Updated
GL-CY-59
Glossary · Cyprus
Cyprus PR glossary in plain words
What Cyprus documents, offices and rules mean for permanent residence by investment: how a term is called in Cyprus papers and what it changes for your family. Checked against the current rules of the Migration Department.
Programme and status
01Cyprus permanent residence
Cyprus PR
Cyprus permanent residence by investment is available for an investment in real estate from 300,000 euros.
from €300k in real estate
02Residence permit card
Cyprus residence card
The biometric plastic card for Cyprus permanent residence. Issued for 10 years, for children until 18. The right to live in Cyprus is indefinite; the card is simply renewed.
10 years card validity
034th Revision of Criteria
Cyprus PR criteria
The current rules of the Cyprus permanent residence by investment programme, 4th revision of 02.05.2023: from €300,000 excluding VAT, income, family and documents.
€300,000 minimum excl. VAT
04
Secure annual income
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.
€50,000 applicant
05Investment threshold (Regulation 6(2))
€300,000 investment for Cyprus PR
The minimum investment in Cyprus without which an investor PR application is not accepted
€300,000 threshold excl. VAT
06Dependent family members
Family members in Cyprus PR
The applicant, the spouse and children under 18 in one application and one investment
€15,000 income for a spouse
07Naturalisation by years of residence (form M127)
Cyprus citizenship by residence
Cypriot citizenship through naturalisation after years of lawful life on the island
7 of 10 years of lawful residence
Application, checks and decision
01Immigration permit application
Form MIP2
The immigration permit application form - the official form for Cyprus permanent residence. Current version dated 09.03.2026, filed with the Migration Department.
09.03.2026 current version
02Migration Department
Cyprus Migration Department
The authority that accepts and reviews Cyprus permanent residence applications. 90 Archbishop Makarios III Avenue, Nicosia. The decision is taken by the Deputy Ministry of Migration.
MIP2 PR application form
03
Dependent students 18-25
Children aged 18-25 who are unmarried, study at a university abroad and are financially dependent on their parents. They file their own application, and €10,000 is added to the parents' required income.
18-25 years old
04Monitoring mechanism
Cyprus PR monitoring
Checks after Cyprus permanent residence is granted: the investment and health insurance are confirmed every year, and criminal record certificates of adult family members every 3 years.
1 year investment check
05Government fees: application fee and ARC fee
Cyprus PR government fees
State charges for processing the PR application and registering each family member
€500 per application
06Medical examinations for immigration permits
Medical tests for Cyprus PR
Blood tests and a chest X-ray as part of an immigration permit package
01.09.2026 start date
Real estate
01Department of Lands and Surveys (DLS)
Cyprus Department of Lands and Surveys
Cyprus state property register - Department of Lands and Surveys
€50 contract deposit
02Certificate of Registration of Immovable Property
Title deed in Cyprus
Certificate of Registration of Immovable Property - the main ownership document in Cyprus
€5 certificate issue
03Search Certificate
DLS search certificate
Search Certificate - an official statement of the owner and all entries on a property
€10-20 cost
04Encumbrance
Encumbrance in Cyprus
Any entry restricting a property: mortgage, seizure, ban, another buyer's contract
4 types of encumbrance
05Separate title deed
Separate title deed in Cyprus
A title for a specific flat or house, not for the developer's whole plot
2 conditions: approval and plot division
06Developer mortgage
Developer mortgage in Cyprus
A bank loan to the developer secured on the plot where your building stands
1 bank letter for the flat
07Reservation Agreement
Reservation agreement in Cyprus
A short agreement that takes the property off the market while it is checked
2-4 weeks off the market
08Contract of Sale (SPA)
Sale contract in Cyprus
The main purchase contract: price, payment schedule, delivery and title transfer dates
5 working days - certificate age limit
09Deposit of contract of sale (form N.270)
Contract deposit in Cyprus
Filing the sale contract with the DLS so it appears in the register
€50 deposit fee
10Specific Performance Law 81(I)/2011
Specific performance law
A law that lets the buyer demand transfer of the property under the contract
81(I)/2011 law number
11Law 139(I)/2015 ("trapped buyers" law)
Direct title issue to the buyer
A procedure for the buyer to obtain the title when the developer delays the transfer
139(I)/2015 law number
12Transfer fees (μεταβιβαστικά τέλη)
Cyprus transfer fees
The DLS fee for registering ownership to the buyer
3/5/8% rates by price band
13Permit under Cap. 109 (form COMM 145)
Foreign buyer permit (Cap. 109)
A District Administration permit for a non-EU citizen to buy property under the Cap. 109 law
€0 permit fee
14Planning permit (Πολεοδομική Άδεια)
Planning permit
The first permit for a building project: what may be built on the plot and at what density
31.10.2023 cut-off for old VAT rules
