The republic of Cyprus has a well-established fast track procedure allowing citizens of third countries (non-EU members) and their families to acquire permanent residence. An immigration permit under section 6 (2) of the Aliens Immigration Regulations of 1972, as amended, which provides permanent resident status, will be issued to individuals who acquire, by purchase from a property developing company, a property in Cyprus for the purpose of the occupation by them and their family. The property must have a minimum price of €300,000 excluding VAT and it must be the initial sale of the property rather than a resale.