Cyprus Immigration Services – Permanent Residency
Application Requirements for a Cyprus Immigration Permit
- The applicant must prove that he has at his disposal a secured annual income of at least €30.000 from sources other than employment in Cyprus, such as from:
- Wages for work outside Cyprus,
- Pensions,
- Dividends,
- Stock shares,
- Fixed deposits,
- Rents etc.
- The applicant must submit his application accompanied with a title deed or contract of sale of an immovable property in Cyprus, worth at least €300,000 (excluding VAT) and official proof of payment of the amount of at least €200,000. The said purchase must be sold for the first time by a development company.
- The applicant must provide a certificate/confirmation letter issued from a Cyprus Bank that he has deposited a fixed minimum amount of €30.000. – In an account in Cyprus for a minimum period of 3 years.
- The applicant must submit a Criminal Record Certificate, which must be certified by the Cyprus Embassy in his country of origin or apostilled and the applicant should prove that he would not constitute a threat to the public order or the public safety in any way.
- The applicant and his wife should submit a declaration that they do not intend to be employed directly or indirectly in Cyprus, paid or unpaid. The above does not preclude the applicant or his/her dependents from being a shareholder in a Cyprus registered company, which operates in Cyprus.
- He should visit Cyprus at least once every two years. If the above criteria are met and provided there are no reasons relating to either the criminal record of the applicant, or grounds of public policy and public security, the application will be examined by the Minister of Internal Affairs in a positive way and an immigration permit will be issued. The period of examination will not exceed 2 months from the date of its submission.
This annual income is increased by €5.000 for each dependent person. A dependent person is either the wife of the applicant or the children under 18. Adult Children should submit their application independently and must meet all the criteria without exception.
Categories of Cyprus Permanent Resident Permit
- Category A: Individual with a capital of €.430.000.- who intends to work as self-employed in agriculture, cattle breeding, bird breeding or fish culture in Cyprus, provided that he has in his possession adequate land or a permit to acquire same and such an employment should not negatively affect the general economy of Cyprus.
- Category B: Individual with a capital of €.350.000.- who intends to work as self-employed in mining enterprises in Cyprus, provided that a permit for mining is secured and such an employment should not negatively affect the general economy of Cyprus.
- Category C: Individual with a capital of €.260.000.- who intends to work as self-employed in a trade or profession in Cyprus, provided that a relative permit is secured and such an employment should not affect negatively the general economy of Cyprus.
- Category D: Individual who intends to work as self-employed in a profession or science in Cyprus, with academic or professional qualifications, for which there is demand in Cyprus. Possession of adequate funds is also necessary.
- Category E: Individual who has been offered permanent employment in the Cyprus, which will not create undue local competition.
- Category F: Individuals who possess and have fully and freely at their disposal a secured annual income, high enough to give them a decent living in Cyprus, without having to engage in any business, trade or profession. The annual income required should be at least €9568,17 for a single applicant and moreover at least €4613,22 for every dependent person, but the Immigration Control Board may demand additional amounts as necessary.
Conditions for Cancellation of a Cyprus Immigration Permit
- The interested person fails to acquire residence in Cyprus within one year from the approval of the application, in case he/she is residing outside Cyprus.
- It will also be cancelled if he/she acquires permanent residence abroad or be absent from Cyprus for a period of two years.