The Cyprus Residency by Investment Program allows overseas investors to receive a Cypriot permanent residency permit (PRP) in as little as two months by purchasing a property for €300,000. (plus VAT). The property must be a first-time sale and may include up to two housing units, all of which must come from the same developer. After receiving the PRP, applicants must return to Cyprus within one year to submit their biometric data for the issuing of their PR card, and they must not leave the country for longer than two years. Cyprus residency can be used as a stepping stone to citizenship in Cyprus. If all of the qualifications are met, this can be obtained in 5 years