Cyprus Permanent Residence VISA (Permit) / What it is?
- A permit given to third country nationals which is valid forever – it grants easy access to cyprus without the need to issue a visa
- Applies to people from third countries with a secured minimum annual income who purchase a property in cyprus
Getting a Cyprus VISA / How?
ONLY 3 main Requirements:
- Purchase of cyprus property for €300,000 and above
- Proof of annual income of €30 000 and €5 000 for every dependant (wife/husband and children over 18 years old)
- Open a cyprus bank account and deposit the amount of € 30 000 to be blocked for 3 years
- Clean Criminal Records
- Birth Certificates
- Marriage Certificate
- Health insurance (international)
- Statement of no intention to work in Cyprus
Fast Track Procedure - REG 6(2)
New regulation for a fast-track procedure for acquiring the cyprus permanent visa – it only takes 1-2 months
- August 2012 amendment of the aliens immigration law of 1972/2012
- Easier and faster procedure for acquiring a permanent cyprus visa
Some Important Facts
- It is a requirement to submit, together with the application, a registered contract of sale and a confirmation that the amount of at least € 200 000 has paid or 80% of the property’s value
- It is not compulsory for the applicant to be in Cyprus
- In order for the Visa to be valid, the applicant and his/her dependants must visit Cyprus at least once every two years.