Does a resale apartment qualify for the €300k residency route?

No — the fast-track route requires new property sold for the first time by a developer. Resale purchases fall outside it, which is a decisive argument for off-plan when residency is a goal.

Is the €300,000 with or without VAT?

Excluding VAT. A property priced €300,000 + VAT satisfies the property test; the VAT itself may be at 5% or 19% depending on your primary-residence position.

Can I get residency before the apartment is finished?

Yes — applications are filed once the deposited contract and required payments are evidenced, and approvals routinely arrive while construction is ongoing.

Can I work in Cyprus with this permit?

Employment in Cyprus is not permitted, but you may own a Cyprus company, act as director, and receive dividends — the standard structure for internationally active holders, and one tax.com.cy sets up routinely.

Cyprus Permanent Residency via Property: The €300k Route Explained

Buy a new-build property for €300,000 + VAT, show stable foreign income, and Cyprus grants permanent residency to your whole family — that is the essence of the fast-track route, and why it is welded to the off-plan market: only new, first-sale property qualifies.

€300k + VAT

minimum new-build investment

Whole family

spouse and children included

New build only

resale doesn't qualify

01The property test

The route requires purchasing new residential property (first sale by a developer) with a total value of at least €300,000 excluding VAT, with payment substantially evidenced from funds transferred from abroad.

Resale property does not qualify for this route

— which structurally advantages off-plan and new-build inventory, and is why every €300k+ new development in our index carries the PR-eligible flag.

02The income test and family scope

Applicants must show secure annual income from abroad — the current baseline is €50,000, increased by €15,000 for a spouse and €10,000 per dependent child. The permit covers the applicant, spouse and minor children; adult dependants have separate conditions. Income can come from salaries, dividends, rents or pensions earned outside Cyprus.

03Obligations after approval

Permanent residency here is genuinely permanent — no renewals — but holders must not remain outside Cyprus for two consecutive years, must maintain the qualifying property (selling it requires replacing it to keep the permit), and must not undertake employment in Cyprus, though owning a Cyprus company and receiving dividends is permitted. After sufficient years of residence, naturalisation becomes possible under separate rules.

04Sequencing with an off-plan purchase

The application typically runs in parallel with the purchase: sale agreement signed and deposited, minimum payment evidenced, then the residency file is submitted while construction continues. Buyers routinely hold PR before their apartment is delivered. Our partner firm tax.com.cy prepares and files these applications and coordinates the property evidence with your purchase timeline.