Property in Cyprus for foreigners

Updated 6 October 2026

Apartments and houses in Limassol, Larnaca and Paphos: we obtain purchase permission, check the title and developer and arrange permanent residence, including when the deal is done by power of attorney.

Cyprus is an EU country with a clear market for resort and city property in Limassol, Larnaca, Paphos and Nicosia. Foreigners buy apartments and houses here, and buying new property worth at least EUR 300,000 opens the way to permanent residence. Cypriot citizenship is no longer granted for property investment: the programme was closed in 2020. Below: how foreigners buy property, what residence by investment gives, the conditions and how to structure ownership.

Buying property as a foreigner

Non-EU nationals need permission from the District Administration under the Acquisition of Immovable Property (Aliens) Law, Chapter 109. The application is filed on form COMM 145 with the administration of the district where the property is located. There is no fee for the permission, and processing takes 2-3 weeks. A foreign national or couple can obtain permission for a plot of up to 4,000 square metres to build their own home.

Permanent residence through purchase

Under Regulation 6(2) of the Aliens and Immigration Regulations, the Minister of Interior issues immigration permits to non-EU investors who meet these conditions:

• an investment of at least EUR 300,000, about $336,120, for example in a new house or apartment bought first-hand from a developer, plus VAT;
• a secure annual income of at least EUR 50,000, about $56,020;
• the purchase money must come from abroad, not from a Cypriot loan, shown by bank documents;
• proof of payment of at least 66% of the property's value is submitted with the application.

The right of residence is of unlimited validity for the holder and adult dependents, while the card itself is valid for 10 years and is replaced on expiry. Dollar amounts are converted at the European Central Bank rate of 5 October 2026 and rounded up. More on our Cyprus residence by investment page.

Ownership through a trust or company

Property in Cyprus can be held directly, through a Cypriot company or through a trust. A Cypriot law trust helps decide in advance who receives the property after the settlor and separates it from business risks; see Cyprus trust. A company suits letting and commercial property but pays corporate tax, 15% from 2026.

How a purchase works

1. Goal. We define the goal - a home, letting or residence - and the budget.
2. Shortlist. We select properties, new developer stock for residence.
3. Checks. We check the developer's ownership, title, encumbrances and building permits.
4. Permission and contract. We obtain the District Administration permission, sign the contract and register it with the Land Registry.
5. Payment from abroad. We route payments so their origin is proven to the immigration authority.
6. Residence. We file the application with the Migration Department.

Why deals and applications fall through

• the property is not new or not sold by the developer, so it does not qualify for residence;
• the money did not come from abroad or its origin is unproven;
• the developer has no separate title for the apartment, or there are encumbrances;
• the applicant's income is below the required EUR 50,000.

Costs on purchase

New property from a developer is subject to 19% VAT, and a buyer purchasing a home to live in may apply the 5% rate to the first 130 square metres if the size and price stay within set limits. No Land Registry transfer fee is charged on such a purchase. A resale property carries no VAT, but transfer fees apply: 3% on the first €85,000, about $95,240 at the 5 October 2026 rate, rounded up, 5% on the amount up to €170,000 and 8% above that, and the law cuts these fees by half. Stamp duty on contracts was abolished from 1 January 2026.

What we do

We select the property, check the developer and title, obtain purchase permission, handle the contract and payments, file for residence and help choose the ownership structure: direct, company or trust. A manager will calculate the cost in the chat.

Can a Russian citizen buy property in Cyprus

Yes. A Russian citizen, like any non-EU foreigner, buys an apartment or house in Cyprus with District Administration permission; there is no fee for the permission, and review takes 2-3 weeks. The bottleneck is money. EU sanctions bar Russian citizens without EU residence from holding deposits above €100,000 in European banks, and Cypriot banks check the source of funds closely. So the route of the purchase money is planned before the deposit: where the transfer comes from, through which bank and with what documents.

For permanent residence the purchase money must come from abroad, not from a Cypriot loan, and this is proven with bank documents. Schemes with cash or transfers through third parties lead to refusal of both the deal and the residence permit.

Apartment prices in 2026

In the first half of 2026, 3,202 resale transactions worth €727 million were recorded in Cyprus. New builds are noticeably more expensive than resale homes, especially by the sea.

Only a new home bought from a developer for €300,000 plus VAT qualifies for permanent residence, which in Limassol usually means a 70-80 m² apartment and noticeably more space in Larnaca and Nicosia. More in our article on buying an apartment in Cyprus.

Owner taxes: renting out and selling

• Ownership. Cyprus has had no annual property tax since 2017. The owner pays municipal charges and building service fees.
• Rent. Income is taxed at 0-35%, and since 2026 the first €22,000 a year is tax-free. If the apartment is let through a company, it pays 15% corporate tax.
• Sale. Gains on selling Cypriot property are taxed at 20%, the only capital gains tax in Cyprus.
• Stamp duty on contracts was abolished from 1 January 2026.

Russia suspended its double tax treaty with Cyprus in 2023, so a Russian tax resident must also declare Cypriot rent in Russia without a credit. More on our page on taxes in Cyprus.

How to buy property in Cyprus remotely

In Cyprus a representative with a power of attorney can sign the sale contract. The power of attorney is made by a notary with an apostille or at a Cypriot consulate, with a certified Greek or English translation. Through the representative you apply for District Administration permission, register the contract at the Land Department, which protects the buyer until a separate title is issued, and pay the taxes and fees.

Permanent residence requires a personal visit: biometrics are given in Cyprus, and you then visit at least once every 2 years to keep the status. Conditions are on our page on Cyprus residence by investment, and to compare Cyprus with other countries see our overview of where to buy property abroad.

What we do

• Property shortlist for your investment goal
• Legal due diligence on the property
• End-to-end transaction support
• Ownership structuring (company, trust)
• Property management and letting

See also

Company formation · Business account · Personal account · Country taxes · All country programs

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