As from May 2009, non EU nationals who are acquiring property in Cyprus for personal occupancy shall be subject to favourable treatment in regard to the acquisition and renewal of residence permits enabling entrance and stay in Cyprus. 

This measure is part of the Government’s efforts to confront the world economic crisis and, particularly, to reinforce the real estate market in Cyprus, by motivating the increase of residence purchases by non EU nationals. 

The incentive applies to non EU nationals acquiring property for personal occupancy in Cyprus of value not lower than €300.000.

The holder of such residence visa (Category F visa) shall be exempted from time consuming immigration formalities that apply to non EU nationals entering Cyprus, e.g. consular validations, renewals, re-entry permits etc.