Cyprus and Schengen: get your permanent residence before the conditions change

Cyprus's accession to the Schengen area will free permanent residence holders to move across 29 European countries. Today, the minimum investment threshold is €300,000, but initiatives to raise it with integration into the Schengen area are already being discussed.

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Why the cost of permanent residence in Cyprus will rise to €500,000 by 2026

New status of Cypriot permanent residence
From 2026, permanent residents will have free access to all Schengen countries. This dramatically increases the value of Cypriot permanent residency, as it is equivalent to European ‘golden’ residency, but with all the advantages of Cypriot tax residency.
Similar transformations in other EU countries have already led to a review of investment programmes: higher thresholds, additional filters, and reduced volumes.
Cyprus is also preparing to adapt its system to the new status and growing interest.
Real estate liquidity will increase
Schengen will open Cyprus to new flows of investors and make the real estate market even more liquid. This will increase the minimum investment threshold, require stricter verification of the origin of funds, and enhance due diligence. This trend has already been observed in other EU countries, such as Portugal and Greece.
Growing investor interest and limited quotas
Against growing interest and preparations for Schengen accession, the Cypriot authorities are considering updating the conditions for obtaining permanent residence to maintain market stability and manage migration flows.
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Why Cyprus permanent residency will become even more valuable from 2026

Visa-free access to 29 European Union countries
With Cyprus joining the Schengen Area, permanent residents will enjoy freedom of movement throughout Europe — without visas or restrictions.
Legal residence and travel opportunities
Permanent residence in Cyprus will provide legal residence and simplified conditions for travel, study, and business in the EU.
Greater liquidity for real estate
Increased demand from foreign investors and EU citizens will increase the value and liquidity of real estate properties.
Prestige of residence in an EU country
Schengen is becoming a status symbol — it means access to the European Union and trust from banks and international organisations.

On the threshold of Schengen: Cyprus permanent residency awaits new rules

Cyprus President Nikos Christodoulides
«We are fully technically ready and moving towards Schengen membership with the full support of the European Commission.».
European Commission
The European Commission approves Cyprus' steps towards Schengen, financing the modernisation of infrastructure, digital systems, and security measures amid growing tourism.
Cyprus Parliament
The Cyprus Parliament is considering tightening the conditions for the Golden Visa and raising the investment threshold, which could change the rules for obtaining permanent residence.
Detailed article from SPM
We analyse why the conditions for Cypriot permanent residence may change with Schengen's approach.
Read the article

We have been helping people obtain permanent residence for 9 years:

We check and analyse eligibility criteria
We select real estate options
We establish communication with the developer
We collect and check documents
We provide legal support
We submit documents to the immigration department
About us
Сергей Поливар
Sergey Polivar
СЕО SPM

What does Cyprus permanent residency offer you?

Europe without restrictions
Europe without restrictions
Flexible residency conditions
The programme does not require permanent residence on the island — one visit every two years is sufficient. This is convenient for international entrepreneurs and families living between countries.
Permanent residence for the whole family
You can immediately apply for status for the whole family: spouse, minors, and financially dependent children. This makes the programme one of the most attractive and flexible for family migration.
Reliable investment in the EU
The opportunity for legal investment in a developing region.
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Download the checklist to learn:

What is permanent residence in Cyprus?
How to obtain status for the entire family
Why now is the best time to apply
How to avoid paying taxes on foreign income
What documents are required
Get a checklist

How we help you obtain permanent residence in Cyprus on a turnkey basis

01
Assistance in selecting real estate
01
Assistance in selecting real estate
We select properties starting at €300,000 that fully meet the programme requirements. We take your goals into account, whether it is a personal residence, a rental, or a long-term investment. We conduct legal due diligence to eliminate any risks at the purchase stage.
02
Preparation and execution of documents
02
Preparation and execution of documents
As part of our support, we provide:
– collection and verification of passport copies,
– obtaining and translating a certificate of no criminal record,
– preparation of proof of income,
– coordination of notarised translations and apostilles,
– approval of an insurance policy that meets the requirements of immigration law.
Our lawyer checks all documents before submission to the immigration authorities.
Upon request, we can also help you set up a tax account in the Tax For All (TFA) system and obtain an individual tax number (TIC). These steps are not mandatory for obtaining permanent residence, but may be required as part of your future tax strategy.

This service is provided separately and at the client's request.
03
Application submission and process monitoring
03
Application submission and process monitoring
We submit your application to the Cypriot immigration authorities on your behalf, track each status, and notify you of the review's progress. We eliminate errors and bureaucratic delays.
04
Obtaining permanent residence and follow-up support
04
Obtaining permanent residence and follow-up support
After 8–12 weeks, you will receive your residence card. We will accompany you when you submit your biometric data, help you open a bank account, connect to mobile communications, and obtain a tax identification number (TIC). If necessary, we will apply for Non-Dom status for tax benefits.

Frequently asked questions

What documents are required to obtain permanent residence in Cyprus?

To apply for permanent residence, you must provide:

  • an application for permanent residence;
  • a copy of your foreign passport with a valid visa;
  • a copy of your birth certificate;
  • a copy of your marriage certificate (if applicable);
  • a copy of your divorce certificate (if applicable);
  • a certificate of no criminal record from all countries where the applicant has lived for more than 6 months after the age of 18; a medical certificate;
  • proof of sufficient income to live in Cyprus.
Can I obtain permanent residence in Cyprus if I do not live on the island?
Yes, it is possible. You must submit a complete set of documents, undergo biometric registration in Cyprus, and visit the country at least once. Permanent residence on the island is not required.
Is it possible to obtain permanent residence in Cyprus without living there permanently?
Yes, living on the island is not mandatory. However, you must visit Cyprus at least once every two years to maintain your permanent residence. If you are in Cyprus for more than 183 days a year, you will become a tax resident and have obligations to the tax authorities.
Can I sell the property after obtaining permanent residence?
Yes, but not earlier than 5 years. Selling the property before this period may result in the cancellation of permanent residence status.
How long is the permanent residence card valid, and does it need to be renewed?
The permanent residence card is valid indefinitely and does not need to be renewed. The only condition is to visit Cyprus at least once every two years.
How long does obtaining permanent residence in Cyprus take?
The processing time for a permanent residence application is between 2 and 6 months, depending on individual circumstances and the accuracy of the documents submitted.
What are the options for obtaining Cypriot citizenship after permanent residence?
Foreign citizens with permanent residence can apply for citizenship through naturalisation if they meet the following conditions: ownership of real estate, residence in Cyprus for at least one year, knowledge of the language (Greek or English), and completion of several procedures.
Is it necessary to hire a lawyer?
You can apply independently, but in practice, almost everyone turns to lawyers or licensed agencies. This reduces risks, speeds up the process, and helps to collect the documents correctly.
Can I rent out the purchased property?
Yes, this is permitted. Moreover, many investors choose liquid real estate to rent it out and generate income, while retaining their permanent residence status.
What expenses, apart from the cost of the property, should be considered?

In addition to the cost of the property from €300,000 (excluding VAT), you will need to budget for:

  • VAT (5% for the first home, 19% for subsequent homes);
  • Lawyer or agency fees (usually between €2,000 and €5,000);
  • Government fees and paperwork;
  • Medical insurance for the whole family;
  • Translations, apostilles, notary certifications;
  • Travel expenses (flight, hotel, transfer, meals).