A Cypriot passport gives all the rights of an EU citizen: living, working and studying in any EU country and wide visa-free access worldwide. It can no longer be bought as before: the citizenship by investment program was closed back in 2020, and in 2023 the naturalisation rules became stricter. But a legal route remains: through permanent residence for a property investment and living on the island. Here is how it works in 2026 and how long it takes.
The investment program no longer exists
Until November 2020 Cyprus granted citizenship for investments from €2 million. After investigations into abuses the program was closed, and some of the passports issued were later revoked. Today Cypriot citizenship can only be obtained on general grounds: through naturalisation, marriage to a Cypriot citizen or descent.
Naturalisation: the new rules
At the end of 2023 Cyprus reformed its citizenship law. The main conditions for naturalisation are now:
- Legal residence in Cyprus for at least 8 years out of the last 11 years before applying.
- Continuous residence for the 12 months immediately before applying; absences totalling up to 90 days do not break this period.
- Knowledge of the Greek language and basic knowledge of contemporary political and social life in Cyprus.
- No criminal record, a legal source of funds and compliance with tax obligations.
By law, an application must be decided within eight months.
Fast track for highly qualified professionals
For highly qualified employees of companies with foreign capital (Foreign Interest Companies) the periods are shorter: 4 or 5 years of residence depending on the level of Greek. Their family members can apply on general grounds after 8 years of residence.
Permanent residence through property investment
The most popular way for an investor to gain a foothold in Cyprus is permanent residence under Regulation 6(2). The main conditions:
- Purchase of new residential property from a developer worth at least €300,000 excluding VAT (one or two properties).
- Confirmed annual income from sources outside Cyprus: from €50,000 for the applicant, plus €15,000 for a spouse and €10,000 for each dependent child.
- No criminal record.
- Visiting Cyprus at least once every two years to keep the status.
Important. Investment-based permanent residence does not require living on the island, but on its own it does not lead to citizenship either. Only actual legal residence in Cyprus counts towards naturalisation: 8 years out of the last 11 and 12 months continuously before applying.
Why people get Cypriot permanent residence without planning citizenship
Many obtain permanent residence not to move or get a passport, but as a permanent European status for family and business:
- Permanent status for the whole family, including dependent children up to 25 and parents, with no obligation to live on the island: a visit once every two years is enough.
- Banking like an EU resident: the €100,000 sanctions limit on deposits of Russian citizens does not apply to holders of temporary or permanent residence in EU countries.
- Convenient ownership and management of property in Cyprus.
- A basis for corporate and financial structures: a permanent resident can be a shareholder of a Cypriot company and receive dividends.
- A backup plan: the option to move at any time and start counting the period for naturalisation.
Important. Investment-based permanent residence does not give the right to work as an employee in Cyprus. Cyprus is not yet part of the Schengen area, so a Cypriot residence permit does not replace a Schengen visa for travel in Europe.
Marriage and descent
Spouses of Cypriot citizens and descendants of Cypriots can obtain citizenship on separate grounds provided by law. The conditions (length of marriage, length of residence, proof of descent) depend on the specific situation and are assessed individually.
What a Cypriot passport gives
- The right to live, work and study in any EU country.
- Visa-free entry to most countries of the world; to the United Kingdom for short trips with an electronic travel authorisation (ETA).
- Cyprus allows you to keep your previous citizenship: there is no need to give up your Russian passport.
- Access to European education and healthcare on equal terms with EU citizens.
Documents
For any route you will need an international passport, documents confirming legal residence, a certificate of no criminal record, proof of income and source of funds, and a Greek language certificate (for naturalisation). Documents in Russian are translated into Greek or English and apostilled.
How MIRBEZVIZ helps
- We arrange Cypriot permanent residence through property investment together with our partners in Cyprus: choosing a property from a developer, checking income requirements, filing documents.
- We draw up a realistic plan for the path to citizenship: residence periods, language, documents.
- We help with related matters: a bank account, tax residence, relocating the family.
Message Victoria: we will assess whether Cypriot permanent residence suits you and calculate the budget and timeline.
Information is current as of 15 October 2026. Bank and program rules and terms change, so please check the details with our specialists before making a decision.
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