Cyprus offers an opportunity to invest for those wishing to obtain residency within the country through its permanent residence program, where the government launched its program for those who wish to move and live in Cyprus in exchange for buying and owning a property with a value starting from 300,000 euros within a period of up to 3 months by the so-called fast track, Provided maintaining ownership of the property for life to maintain the validity of permanent residence in Cyprus, the investor can later obtain Cypriot citizenship for himself and all eligible family members if they meet the required conditions and criteria, Investor can also proceed with the permanent residence procedures through the normal path with a real estate investment with a lower value than 300,000 euros, but the duration of the procedures for obtaining residency may be up to a year and a half or even more. The permanent residency program in Cyprus offers many benefits and advantages to any potential investor, the most important of which are: obtaining permanent European residency for you and all eligible family members, in addition to the ease of Obtaining a Schengen visa after the residency, and you can enjoy tax exemptions and privileges granted by the state to those wishing to invest in it, In addition to a good financial return that varies from one region to another depending on the type of your investment.
When talking about the Real Estate market in Cyprus and its attractiveness compared to others, it is considered one of the best markets in the world and in Europe in particular, as the state has made the process of buying and selling real estate easy for investors outside Cyprus, and it was noted that real estate sales In Cyprus reached 1.3 billion euros during the first quarter of 2022 alone, according to reports issued by the Land Registry of Cyprus, a total of 5,258 properties were sold, and the cities of Limassol and Nicosia had the largest share of real estate sales, with total sales in Limassol 1,581 properties amounted 573 million euros, and in Nicosia, a total of 1,574 properties were sold with a total value of 313 million euros, and these figures, if anything, indicate the flexibility enjoyed by the real estate market in Cyprus and the high level of confidence in the sector between property owners and foriegn investors.
