Cyprus Permanent Residence
 


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:

  1. Purchase of cyprus property for €300,000 and above
  2. Proof of annual income of €30 000 and €5 000 for every dependant (wife/husband and children over 18 years old)
  3. Open a cyprus bank account and deposit the amount of € 30 000 to be blocked for 3 years


OTHER REQUIREMENTS

  1. Clean Criminal Records
  2. Birth Certificates
  3. Marriage Certificate
  4. Passports
  5. Health insurance (international)
  6. 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.