Why would you want a residency visa to a country in the EU? From sun-soaked beaches to frosty mountain tops and bustling cities, Europe offers a truly
Your guide to moving to Cyprus. Cyprus visas, Cyprus citizenship and residency by investment.
Why move to Cyprus?
Cyprus citizenship is highly sought after. This EU country is a major tourist destination in the Mediterranean. It is not just perfect for a relaxing holiday. Expats looking to live close to the best beaches in Europe and aspire a sunlit lifestyle don’t have to search anymore: Cyprus is the place.
Cyprus is one island and an independent nation, but there are still two ‘countries’ to choose from when you want to call the island your new home. In spite of the fact that there is a dispute over the exact governance of Cyprus, it is a stable European Union democracy with an extremely low crime rate and is one of the safest places in the world. The island is child-friendly and has great education options. It only rains 40 days out of the year and it’s sunny on more than 300 days. The Cypriot economy is growing and unemployment numbers are dropping. Tourism is very important to the island; nearly 3 million people visit the island every year.
Locals speak a mix of Turkish and Greek but almost everybody speaks English too, which is convenient for Expats from all over the world. Perhaps this is why there is a large Expat community on the island and plenty of opportunities to meet new people. Taxes in Cyprus are low, finding a house is easy and rent is cheap compared to most places in Europe.
Cyprus Visas and Permits
Citizens of the EU and the European Economic Area (EEA) can move, live and work freely in Cyprus. For those with other passports, here are some options:
Income Based Visa
If you can prove that you have an income to support yourself in Cyprus then you could be eligible for residency. This income could be from passive income sources such as investments and rental income. It would also be from work outside of Cyprus. The current requirement is to prove and income of approximately €9568,17 (CY£5,600) for a single applicant and at least €4613,22 (CY£2,700) for every dependent person.
Here is the official website on the Cyprus residency visa for further details
The “Cyprus Startup Visa” program/ scheme allows talented entrepreneurs from third countries [outside the European Union (EU) and outside the European Economic Area (EEA)], individuals or in a team, to enter, reside and work in Cyprus in order to establish/operate/develop a startup with a high growth potential.
Cyprus Tourist Visa
Cyprus issues a tourist visa for up to 90 days. It is generally issued as a multi-entry visa allowing you to come and go from Cyprus over a period of 6 months. However, your total stays must not exceed 90 days.
To find out if you need a tourist visa to visit Cyprus, please use the VisaHQ tool below.
If your spouse is a citizen or permanent resident of Cyprus, you are probably eligible for residency. Please note that your status of spouse needs to be legally recognised in this country.
See the citizenship section below for more information on residency or citizenship based on descent.
Youth Mobility Visa
If you are an Australian Citizen between the ages of 18-25, you may be eligible under the Working Holiday programme.
A passport from Cyprus is highly valued. We rank it as one of the most powerful passports in the world allowing its owners to travel to more than 140 countries visa-free. Of course, along with the passport comes membership to the European Union and the ability to travel and live freely in its 28 countries.
Cyprus Citizenship through your family
- If your mother was a citizen of Cyprus when you were born and you were born after the 11th June 1999 you are probably also a citizen of Cyprus.
- If your father was a citizen of Cyprus when you were born, you are probably also a citizen of Cyprus.
- If your spouse is a citizen and you have been married for longer than 3 years, you can apply for citizenship after being resident in Cyprus for a period of 2 years. Please note that your status of spouse needs to be legally recognised in this country.
- After having legally resided in Cyprus for seven years, a person may apply for citizenship by naturalization.
Please have a look at the next tab for the Cyprus Citizenship by investment options.
Cyprus Residency by Investment
If European Residency by Investment is what you are after, then Cyprus is a fantastic option. To be eligible you need to purchase property for €300,000 or more and transfer €30,000 into a local bank account. This is one of the lowest requirements for residency in Europe. The process is very straightforward and fast (permits take approximately 1 month to process) and it can all be arranged from your home country. Once you have the permit, you only need to visit Cyprus for a day every two years to keep your residency.
The benefits of a residency permit in Cyprus is:
- The freedom to live in a beautiful part of the world
- Visa-free travel within the SCHENGEN region
- Permanent residency for yourself, your spouse and dependents up to the age of 25
- Permanent residency forever – there is no need to renew the permits.
- The ability to apply for citizenship of Cyprus and the EU after 7 years of residence or after 5 years if you have Cypriot children
Cyprus Citizenship by Investment
The Cyprus Citizenship by Investment Programme has one of the highest investment requirements at €2 million. However, the huge advantage over other programmes is that there are no donations or contributions required. Your €2 million can be invested to provide you with income as well as capital gains. The following are eligible investments:
- One or more properties or plots of land
- Investments in Cypriot companies or organisations operating in Cyprus or
- Funds established in Cyprus
- Government bonds (no more than € 500,000); or
- Establishment, purchase, or investment in a company operating in Cyprus and having at least 5 Cyprus citizens on the staff.
You can apply for an Investment Residency permit if you meet the following criteria:
- Transfer at least €30,000 into a financial institution in Cyprus from an overseas account, which will be pledged for a period of at least three years.
- Prove that you have a secure annual income of at least €30,000 from overseas sources. For each dependent, the annual income increases by €5,000 and for each dependent parent or parent-in-law it increases by €10,000
- Purchase real estate to the value of €300,000
If you are an Expat who has lived and worked in Cyprus we’d love to hear your story of immigrating to Cyprus. Contact us to share your experience of Cyprus visas, residency, and citizenship here.
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