Main requirements needed to gain Permanent Residence Permit in Cyprus within 3 months:
Please note the above information are only the main requirements needed. For more specific information on how to get Cyprus permanent residence permit by investment please see the below information.
The instruction 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 residency 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 (No work in Cyprus) of at least €10,000 euro and a further €5,000 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.
The applicant must prove of evidence of an annual income of at least €50,000. The amount must increase by €15,000 for the spouse and every additional child the amount of €10,000 for each dependent parent. Doesn't matter from where and how the income coming from, maybe is a salary from employment, maybe is from rent or a pension, or if is a company dividend from shares. But the most important must the income comes from abroad not from Cyprus. The buyer of the residency in Cyprus must prove the source of income which is very important factor for the government in Cyprus, which is also very important for European Union. So, if you would like to obtain and to be eligible for the permanent residency in Cyprus you MUST to prove it.
Most common questions and answers
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 (Non-European Citizens) and personally own their full and free disposal a secured annual income of an appropriate amount, which is not derived from any work employment or 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: 1) 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. 2) The annual income required should be at least €50,000 for a single applicant and moreover at least €10,000 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: A) Temporary residence permit (pink slip) B) The applicants are allowed to apply for the permanent residency which gives them the right to reside for life.
Please note: Applicants that reside in Cyprus for totally 7 years and more can apply for the Citizenship in Cyprus. 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.
Which application forms should be completed
Relevant documents required after forms have been completed for the permanent residence permit in Cyprus:
All documents must be translated to English language and stamped from the Cyprus embassy in your country.
Please note, our services include the handling of your application and other procedural aspects, so that you receive your residence permit visa in a timely manner. The investment must be retained forever and if you choose to sell your property, you must buy a new one over €300,000 or you will lose your permanent residence permit in Cyprus. Do not hesitate to contact us if you need more information or clarification.
Our associates are the keystone of our company for providing the ideal real estate solution for permanent residence permit by buying a property in Cyprus. Our team consists of lawyers, bankers, constructors and technical advisors, with specialized expertise in the real estate sector and also specialized in a immigration scheme programs for non eu citizens. We provide to our clients multiple services and solutions for they find the ideal property in Cyprus for secure investment. Step by step with our clients to achieve our goal for a secure real estate investment in Cyprus with diachronic value. Please feel free to navigate to our properties portfolio and choose from huge selections of properties in Cyprus your ideal property to buy in Cyprus.