PERMANENT RESIDENCE IN CYPRUS
EXPEDITED PROCESS

 

Key Questions & Answers

 

A new and accelerated procedure for granting an immigration permit according to the provisions of Regulation 6(2) of the Aliens and Immigration Regulations has been introduced by the Minister of Interior for applicants that are third country nationals and invest in Cyprus.

 

 

Why apply for it?

 

· It gives you, a non-EU national, the right to permanently reside in Cyprus.

· Exempts you from immigration entry procedures (i.e. visitor’s visa).

· The permit is granted for an indefinite duration. 

· Your family can also obtain it.

 

 

What are the criteria?

 

You must have:

· Purchased in Cyprus one or two new real estate properties with total purchase cost of at least €300,000, excluding VAT. Properties can be two residences or one residence and one office or one residence and one shop.  At least €200,000 of the purchase cost must be settled at the time of the application.

· A secure and steady annual income of at least €30,000. This income should derive from abroad and may include salaries from employment, pensions, dividends from shares, fixed deposits and rents. You must confirm however that you do not intend to be employed in Cyprus. 

· Deposited funds transferred from abroad (minimum amount €30,000) in a bank operating in Cyprus in a 3-year fixed deposit account.



Are there any language or other similar restrictions?

 

· You must have a certificate of clean criminal record from your country of residence.

· There are no restrictions relating to the ability to speak Greek.

 

Am I required to stay in Cyprus?

You are not required to stay in Cyprus. However, you must visit Cyprus at least once every two years. 

 

Can my family join me in Cyprus?

Yes. Your spouse, children under 18 years old and financially dependent children up to 25 years old may also be granted an immigration permit. The annual income stated in paragraph 2 above should increase by €5,000 for every dependent person.

 

 

What is the procedure and the time frame for completion?

The application is submitted to and processed by the Civil Registry and Migration Department (CRMD). Then it is submitted to the Minister of Interior for final approval. An interview with the applicant shall take place only if deemed necessary by the Ministry of Interior.  The time frame for the completion of the process is maximum 2 months.

 

 

What’s next?

In order to proceed to a more specific review of your case, please contact your Client Service Officer.  

 

Clarion can help you:
If you wish to apply for a Cypriot Citizenship or Residence Permit, or you need more information or clarification on any of the above,  please communicate with our staff in Clarion BC

 

 

 DISCLAIMER: The information in this note is intended for general awareness and does not represent legal advice. Any liability for any loss resulting from acting on the basis of this information is expressly disclaimed.