | EUR 305,000 | EUR 490,000 | 108–206 |
| Golden Sun Residences | Paphos | EUR 335,000 | EUR 395,000 | 141–171 |
| Markos Residences | Venus Rock | EUR 359,000 | EUR 680,000 | 121–234 |
| Sangria Hills | Limassol | EUR 379,000 | EUR 476,000 | 140–166 |
| Pearl Residences | Paphos | EUR 380,000 | EUR 440,000 | 112–156 |
| Rosetta Heights | Peyia | EUR 480,000 | — | 143–174 |
| Oasis Villas | Polis | EUR 494,000 | EUR 695,000 | 147–289 |
| Amber View | Paphos | EUR 530,000 | EUR 740,000 | 160–297 |
| Bellerophon Villas | Paphos | EUR 585,000 | EUR 3,650,000 | 171–590 |
| Aquamare Villas | Paphos | EUR 695,000 | EUR 1,125,000 | 407–632 |
| Breeze Hills | Peyia | EUR 706,000 | EUR 1,864,000 | 200–532 |
| King Residences | Venus Rock | EUR 1,583,000 | EUR 2,761,500 | 294–760 |
| Paradise Beachfront Villas | Polis | EUR 1,850,000 | EUR 3,400,000 | 541–799 |
| Villa Paradise | Peyia | EUR 4,830,000 | — | 1,299 |
Twenty-eight of our thirty-five Cyprus developments clear EUR 300,000 at their entry price, so unlike Türkiye or Dubai the threshold is not the binding constraint here — the income test is. Note also that Ethereum Village starts at exactly EUR 300,000, which brings us to the single most expensive mistake you can make on this route.
The qualifying investment is EUR 300,000 plus VAT. VAT is not part of the threshold — it sits on top of it. So a property advertised at “EUR 300,000” only qualifies if that figure is the price excluding VAT. If it is VAT-inclusive at the standard 19% rate, the underlying investment is about EUR 252,000 and the application fails.
The rate itself is the second trap:
| VAT rate | When it applies | On EUR 300,000 |
|---|---|---|
| 19% standard | New-build that is not your primary residence — which describes most residency-route purchases | EUR 57,000 |
| 5% reduced | First 130 m² of a genuine primary residence, price up to EUR 350,000 and total transaction up to EUR 475,000, under Law 42(I)/2023 | EUR 15,000 |
That is a EUR 42,000 difference on the same headline price, and it turns on whether the property is genuinely your primary residence. Many permanent-residency applicants — particularly those who will not live in Cyprus full time — will pay the 19%. Budget for it from the start rather than discovering it at completion, and read the reduced VAT rules on primary residences before assuming you qualify for 5%.
| Cost | Rate | Notes |
|---|---|---|
| VAT | 19% or 5% | The dominant cost on a new build. See above. |
| Property transfer fees | 3% / 5% / 8% progressive | Not charged at all if VAT has been paid — so on a new build you generally pay one or the other, not both. On resale where no VAT applies, a 50% reduction is available. |
| Stamp duty | Abolished | No longer applicable from 1 January 2026 — a genuine saving, and one most older guides still get wrong |
| Legal fees | ~1–2% | Independent Cypriot lawyer. Essential, and separate from the developer. |
| Land Registry & registration | Modest | Contract deposition and title registration |
| Annual immovable property tax | None | Abolished in 2017 |
Realistically, budget 4% to 7% above the price in acquisition costs on top of VAT. The transfer-fee-versus-VAT interaction is the point worth internalising: on a new build with VAT paid, transfer fees fall away entirely, which materially changes the comparison between new and resale. Depositing your contract of sale at the Land Registry is the protection that matters most — see title now obtainable in three months and the ministry’s title assistance programme.
Cyprus has been a European Union member state since 2004. That is the fundamental attraction of this route and it is not in question. What is frequently misrepresented is the Schengen position.
Cyprus is not yet in the Schengen Area. A Cyprus residence permit does not, today, give you free movement across Schengen the way a permit from Spain or Portugal does. That is changing: Cyprus gained access to the Schengen Information System in 2023, and on 14 August 2026 the European Commission formally adopted a positive assessment of Cypriot readiness, with presentation to the EU Council scheduled for September 2026, where Schengen members vote unanimously on accession.
So the accurate position for a buyer today is: Cyprus is an EU member whose Schengen accession is at the final stage but not complete. If your plan depends on Schengen mobility, that is a reason to watch the September vote closely rather than to assume the benefit already exists. Anyone telling you a Cyprus permit gives Schengen freedom of movement right now is ahead of the facts.
