Permanent Residency

Permanent Residency in Cyprus

 

New and accelerated procedure for granting Immigration Permit to applicants who are third country nationals and intent to invest in the Republic of Cyprus.

 

Requirements and conditions
1. Accelerated process (only 2 months) from the date of the submission of the application.

2. No need to reside in Cyprus as long as the applicant and his family included in the Immigration Permit, visit Cyprus at least once every two years.

3.The applicant should be an owner of a property (sold for the first time by a development company) in Cyprus, a house, an apartment or any other building, for a minimum value of €300.000 + VAT (if any).

4. Options in property purchase – i.e. two independent housing units or one housing unit and a shop or one housing unit and an office as long as the total amount is for a minimum value of €300.000 + VAT (if any).

5. The immigration permit issued to an applicant covers his spouse and children under the age of 18. The said permit is also applicable for unmarried children aged 18 to 25 who may prove that they are students at a University and are financially dependent on the applicant. The said permit will be valid for life after the age of 25 without any other supportive document.

6. Documentation as proof that the applicant and/or his spouse have a secured minimum annual income of €30.000, (increase by €5,000 for each dependent person) from sources originating from abroad (salaries, pensions, dividends, fixed deposits, rents a.s.o.).

7. The parents of the main applicant and those of his spouse are also able to apply and obtain the Permanent Residence Permit by just showing an extra 8,000 euros each on the main applicant’s income certificate.

8. The applicant should submit a confirmation letter from a financial institution in Cyprus that he has deposited a minimum capital of €30.000 into an account, which will be pledged for a period of at least three years. It must be proved that the said amount has been transferred to Cyprus from abroad.

9. The applicant and his family included in the Immigration Permit must submit with their application, all documentation needed as per the checklists provided by the Cyprus Government.

10. The applicant and his spouse shall confirm that they do not intend to be employed in Cyprus but it is to be noted that the applicant and/or his spouse may be a shareholder(s) in a Company registered in Cyprus and the income from the dividends of such a company in Cyprus are not deemed an impediment for the purpose of obtaining an immigration permit.
Benefits of Permanent Residence in Cyprus for Non-EU residents
Cyprus Residence permit is permanent and no need for future reconsideration