Cyprus Visa: New criteria for the submission of permanent residency under regulation 6(2)

Cyprus Visa: New criteria for the submission of permanent residency

The Cypriot Government, in an attempt to attract foreign investment to the island and to help further economic growth, introduced Regulation 6(2) of the Aliens and Immigration Regulations which gave non-EU nationals, who invested in Cyprus, the right to permanently reside on the Island, provided certain criteria were met.

In order to address some weaknesses in the system,  these criteria have been amended and will take effect on May 2, 2023, the aim being to protect the integrity of the system, thereby safeguarding their continuity and securing the country’s reputation.


The applicant must make an investment of at least €300,000 in one of the following categories:

  • *House/apartment: Purchase of a house/apartment sold for the first time by land development company with the value of €300,000 +VAT
  • *Real estate (excluding houses/apartments): Purchase of another form of real estate such as offices, shops, hotels or similar developments, or a combination of these, with a total value of €300,000.
  • *Share capital of a Cypriot company with activities and personnel in Cyprus.
  • *Shares of a Cyprus Investment Organization for Collective Investments (type AIF, AIFLNP, RAIF)

While the investment amount remains the same some of the most important amendments is that the income requirement has been increased and must be proven by tax declarations and it is no longer possible for parents and parents in law of the main applicant to apply. The applicant should prove that he has at his disposal a secure annual income emanating from abroad of at least €50,000. The annual income is increased by €15,000 for a dependent spouse and €10,000 for each dependent minor child. The applicant needs to provide proof on a yearly basis that the criteria continue to be met.


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