Cyprus residence by buying real estate

What Is Cyprus Residence by Real Estate?

Cyprus allows foreign investors to obtain residence permits by purchasing property in the country. This program attracts people worldwide who want to live in an EU member state with a Mediterranean lifestyle. When you buy qualifying real estate, you can apply for a residence permit that gives you the right to live in Cyprus long-term.

Who Can Apply?

Most foreign nationals are eligible to buy property and apply for residence in Cyprus. You typically need to be at least 18 years old and able to show proof of legal residency status in your home country. The property purchase is the main requirement—you don't need to earn a specific salary or prove a certain income level to qualify, though banks and sellers may have their own financial requirements.

Types of Property You Can Buy

You can purchase residential property, commercial buildings, or land in Cyprus. However, there are restrictions on farmland and certain other categories. Most foreign buyers focus on:

• Apartments and flats
• Houses and villas
• Commercial properties
• Holiday rental properties

Always check current regulations before purchasing, as rules on property types and foreign ownership can change.

The Residence Permit Process

After buying property, you apply to Cyprus immigration authorities for a residence permit. You'll need to submit documents including your property deed, proof of purchase, and identification. The process typically involves providing evidence that you own the property and meet current residency requirements.

Once approved, you receive a residence permit valid for a specific period. You may need to renew it periodically by proving you still own the property and meet any ongoing conditions.

Financial Considerations

Property prices vary significantly depending on location, size, and condition. Beachfront properties cost more than inland areas. Beyond the purchase price, budget for:

• Registration and transfer taxes
• Legal fees for property conveyancing
• Ongoing property maintenance
• Annual tax obligations
• Utility costs

Talk with a local real estate agent and lawyer to understand the complete financial picture before committing.

Benefits of This Pathway

Residence in Cyprus gives you access to EU living benefits, Mediterranean weather, and a lower cost of living than many Western European countries. You own a tangible asset while gaining legal residency status.

Important Next Steps

Research current property prices and available properties online. Consult a Cyprus-based real estate lawyer before making any purchase. Check the official Cyprus government immigration website for current residence permit requirements and application procedures.

This is general self-help information, not legal advice. Always verify current rules on the official government website.