Permanent residency is not citizenship, but it is a step toward it. Naturalisation in Cyprus requires several years of genuine, physical residence — commonly cited as seven to eight years of lawful residence within the qualifying period — together with language and integration requirements. It is a real path, and it produces an EU passport at the end of it. It is also a decade-long commitment that requires you to actually live there, which is a very different proposition from the abolished investment programme.
If you want the current requirements in detail, see Cyprus citizenship requirements and how to obtain citizenship in Cyprus. The history of the programme’s suspension is covered in Cyprus suspends passport applications.
Our Cyprus portfolio is heavily weighted to the west of the island, and that reflects where the residency-route product actually is.
Paphos is the centre of gravity — a UNESCO-listed harbour town with the deepest supply of new-build developer stock, an established international community, and the widest spread of prices, from EUR 195,000 apartments to villas above EUR 1 million. Peyia and the Sea Caves coast just north of it are the villa belt: larger plots, sea views and prices to match. Polis and the Akamas edge are quieter and greener, favoured by buyers who want space rather than amenities. Venus Rock is a large master-planned golf and coastal resort development between Paphos and Limassol.
Limassol is the commercial capital, the most urban and the most expensive per square metre, with the strongest year-round rental market and the largest professional tenant base. Nicosia is the administrative capital, inland, and behaves as a domestic rather than international market. Golf-led product is covered in Cyprus golf resorts and real estate, and everything we hold sits under Southern Cyprus.
Rather than describe the island in the abstract, here is where our stock actually sits, with our current entry price in each area — the quickest way to calibrate a budget.
| Region | Character | Our entry price | Clears EUR 300,000? |
|---|---|---|---|
| Paphos | The core of our portfolio — UNESCO harbour town, deepest new-build supply, widest price range | from EUR 195,000 | At entry, no; most of our Paphos stock does |
| Venus Rock | Master-planned golf and coastal resort between Paphos and Limassol | from EUR 359,000 | Yes |
| Limassol | Commercial capital; most urban, strongest year-round rental market, highest price per m² | from EUR 379,000 | Yes |
| Peyia | The villa belt above the Sea Caves coast — larger plots, sea views | from EUR 480,000 | Yes |
| Polis | Quiet, green, on the Akamas edge; space over amenities | from EUR 494,000 | Yes |
| Nicosia | Inland administrative capital; a domestic rather than international market | from EUR 169,000 (plots) | Land — not a residency route on its own |
Two things stand out. Paphos and its surrounding villages account for the large majority of our Cyprus stock, which is not an accident — it is where the developer-built, residency-qualifying product is concentrated. And every region except Paphos and Nicosia clears the threshold at its entry price, so in practice the choice of region is driven by lifestyle and rental strategy rather than by qualification.
Because the status is permanent and granted by an EU member state, it delivers rather more than a right to be present:
That last point is underrated. Cyprus inherited a common-law system and English is widely used in professional and commercial life, which makes the buying process markedly less opaque than in several other Mediterranean jurisdictions.
Cyprus combines EU membership with a tax system that is unusually favourable by European standards: no annual immovable property tax, a corporate rate that has long been among the lowest in the EU, an extensive treaty network, and a non-domicile regime that exempts qualifying new residents from tax on dividend and interest income for a long fixed period. This is the reason a great many people who could live anywhere in Europe choose Cyprus specifically.
Two cautions. Tax residency is a separate question from immigration status — it turns on days present and personal circumstances, not on holding a residence card, and the permanent residency route does not by itself make you tax-resident. And the non-dom rules have conditions worth checking against your own position before you rely on them. Start with tax residency in Cyprus and take advice in your home jurisdiction as well.
| Stage | What happens | Typical timing |
|---|---|---|
| 1. Income check first | We confirm you clear the EUR 50,000+ income test before anything else. This is deliberately step one. | Same week |
| 2. Shortlist | New-build developer stock at or above EUR 300,000 excluding VAT, matched to your use case | 1–2 weeks |
| 3. Independent legal review | Your own Cypriot lawyer checks title, encumbrances, planning and the contract | 1–2 weeks |
| 4. Contract and deposition | Contract signed and deposited at the Land Registry — your key protection | Days |
| 5. Payment and VAT | Funds transferred from abroad through a Cyprus bank account; VAT settled at the applicable rate | Weeks |
| 6. Residency application | Filed under Regulation 6(2) with proof of investment, income, insurance and clean record | ~2 months to decision |
Mortgage finance is available and the government has at times subsidised interest for certain buyers — see mortgage interest subsidies. Most residency-route buyers, however, pay cash or use developer stage payments, because financing complicates the proof-of-investment evidence.
