Obtaining a residence permit and types of residence permit

Our company will be happy to be useful to you for obtaining a residence permit through the purchase of real estate. Our experts will help you at all stages necessary for this.

Types of residence permit and required actions and documents:

A prerequisite is the opening of a bank account.

To open a bank account in Cyprus, you must provide the following documents:

1. avalid passport;
2. summary about you;
3. certificate of income and any other documents that confirm the legal origin of the source of income;
4. a statement from any current bank account that shows your income deposits;
5. a utility bill, as proof of your place of residence.

Legal requirements for obtaining a permanent residence permit under a simplified procedure

1. Purchase of new real estate (or several objects) worth at least 300,000 euros (excluding VAT), of which 200,000 euros must be paid before applying for a residence permit

2. Proof of stable income from abroad (salary, pension, rent, dividends) in the amount of 30,000 euros plus 5,000 euros for each dependent, plus 8,000 euros for each parent of the applicant and / or spouse/and the applicant

3. A declaration confirming that the applicant does not intend to carry out work or any other form of business in Cyprus, except for the management of his own company

4. Certificate of no criminal record of the applicant and dependents over 18 years of age

The application will be reviewed by the Department of Civil Registration and Migration, and submitted to the Minister of the Interior for decision. The term of consideration of the application does not exceed 2 months (approximately).

For a temporary residence permit, you need:

Thepersonal presence of the applicant and his family members on the day of submission of the documents;

• Income statement confirming the legal origin of the source of income;
• Bank account in Cyprus;
• Bank guarantee;
• Medical insurance;
• Bank statement (Cyprus) indicating the arrival of money from abroad;
• Housing in Cyprus (lease or sale agreement);
• Valid international passport;
• Marriage certificate and birth certificate of minor children.

Permanent residence permit in Cyprus in category F

A permanent residence permit in Cyprus can be obtained by persons who purchase real estate in Cyprus

The main advantage of this category of F for real estate buyers is the prospect of obtaining a permanent residence permit, as well as under a simplified procedure, but the applicant invests and spends less money in exchange for a longer wait for the result

In particular, obtaining a permanent residence permit in this case may take about 9 months (approximately) from the date of application

MAIN CONDITIONS AND DIFFERENCES:

• there is no limit to the minimum value of the property for investment, but the higher the value of the property, the more likely the positive result of the application;
• there are no requirements for the purchase of primary real estate;
• you do not need a fixed deposit of 30,000 euros in a Cyprus bank;
• owners must visit Cyprus once every 2 years at least;
• permanent residence for life

REQUIREMENTS:

• The applicant must own real estate in Cyprus;
• Have at your disposal sufficient annual income, which should come from legal sources from abroad (pensions, deposits, business activities, shares, rent, etc.). The minimum annual income is from 10.000 euros for one applicant and from 5.000 euros for each dependent;
  Certificate of absence of criminal record of the applicant and dependents;
• No intention to engage in employment, business, or trade other than running your own company;
• Statement of cash flow from a Cyprus Bank account. The account balance must be at least 20,000-30,000 euros, depending on the composition and needs of the family

Permanent residence permit in Cyprus in category F applies to the applicant, his / her spouse, unmarried dependent children under the age of 18.