Fast Track Permanent Residency: within 2 months

Regulation 6(2), Permanent Residency Permit to non-EU citizens seeking to invest in Cyprus.

The permit will provide the ability to travel within the EU with visa-free access to a number of Schengen countries.

The minimum eligibility requirements are as follows:

• Acquire a new (not resale) residential premise from a property development company in Cyprus worth a minimum of €300,000 (excluding VAT). The first €200,000 must be paid by the date of filing of the application.
• Open and maintain a fixed deposit of €30,000 in a Cyprus bank for three consecutive years.
• Maintain a secured annual income originating from outside of Cyprus of at least €30,000. (Such funds must be increased by €5,000 for each dependent, and €8,000 for each parent included in the application).
• Complete a ‘Fit and Proper’ test to show a clean criminal record certificate.
• The applicant will need to visit Cyprus once within the first year to register biometrics, and visit Cyprus every two years thereafter.

Normal Track Permanent Residency: within 1 year

Regulation 5(f), a third country national who rents or purchases a house or apartment which is worth a minimum of €300,000 may apply for permanent residency, provided that:

• They have a secured annual income of at least €10,000 approx. from sources outside of Cyprus. The amount is increased by €5,000 approx. per dependent added to the application.
• The applicant must not maintain employment in Cyprus and his or her income must derive from legal sources abroad;
• Provide evidence that all the financial needs of the applicant and their family are adequately catered for with a secure income.
• Complete a ‘Fit and Proper’ test to show a clean criminal record certificate.

Upon filing the application the applicant will be able to freely travel to and from Cyprus with no hindrances.

Permanent Residency Permit: Persons residing in Cyprus

Subject to the following:

• A legal resident in Cyprus for minimum 5 years.
• Holds a Temporary Residents Permit for the preceding 5 years.

NOTE: Family members of non-EU citizens living in Cyprus who are non-EU citizens themselves may also apply for a Permanent Residence Card which is valid for 5 years and can be extended.

Permanent Residency Permit for EU Citizens – 12 days (Yellow Slip)

Required for EU citizens seeking to reside and work in Cyprus permanently without the need to renew the permit, thus spending more than 3 months in the country.

NOTE: The applicant may also include members of the family who will be able to reside and work in Cyprus. Family members who are non-EU nationals will become eligible for the Pink Slip, a temporary and renewable document which is valid for 5 years.

• Naturalization scheme based on years of residence (type M127): A permanent resident of Cyprus, after completing five years (total of 1825 days) of legal stay in Cyprus, is entitled to apply for Cyprus Citizenship.
• Cyprus citizenship by marriage (type M125): Foreign spouses of Cypriots who completed 3 years of marriage and 2 years of residence in Cyprus before the date of the application are entitled to apply for citizenship.
• Cyprus citizenship due to the origin:
• Application for Consular Birth Certificate (type M121): Minors or adults born abroad after the 16th of August 1960 and whose father at the time of birth was a Cypriot citizen, and by those born after the 11th of June 1999, whose mother was a Cypriot citizen at the time of their birth.
• Application for Registration of Minors (type M126): Minors born before the 11th of June 1999 in Cyprus or abroad and whose mother is a Cypriot citizen and whose father is a foreigner or for minors whose father took Cypriot citizenship after their birth. Also, minors whose father or mother acquired Cypriot citizenship by Naturalization or registration due to marriage with a Cypriot citizen.
• Adult applicants – Application type M123: Adults born on the 16th of August 1960 or after and none of their parents at the date of their birth was a Cypriot citizen.
• GOLDEN VISA SCHEME

The Cypriot Golden Visa scheme has no residency requirements and there are no test or language requirements. The only requirement is that the residency permit must maintained at all times. It entitles its bearers to EU citizenship and visa-free travel to 168 countries worldwide, in addition to free movement throughout the EU with the right to live, work, study with all associated health care benefits. The approval period is normally 6 – 8 months and allows for the inclusion of the bearers immediate family – spouse and children up to 28 years of age (excluding parents and/or in-laws).

Qualifying Criteria:

• Purchase real estate property (either a single or multiple units) with a minimum value of €2,000,000 (excl VAT).
• Provide a donation worth at least €100,000 to the Cypriot Government Research and Development Fund.
• Provide a donation worth at least €100,000 to the Cyprus Land Development Corporation.
• Required annual income (generated abroad) of €50,000 per applicant, €15,000 per spouse, €10,000 for each of the applicants dependants.
• Annual submissions confirming that: the investment is still in place, that full income support is maintained, that insurances are in place for all parties, that a new clean criminal record certificate has been issued for all parties.

Eligibility Requirements:

• Not previously been denied citizenship to another EU country
• Not been associated with Companies or Legal entities restricted in the EU
• A clean criminal record
• Not been subject to criminal investigation
• Not been facing criminal prosecution
• Not been on the wanted lists of EUROPOL or INTERPOL
• Not be considered a “politically exposed person”