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Glossary · Cyprus PR

Secure annual income for Cyprus permanent residence

The income you must prove for Cyprus permanent residence: €50,000 for the applicant, plus €15,000 for a spouse and €10,000 for each child under 18. Proven by a tax return or an auditor's statement.

Cyprus PR programme
€50,000applicant
+€15,000spouse
+€10,000per child

01 / In 30 seconds

The short answer

What it is
The annual income you must prove for Cyprus PR
How much
€50,000 for the applicant + €15,000 for a spouse + €10,000 per child under 18
Students 18-25
Plus €10,000 to the parents' income
How to prove it
A tax return or an auditor's statement

02 / In plain words

What Secure annual income means

Secure annual income is the income a Cyprus PR applicant proves to show the family is financially secure. It is a separate requirement on top of the €300,000 investment.

The amount depends on the family: €50,000 for the applicant, plus €15,000 for a spouse and €10,000 for each child under 18. For each student aged 18-25 filing their own application, another €10,000 is added to the parents' income.

Income is proven by a tax return or an auditor's statement. The source of income is stated in an affidavit - a written statement under oath.

A simple example

An applicant, his wife, two children aged 8 and 12 and a 20-year-old student daughter. Required income: €50,000 + €15,000 + 2 × €10,000 + €10,000 for the student = €95,000 a year.

When income is calculated

  • Deciding whether the whole family applies
  • Adding a student aged 18-25
  • Assembling documents for Form MIP2
  • Preparing the income affidavit

03 / What it covers

How the amount adds up

01

Family

  • Applicant - €50,000
  • Spouse - €15,000
  • Child under 18 - €10,000
02

Students

  • Aged 18-25, dependent
  • Own application
  • +€10,000 to parents' income
03

Proof

  • Tax return
  • Auditor's statement
  • Income affidavit
04

Review

  • Source of income
  • Matches the documents
  • Department and lawyer

04 / How it works

How income is proven

Step 1

The amount

Calculated by family and students.

Step 2

Documents

Tax return or auditor's statement.

Step 3

Affidavit

Statement under oath on income and sources.

Step 4

Filing

With Form MIP2.

Step 5

Review

The department checks income against documents.

05 / Key facts

Key facts

01Family total

€50,000 + €15,000 spouse + €10,000 per child

The applicant proves annual income for the whole family. For example, a couple with two children under 18 needs €85,000 a year.

02Students aged 18-25

+€10,000 each to the parents' income

The student files their own application, but the parents prove income for them. A family with two children and a student needs €95,000 a year.

03How to prove it

Tax return or auditor's certificate

The applicant states the source of income in an affidavit, a written statement under oath. A bank statement does not replace these documents.

04Income vs investment

Two separate requirements

Income does not replace the €300,000 investment and is not part of it. You need both, and income is checked before choosing a property.

Common mistakes

Leaving out students who file separately

Each student aged 18-25 adds €10,000 to the parents' income. Calculate the total for the whole family at once.

Bringing a bank statement instead of a tax return

Income is proven with a tax return or an auditor's certificate. A statement can be added, but it does not replace them.

Confusing income with the investment

These are two requirements: an investment from €300,000 excluding VAT and annual income. One does not count instead of the other.

06 / Expert advice

Anna Kovalevskaya

How to prepare

Work out the amount for your family before collecting documents and check how your income appears in your tax return. If income comes through a company or from several sources, an auditor's statement is often easier.

What we do for you. We calculate the income your family needs, advise on the best way to prove it and prepare the affidavit.

Anna KovalevskayaLead lawyer for EU citizenship and residency, 12 years of practice

07 / Questions

Frequently asked questions

€50,000 a year for the applicant, plus €15,000 for the spouse and €10,000 for each child under 18. The amount depends on family size.

€10,000 to the parents' income for each student aged 18-25 who files their own application.

With a tax return or an auditor's certificate. The source of income is stated in an affidavit, a written statement under oath.

No, alongside it. The investment from €300,000 excluding VAT and income are two separate requirements.

The requirement is calculated for the whole family. How to count both spouses' income is decided from their documents.

We review the tax return and the source of funds before choosing a property. The authority checks income from the documents in the application file.

Cyprus PR glossary

Related terms

Author: Anna Kovalevskaya

Reviewed by: Sergey Evdokimov

Sources: Cyprus Migration Department, gov.cy - Immigration Permits for Investors (4th revision)

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Anna Kovalevskaya, lead lawyer at BRIDGES GLOBAL
Anna KovalevskayaLead lawyer, citizenship and residency, 12 years of practice