Permanent Reisdence Permit can be obtained through purchasing property in Cyprus or can be granted to applicants (and their family members) who have legally resided in Cyprus for a continuous period of more than 5 years. The whole process is simple and fast. It primarily requires an investment of a minimum of € 300.000 on immovable property in Cyprus.
Requirements & Conditions (Fast Track):
- Only 2 months from the date of the submission of the application.
- No need to reside in Cyprus as long as the applicant and his family included in the immigration permit, visit Cyprus at least once every 2 years.
- The applicant should be an owner of a property (sold for the first time by a development company) in Cyprus, a house, an apartment or any other building for a minimum value of € 300.000 + VAT.
-The immigration permit issued to an applicant covers his spouse and children under the age of 18. The said permit is also applicable for unmarried children aged 18 to 25 who may prove that they are students at a University and are financially dependent on the applicant. The said permit will be valid for life after the age of 25 without any other supportive document.
- Documentation as proof that the applicant and/or his spouse have a secured minimum annual income of € 30.000 (increase by € 5,000 for each dependent person) from sources originating from abroad.
- The parentsof the main applicant and those of his spouse are also able to apply and obtain the Permanent Residence permit by just showing an extra € 8,000 each on the main applicant's income certificate.
-The applicant should submit a confirmation letter from a financial institution in Cyprus that he has deposited a minimum capital of € 30.000 into a account which will be pledged for a period of at least 3 years. It must be proved that the said amount has been transferred to Cyprus from abroad.
- The applicant and his family included in the Immigration Permit must submit with their apllication all documantations needed as per the checklists provided by the Cyprus Government.
- The applicant and his spouse shall confirm that they do not intend to be employed in Cyprus but it is to be noted that the applicant and/or his spouse may be a shareholders in a company registered in Cyprus and the income from the dividends of such a company in Cyprus are not deemed an impediment for the purpose of obtaining an immigration permit.
Requirements & Conditions (Category F):
- An application takes 10-12 months.
- Under this category you do not have to make any fixed deposit.
- Any property either new or resale is abmissible.
- Children under 18 when they become 18 lose their Permanent Residency status and they cannot get it later unless they purchase a property and apply separately themselves.
- The parents of the applicant cannot secure Permanent Residency under this category.