It is the third largest island in the Mediterranean and a full member of the European Union, with an open, free-market, service-based economy.
Situated at the north-eastern end of the Mediterranean basin, Cyprus is the third largest island in the region, with an area of 9,251 km². The Republic of Cyprus is a democracy with a presidential system of government, and a full member of the European Union with an open, free-market, service-based economy.
Internationally, Cyprus promotes its geographical location as a “bridge” between East and West, along with its educated, English-speaking population, moderate local costs, good airline connections, and telecommunications.
Cyprus offers a Fast Track Permanent Residency program that can be obtained within 6 to 8 months, combining strategic location, lifestyle benefits, and long-term access to European markets.
Speak with a Global Pass advisor about eligible dependents, income requirements, and qualifying properties.
Book a Free ConsultationEverything you need to qualify for Cyprus's Fast Track Permanent Residency program.
Global Pass helps applicants from across the Middle East and GCC navigate Cyprus's Fast Track Permanent Residency program from end to end — from selecting a qualifying property through to final approval, including guidance on the VAT treatment and phased-payment option that can affect timing and cost.
Every applicant's situation is different. Talk to a Global Pass advisor about how this program fits your goals.
Book a Free ConsultationCyprus combines an English-speaking, well-connected lifestyle with some of the most competitive tax conditions in the European Union.
English is spoken by the majority of the population, and Cyprus is home to several UK university campuses, making it a familiar and accessible base for international families. The country consistently ranks among the safest in Europe, with a low crime rate and a high standard of healthcare facilities across the island.
Cyprus offers one of the most competitive tax environments in the European Union. The corporate tax rate is 12.5%, one of the lowest in the EU. Individuals who qualify as non-domiciled residents benefit from an exemption from Special Defense Contribution on foreign-source dividends and interest income for up to 17 years, and there is no inheritance tax in Cyprus.
Cyprus is not yet part of the Schengen Area but is actively working toward accession, with the government targeting membership in 2026. Cyprus joined the Schengen Information System in July 2023, a significant technical step toward that goal.
* The application timeline averages 6 to 8 months, though this can vary depending on individual applications and processing volumes.
The questions applicants ask most often about Cyprus's Fast Track Permanent Residency program.
The minimum investment is €300,000 plus VAT in a new residential property. A reduced VAT rate of 5% is available on the first property purchased in Cyprus, subject to conditions relating to size and price, and no transfer (registration) fees apply when VAT is paid.
Yes. Applications can be submitted regardless of the construction stage, provided at least €200,000 plus VAT has already been paid toward the purchase.
The main applicant can include their spouse, children under 18, unmarried children aged 18 to 25 who are full-time students and financially dependent, and children with physical or mental disabilities regardless of age. From 2025, parents and parents-in-law of the main applicant are no longer eligible for inclusion.
Applicants must demonstrate a secure annual income from abroad of at least €50,000 for the main applicant, plus an additional €15,000 if a spouse is included, and €10,000 for each dependent child included in the application.
There is no day-to-day residency requirement, but permit holders must visit Cyprus at least once every two years, retain the qualifying investment for as long as they hold the permit, and provide annual proof of income and investment maintenance.
The program is designed as a fast-track route, typically taking 6 to 8 months from application to approval.
Yes, through naturalization rather than direct investment. Permanent residents may apply for Cypriot citizenship after 7 to 8 years of legal residence, subject to language, integration, and character requirements.
Stay informed on the latest updates to Cyprus's Fast Track Permanent Residency program.
Global Pass has helped over 1,500 families secure a second citizenship and long-term security for their future.
