What is the time limit on Cyprus’s rental option to obtain residency?

If I take the route where I rent a property for €16000 a year to get residency in Cyprus, do I have to keep the rental throughout the whole period or could I change it to a cheaper unit after getting my residency permit?

Answers

On Celia Pourgoura answered:

Residence permits are not issued based on rental criteria. There are other categories that do require tenancy in Cyprus but that would also have other criteria as well.

Andreas Parparinos

Parparinos & Hadjipanayis LLC

On Andreas Parparinos answered:

Yes, you may change the rental.