To be eligible for this program, you must first purchase or rent property in Cyprus. It does not guarantee your application's approval. Higher financial commitments are more likely that the application will be approved by Cyprus’s Civil Registry and Migration Department. This requirement is typically fulfilled by property purchases above EUR150,000.
The property must be purchased for residential use only. It cannot be rented out.
A minimum annual income of EUR10,000 from non-Cypriot sources is required. This includes EUR5,000 for each dependent. Additional payment may be required at your discretion by the Civil Registry and Migration Department.
The program does not allow permanent residence. However, you may be able to own a Cypriot firm and receive dividends.
To keep permanent residency, you need to visit the country at a minimum of once every two year. Your permit may be revoked if this happens.
You could be eligible for citizenship if you have seven years' legal residency. You may need to prove that there are ties to the country (e.g. a place of abode) and that you were a Cypriot tax resident.