Permanent Residence Permit in Cyprus

A simplified and fast-track procedure for obtaining a permanent residence permit is only provided for buyers of new properties of the value at least €300,000 excluding VAT.

Investment Criteria

Fast track Residence Permit may be obtained through a secure property investment, the financial criteria are as follows:

The Purchase Price must be at least 300,000 Euro (not including VAT) sold for the first time.
At least 300,000 Euro (not including VAT) should be paid to the Vendor.
Proofs of transfer of 300,000 Euro (not including VAT) from abroad must be provided.
The applicant should also have a deposit of €50.000 pledged in a bank account in Cyprus for every year following the permit.
The applicant should prove that has at disposal a secure annual income of at least €50.000.

Application Criteria

In addition to make a financial investment applicants must also meet the following criteria/supply the following documents:

Passport

Curriculum Vitae

Children’s Birth certificates

Police clearance certificate from country of origin

Marriage certificate (if applicable)

Official Statements by the applicant and his/her spouse that they do not intent to undertake any sort of employment in Cyprus.

Health Insurance Policy for the applicant and his/her dependents

Major Benefits

FAST & EASY PROCESS

Residence permit is issued within 2-3 months.

PERMANENT VALIDITY

Cyprus residence permit has life-long validity. No renewals needed.

GRANTED TO ALL FAMILY MEMBERS

Residence permit is granted to the applicant, the spouse and children up to the age of 18.

ZERO DAYS

No requirement to stay in Cyprus other than to visit the island once every two years.

The Process

1

Applicant must gather all necessary papers required for application. The documents must be officially translated into Greek or English and certified with apostille (if in a country which has signed the Hague Convention of 1961) or stamped by the Ministry of Foreign Affairs and relevant Cyprus Embassy.

Selected property/ies (through visit to Cyprus or via correspondence). Sign purchase agreement and transfer funds to a secure account. Receipt issued by developer, which is required for application.

2

3

Payment of submission fee €500 for the applicant.

Application lodged, together with the property purchase agreement and all required documents, at the Civil Registry and Migration Department (CRMD).

4

5

Fast Track Residence Permit form CRMD within a 3 month period.

Applicants must visit Cyprus after receiving approval to provide authorities with their Biometric Data and to collect their Residence Permit Cards.

6

7

The Immigration Permit issued to an applicant covers his/her spouse and children under the age of 18.