Cyprus rental demand is real: a large international student population, a substantial services and shipping sector concentrated in Limassol, and a long tourist season along the west and south coasts. Short-term letting has grown quickly — see short-term rentals as an investment trend and how they are outgrowing hotels — though it is regulated and requires registration, which our Airbnb compliance guide sets out.
Now the counterweight. Gross yields in Cyprus are generally lower than in Türkiye or Dubai — you are buying into a mature, euro-denominated EU market, and it prices like one. The upside is stability and a currency that does not erode your capital; the trade-off is that nobody should expect Gulf-style returns. Supply is also building: a large number of apartment buildings have been completing across the island, concentrated in the same coastal districts where the residency-route product sits. And the island’s political division remains unresolved, which is a background risk that has not stopped the market functioning for fifty years but should not be edited out of an honest assessment either. Our market reading is in Cyprus market statistics, where prices are heading and whether housing is still cheaper than 2010.
| Destination | Threshold | What you get | EU? |
|---|---|---|---|
| Republic of Cyprus | EUR 300,000 + income test | Permanent residency; naturalisation possible after years of residence | Yes |
| Türkiye | USD 400,000 | Citizenship and passport in 3–6 months | No |
| UAE / Dubai | AED 2,000,000 (~USD 544,700) | 10-year renewable residency, no minimum stay | No |
| Northern Cyprus | No minimum | Renewable residence permit | No — recognised only by Türkiye |
The distinction that matters is in the final column. Cyprus is the only EU option here, and its residency is permanent rather than renewable, which no other entry on this list offers. Against that, Türkiye delivers an actual passport for less money and in months, and Dubai offers a better pure-residency product with no income test and no stay requirement. If you want Europe, Cyprus is the answer on this list. If you want a passport quickly, it is not.
The comparison with the north of the island is a particularly common question, and the answer is not close on legal security: see our Northern Cyprus guide, which sets out the title-deed and criminal-exposure issues that simply do not arise in the Republic.
The Europe-focused family. If the objective is an EU base — schooling, healthcare, a permanent status that does not need renewing, and a realistic long-run path to an EU passport — Cyprus is the strongest option we cover. The income test is the gate; clear it and the rest is straightforward.
The retiree or passive-income household. This route was practically designed for you: income from abroad is exactly what the rules require, employment in Cyprus is prohibited anyway, and the non-dom regime treats investment income favourably. A EUR 300,000–400,000 new build in Paphos with a pension behind it is the archetypal successful application.
The yield investor. Be clear-eyed. Cyprus is a stable euro market with moderate yields, not a high-return play. If income is the objective and residency is incidental, Dubai will very likely out-earn it. If capital security in a hard currency inside the EU is the objective, Cyprus is exactly right.
No. The citizenship-by-investment programme was abolished in November 2020. What exists now is permanent residency by investment at EUR 300,000, with citizenship available only through naturalisation after years of actual residence.
EUR 300,000 minimum, plus VAT, in new residential property from a developer — or in qualifying commercial property, Cyprus company shares, or Cyprus investment funds.
At least EUR 50,000 a year from outside Cyprus, plus EUR 15,000 for a spouse and EUR 10,000 per dependent child, evidenced each year.
No. Permanent residency does not expire. The card is renewed every ten years, and you must not be absent from Cyprus for more than two consecutive years.
Not as an employee. You may own a Cyprus company and receive dividends from it, which is how many permanent residents structure their affairs.
Not yet. Cyprus is an EU member but not currently a Schengen member. The Commission adopted a positive readiness assessment in August 2026 and the Council vote is expected in September 2026.
You can buy one, but a resale residential property does not qualify for the residency route. Resale commercial property does.
Roughly two months to a decision on a complete file — one of the faster residency programmes in the European Union.
UInvest Group represents thirty-five developments across Paphos, Peyia, Polis, Venus Rock, Limassol and Nicosia, from EUR 169,000 to EUR 4.8 million. Before we show you a single property we will check that you clear the income test, tell you which VAT rate applies to your situation, and confirm whether a given development qualifies for the residency route at all. That order of operations is the difference between a smooth application and an expensive surprise.
