Cyprus Residence Permit – Category F
All you need to know about obtaining a residence permit in Cyprus
This is a permit, which grants PERMANENT RESIDENCE WITHOUT RIGHT TO WORK in the Republic of Cyprus. It concerns NON EU NATIONALS.
This permit is also granted to the spouse and minor children (under the age of 18) of the holder.
The Cyprus government have introduced a new and accelerated procedure for granting an Immigration Permit to applicants who are third country nationals and intend to invest in the Republic of Cyprus.
1. According to the provisions of Regulation 6(2) of the Aliens and Immigration Regulations, the Minister of the Interior decided to issue an Immigration Permit to applicants, who are third country nationals, provided that they fulfill the following criteria:
(α) The applicant must prove that he has at his disposal a secured minimum annual income of €30.000, from sources other than employment in Cyprus. The required income of €30.000 could derive from salaries of employment abroad and not in Cyprus, pensions, stock shares, rents, etc. The necessary minimum annual income is increased by €5.000 for each dependent person.
(b) The applicant must submit the application form accompanied with a Title of ownership or contract of sale, of a property in Cyprus, a house, apartment or other building, of a minimum market value of €300.000 and proof of payment for at least €200,000. The contract of sale should already have been submitted to the Department of Lands and Surveys.
(c) The applicant must submit a confirmation letter from a Cypriot Bank stating that he has deposited a minimum capital of €30.000 in an account, which will be pledged at least for a three year period.
It is noted that the amounts mentioned in paragraphs (b) and (c) should be proven to have been transferred to Cyprus from abroad.
(d) The applicant must submit a Criminal Record Certificate (if the applicant resides abroad), which must be issued by the Authorities in his country of origin, and he should not constitute in general any threat against public order or security in Cyprus.
(e) The applicant should submit a Statement that he does not intend to work or be engaged in any form of business in Cyprus.
(f) The applicants should visit Cyprus at least once every two years.
It is estimated that when applying for the procedure described above, the period for the examination of the application, shall not exceed a period of 1-2 months.
Immigration Permit Required Documents / Certificates under Reg. 6(2)
1. Copy of valid passport.
2. Copy of valid temporary residence permit (if the applicant resides in Cyprus).
3. Curriculum Vitae (including academic qualifications).
4. Statements of deposits in a Cypriot Bank account, of a minimum capital of €30.000 (original).
5. Declaration of a secured annual income of a capital of €30.000 at least, from sources other than employment in Cyprus (original documents and affidavit). The necessary annual income is increased by €5.000 for each dependent person.
6. Title of ownership or contract of sale of a built property in Cyprus of a minimum market value of €300.000 (original or true copy). If the title of ownership has not been obtained yet, the applicant must submit the contract of sale duly stamped by the Stamps Commissioner and the Department of Lands & Surveys and proof of payment for at least €200,000.
7. Official Statement by the applicant that he/she does not intent to work or be engaged in any form of business in Cyprus.
8. Health Insurance Policy.
9. Criminal Record Certificate (if the applicant resides abroad, the certificate must be issued from his country of origin, and submitted with an official and certified translation into Greek).
10. Marriage Certificate (official and certified translation) (if applicable).
11. Children’s Birth Certificates (official and certified translation) (if applicable).
12. Other documents which are submitted with the application.