It can be submitted by foreign citizens, of third countries outside the European Union, are entitled to apply for Residence Permit in Cyprus on the basis of the Categories referred to in Regulations 5 and 6(2) of the Aliens and Immigration Regulations.
Cyprus Resident and Immigration Permits are granted according to certain provisions and criteria. Depending to the different circumstances of each Applicant, different provisions and different type of Residence Permits can be granted.
Our professiona immigration team will consult you on the requirements of the whole application process.
The Permits that may be granted are as follows:
- Quick Track Permanent
Purchased in Cyprus one or two, new real estate properties with total purchase cost of at least €300.000 (excluding VAT). Properties can be 2 residences, or 1 residence & 1 office or 1 residence & 1 shop. At least €200.000 of the purchase cost must be paid and all funds need to be transferred from abroad.
The applicant should prove that he/she has at his/her disposal a secure annual income of at least €30.000. This annual income should increase by €5.000 for every dependent person of his/her family (spouse and children) and by €8.000 for every dependent parent or parent-in-law. This income should derive from abroad, and may include salaries from employment, pensions, dividends from shares, fixed deposits, rents a.s.o. For the calculation of the total amount of the annual income, the spouse’s income may be also taken into consideration.
The applicant should submit a confirmation letter from a financial institution in Cyprus that he/she 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.
Such applicants are entitled to take advantage of a quick track Residence Permit, issued within 3 months.
- For Long Term Residence Permits for applicants falling into any one of the following Categories:
Category A: Persons who intend to work as self employed in agriculture, cattle breeding, bird breeding or fish culture in the Republic, provided that they have in their possession adequate land or a permit to acquire same, they have fully and freely at their disposal capital of approximately €430,000 and such an employment should not negatively affect the general economy of the Republic.
Category B: Persons who intend to work as self employed in mining enterprises in the Republic, provided that they have in their possession a relative permit, they have fully and freely at their disposal capital of approximately €350,000 and such an employment should not negatively affect the general economy of the Republic.
Category C: Persons who intend to work as self employed in a trade or profession in the Republic, provided that they have in their possession a relative permit, they have fully and freely at their disposal capital of approximately €260,000 and such an employment should not affect negatively the general economy of the Republic.
Category D: Persons who intend to work as self employed in a profession or science in the Republic, provided that they have academic or professional qualifications, for which there is demand in Cyprus. Possession of adequate funds is also necessary.
Category E: Persons who have been offered permanent employment in the Republic, which will not create undue local competition.
Category F: Persons who possess and have fully and freely at their disposal a secured annual income, high enough to give them a decent living in Cyprus, without having to engage in any business, trade or profession. The annual income required should be at least €9568,17 for a single applicant and moreover at least €4613,22 for every dependent person, but the Immigration Control Board may demand additional amounts as necessary. Most applicants come under this Category, the majority of them being pensioners or retired persons.
