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Permanent residency permit in Cyprus

Permanent Residence Permit in Cyprus

EU-Citizenship

Main requirements needed to gain Permanent Residence Permit Visa in Cyprus within 3 months:

  • Purchase a Cyprus property worth over €300,000 +V.A.T. (5%)
  • Create a long-term deposit in a Cypriot bank of €30,000 which will be pledged for at least a three year period.
  • The property must be new, not resale.

This is addressed to individuals 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 €9569.17 for a single applicant and at least €4613.22 for every dependent person; however, the Immigration Control Board may demand additional amounts if deemed necessary. The majority of applicants who fall under this Category, are pensioners or retired persons.

For the granting of an Immigration Permit, the application is submitted on form M.67 to the Civil Registry and Migration Department directly or through the District Aliens and Immigration Branches of the Police. The application should be accompanied by the appropriate documents, depending on the Category for which it is submitted. Applications for Category F, which are the most common, should be accompanied by the original documents regarding the income of the applicants. Applicants who are abroad may submit an application directly to Cyprus, as stated above or through the local Consular Authorities of the Republic of Cyprus. The applications are examined by the Immigration Control Board who submit the relevant suggestion to the Minister of the Interior for a final decision.

Permanent residency permit in Cyprus

Cyprus Passport – Citizenship in a EU

Main requirement needed to gain Cyprus Passport – EU Citizenship within 3 months:

  • Investment of €2 million into real estate at your choice. (You are entitled to sell your investment in 3 years)

In September 2016, the Cyprus government introduced new changes to citizenship by investment into real estate. The changes include the reduction of the minimum real estate investment amount to €2 million and the possibility to include the parents of the main applicant provided that an additional €500,000 + VAT will be invested in the purchase of a private residence in Cyprus.

By investing, you and your family members, become Cyprus / EU Citizens, holding the same rights as any other European citizen, such as freedom of movement, freedom of employment, etc. in any EU Member State.

Please note that our services include the handling of your application and other procedural aspects, so that you receive your passport in a timely manner. The investment must be retained for at least 3 years and thereafter this period you may, if you choose to do so, sell or retain the investment. Please do not hesitate to contact us should you require any further information or clarifications.

THE INSTRUCTIONS FROM THE MINISTRY OF INTERIOR

The Minister of Interior has decided on the preferential treatment for immigration permits categories F, (as it is stated in the Aliens Immigration Law of 1972 until 2004), which regards the citizens of third world countries who have purchased a house to use as their personal residence in Cyprus, and whole value is not less than €300.000. The immigration permit mentioned above, is also valid as a permanent permit in Cyprus and its holders are exempted from time consuming immigration procedures which are necessary for other categories of citizens of third world countries who wish to enter Cyprus (e.g. Consulate valuations, renewals of residency permits, re-entry permits etc.). [Preferably, the property must be written on the name of the Immigration Permit Applicant].

Cyprus Migration Policy Category F relates to people that are third-country nationals which will not be working in Cyprus but will remain in Cyprus as permanent residents. They must have at their disposal a secured annual income of at least €9600 euro and a further €4700 euro for every dependent person who may, for example, emanate from pensions, shares or even permanent deposits. This income however must not emanate from any employment or self- employment in Cyprus but only from abroad. The immigration control board may demand additional income if they deem necessary. Category F concerns persons who are citizens of a third world country and personally own at their full and free disposal a secured annual income of an appropriate amount, which is not derived from any work (employment nor self-employment) done in Cyprus, but from work that would be done abroad.

QUESTIONS ON CATEGORY F

Category F was initially directed to people that arrive in Cyprus and remain in Cyprus as tourists, with their income arriving from abroad.

During the peak of the financial crisis the Minister of Interior decided to combat the ongoing crisis by presenting a new regulation regarding Category F by providing incentives to third country citizens. Below is a quote from the original regulation that was decided on the 28 of May 2009.

The objective:
'This parameter is part of the efforts which the government is making to face the world financial crisis, especially to strengthen the real estate market in Cyprus, by increasing incentives of citizens of third world to purchase house'.

The decision:
'The Minister of Interior has decided on the preferential treatment for immigration permits categories F, (as it is in the Aliens Immigration Law of 1972 until 2004), which regards the citizens of third world countries who have purchased a house to use as their personal residence in Cyprus, and whole value is not less than €300.000.

The result:
'The immigration permit mentioned above, is also valid as a permanent permit in Cyprus and its holders are exempted from time consuming immigration procedures which are necessary for other categories of citizens of third world countries who wish to enter Cyprus (e.g. Consulate valuations, renewals of residency permits, re-entry permits etc.)'.

The application:
'Category F concerns person who are citizens of a third world country and personally own their full and free disposal a secured annual income of an appropriate amount, which is not derived from any work (employment nor self-employment) done in Cyprus, but from work that would be done abroad'. Therefore, Third Country Nationals that can quality for Category F should be: · Persons who posses 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 of profession. · The annual income required should be at least €9.600 for a single applicant and moreover at least €4.700 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. When the permit is issued:

  1. Temporary residence permit (pink slip)
  2. The applicants are allowed to apply for the permanent residency which gives them the right to reside for life

*Applicants that reside in Cyprus for 7 years and more can apply the Cypriot Citizenship. The approval for Category F applicants are subjects: To their applications and whether it qualifies and Upon the approval by Government Committee appointed to decided on this matter.

FORMS TO BE COMPLETED

  • Form M.67: Application for Immigration Permit under any of the Categories A to F, Inclusive, of Regulations 5 of the Aliens and Immigration Regulation Cap. 105
  • Affidavit

Relevant documents required after forms have been completed

  1. Notarised Passport Copy
  2. Curriculum Vitae
  3. Original Documents of Bank Deposits
  4. Original documents and Affidavit to prove income from other sources other than employment (e.g. income from shares, companies, property, industry)
  5. Original documents to prove the purchase of property in Cyprus (the contract is required that also states the price of the property)
  6. Documents that prove occupation
  7. Utility Bill (for example, electricity bill to prove the country of residence)
  8. House deed and any additional property deeds.
  9. Reference Letter from the foreign bank.
  10. Health Insurance Certificate (Resident in Cyprus).
  11. Certificate of Clean Criminal Record.
  12. Marriage Certificates.
  13. Birth Certificates.
  14. Two (2) photographs for each member in the family.

All documents must be translated to English language and stamped from the Cyprus embassy in your country.

Please feel free to navigate our properties portfolio and to find your dream property in Cyprus for your Permanent residence permit visa in Cyprus or for the Cyprus passport – EU Citizenship

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