15Building permit (Άδεια Οικοδομής)
Building permit
Permission to build to approved drawings
01.01.2025 cut-off for old VAT rules
16Certificate of Final Approval (Πιστοποιητικό Τελικής Έγκρισης)
Certificate of final approval
Official confirmation that the building matches its building permit
4 permits before a separate title
17Separation / division permit
Division permit
Permission to split the plot title into separate titles for each flat
4 permits before a separate title
18First sale
First sale from a developer
A developer selling a new home for the first time, before it has had any other owner
€300,000 minimum excluding VAT
19Resale property
Resale property in Cyprus
Property that has already had an owner after the developer
€8,600 transfer fee on €300,000
20New building, 18 months rule
18-month new building rule
A building without 18 months of systematic use counts as new for VAT
18 months of use
21Commercial property (option B)
Commercial property for Cyprus PR
Investing €300,000 in offices, shops, hotels, similar property or a combination
€300,000 minimum investment
22Short-term rental registration (Deputy Ministry of Tourism)
Short-term rental licence
Registration of a home for short-term letting with the Cyprus Deputy Ministry of Tourism
€222 registration for 3 years
Money, taxes and fees
01Value Added Tax (VAT, ΦΠΑ)
VAT on Cyprus property
Value added tax charged on the purchase of new property in Cyprus
19% standard rate
02Reduced VAT rate of 5% (Law 42(I)/2023)
Reduced 5% VAT on housing
A reduced VAT rate on buying a new main home in Cyprus
130 m² at the 5% rate
03Tax Identification Code (TIC, ΑΦΤ)
Cyprus tax identification code
Tax Identification Code - a taxpayer number at the Cyprus Tax Department
€0 state fee
04Stamp duty (τέλη χαρτοσήμου)
Cyprus stamp duty
A charge on signed contracts, including property sale contracts
€0 for contracts from 2026
05Capital Gains Tax (Φόρος Κεφαλαιουχικών Κερδών)
Cyprus capital gains tax
A tax on the gain from selling property located in Cyprus
20% rate
06Special Defence Contribution (SDC)
Special defence contribution
Special Defence Contribution - a separate tax on dividends and interest
0% on rent from 2026
07Non-domiciled resident (non-dom)
Cyprus non-dom status
A Cyprus tax resident without Cyprus domicile - a non-domiciled resident
0% contribution on dividends and interest
08General Healthcare System (GESY, ΓεΣΥ)
GESY health contribution
General Healthcare System - the public healthcare system of Cyprus
2.65% on passive income
09Tax residency
Cyprus tax residency
The status under which a person pays tax in Cyprus as a resident
183 days a year
10Personal income tax (Φόρος Εισοδήματος)
Cyprus income tax
Tax on individual income: salary, pension, rent and other income
€22,000 tax-free
11Investment in the share capital of a Cyprus company
Investment in a Cyprus company
A €300,000 contribution to the capital of a company registered and operating in Cyprus
€300,000 into company capital
12Investment in units of a Cyprus investment fund (AIF, AIFLNP, RAIF)
Investment in a Cyprus fund
Buying €300,000 of units in a Cyprus investment fund for PR
€300,000 in fund units
13Source of funds / source of wealth
Source of funds for Cyprus PR
Proof of where the €300,000 came from and how your wealth was built
2-6 weeks bank check
14
Cyprus bank account
The client's personal account with a bank in Cyprus
2-6 weeks to open
Documents and forms
01Alien Registration Certificate
ARC (Cyprus alien registration)
The registration number of a foreign national in Cyprus. Issued after permanent residence is approved; the fee is €70 per person and the number stays with you for life.
€70 per person
02Apostille (Hague Convention)
Apostille for Cyprus
A stamp that lets a document from one country be accepted in another without consular legalisation
€5 apostille in Cyprus
03Certifying Officer (Πιστοποιών Υπάλληλος)
Certifying officer in Cyprus
An official appointed by the Ministry of Interior to certify signatures and copies in Cyprus
€5 document up to 2 pages
04Citizen Service Centre (ΚΕΠ)
Citizen Service Centre (KEP)
A state centre where you can get services of several authorities at one desk
€5 apostille
05Sworn translator
Sworn translator in Cyprus
A translator on the official Cyprus register whose translations authorities accept
€18-23 per 250-word page, guide
06Criminal record certificate / Police Clearance Certificate
Police clearance for Cyprus
An official certificate of no criminal record from the country of citizenship and the country of residence
up to 30 days Russia, plus apostille
07Plan A medical insurance
Plan A health insurance
A medical policy from a Cypriot insurer for immigration permits
from €120 a year, under 62
08Power of attorney / Authorisation of Representative
Power of attorney for Cyprus
A document by which the client authorises a lawyer and a representative to act on their behalf
€5 certification in Cyprus
09Affidavit (Ένορκη Δήλωση)
Income affidavit
A written sworn statement of annual income and its sources
€50,000 applicant income a year
10Statement for not Employment in Cyprus
Non-employment declaration
A declaration that the applicant and spouse will not be employed in Cyprus
2 declarations: applicant and spouse
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