Cyprus Residency

LONG – TERM IMMIGRATION PERMITS

Long–term permits can be obtained on the basis of one of the categories which are provided for under regulation 5 of the Aliens and Immigration Regulations 1972 and specifically:

Category A: Persons who intend to work as self-employed in agriculture, cattle breeding, bird breeding or fish culture in the Republic, provided that they have in their possession adequate land or a permit to acquire same, they have fully and freely at their disposal capital of approximately €430,000 (CY£250,000) and such an employment should not affect the general economy of Cyprus.

Category B: Persons who intend to work as self-employed in mining enterprises in the Republic, provided that they have in their possession a relative permit, they have fully and freely at their disposal capital of approximately €350,000 (CYP200,000) and such employment should not negatively affect the general economy.

Category C: Persons who intend to work as self-employed in a trade or profession in the Republic, provided that they have in their possession a relative permit, they have fully and freely at their disposal capital of approximately €260,000 (CY£150,000) and such an employment should not affect the economy.

Category D: Persons who intend to work as self-employed in a profession or science in the Republic, provided that they have academic or professional qualifications for which there is demand in Cyprus. Possession of adequate funds is also necessary.

Category E: Persons who have been offered permanent employment in the Republic, which will not create undue local competition.

Category F: Persons 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 €9,568.17 (CY£5,600) for a single applicant and moreover at least €4,613.22 (CY£2,700) for every dependent person, but the Immigration Control Board may demand additional amounts as necessary. Most applicants come under this Category, the majority of them being pensioners or retired persons

The Category F permit is amongst the most popular with non-EU citizens who acquire holiday property in Cyprus. It is issued for a period of 5 years and afterwards can be renewed. The permit can be granted to the spouse of the applicant and their minor children until the age of 18 years old and in some exceptions until the age of 25 years old, for example, if the children are studying under certain circumstances.

The permit can be revoked when the holder of this Permit was granted permanent Residence Permit in another Country other than the country of his nationality, if the applicant fails to acquire nationality within a year from the approval of the application or when the applicant is absent from Cyprus for a period longer than 2 years continuously.

This type of permit is granted to Non –EU nationals who have at their disposal a SECURED ANNUAL INCOME, which must be derived from legal sources from abroad ie. from pensions, permanent deposits, business activities, ownership of companies, shares etc.

Limitation:  Holders of this Permit are not entitled to work in Cyprus however holders of this Permit may own a Cyprus Company and receive dividends from its profit.

The permit can be obtained either by the procedure provided under Regulation 5(f) which takes 5-12 months approximately or through the new accelerated procedure provided by regulation 6(2) which takes up to 3 months.

The requirements for the accelerated procedure are the following:

1.  The purchase price must be at least €300,000 (not including VAT) and at least 2/3 of the purchase price must have been paid ie. €200,000 plus VAT.

2.  Proof that the amount paid against the purchase price derived from abroad must be provided.

3.  It must not be a re-sale and the vendor must be a Developer

4.  Contract of Sale must be deposited at the Land Registry

5.  It is possible to buy two properties but they must be from the same developer.

For example:

  • House (or apartment) + house (or apartment)
  • House (or apartment) + shop up to 100 m2
  • House (or apartment) + office up to 250 m2

6.  The property could be purchased in the name of the Company under the following conditions:

  • Company must be registered in Cyprus
  • Applicant or his spouse (or both) must be the only shareholders and his/their name/ names should appear in the certificate of the shareholders of the Company. Trust deed will not be accepted.
  • If the shareholder of this Company is another Company, it should be proved that only shareholder of that Company is the applicant (his spouse or both)

7.  The applicant should prove at least €30,000 of income for himself and plus 5,000 Euro for each dependent on him family member which is derived from abroad and not Cyprus. The amount of €30,000 should be deposited in a Cypriot Bank and blocked for 3 years. Proof that the €30,000 was transferred from abroad must be provided.

8.  An affidavit of the applicants that they will not engage in any professional activity in Cyprus. Income from dividends from a Cyprus Company of the applicants is not considered as a violation of the said requirement.

9.  A clean criminal record translated in Greek or English.

10.  Health Insurance for the applicant and any dependable person on the applicant.

All translations must be certified by a translator and must be duly legalized by apostil. If the Country, which issued the official document is not a party on the Hague Convention of 5 October 1961, abolishing the requirement of legalisation for foreign public documents, then the document must be legalized by the Ministry of Foreigner Affairs or the Cyprus Embassy of that country.

Note that the above conditions should be met for the accelerated procedure under section 6(2) of the regulations. Persons who have bought property in Cyprus for less than €300,000 can apply for the procedure under regulation 5(f) of the regulations.

The main differences between the two procedures is that under article 6(2) 2/3 of the purchase price must be paid whereas under article 5(f) 30% plus VAT must be paid and under article 5(f) there is no requirement to have the amount of €30,000 deposited in an Bank account.

The fee for the application is €500 which is paid by the applicant simultaneously with the lodging of the application.

Our qualified professionals have years of experience in the field and can assist you with both procedures.

EUROPEAN NATIONALS

EU Nationals and their family members can be granted permission to reside in Cyprus according to the Right of Union Citizens and their Family Members to Move and Reside Freely within the Territory of the Republic of Cyprus Law of 2007, ANNEX II, Article 10(4) (a-c) and (6).

The application (MEU1A for the EU national and EU family members, MEU2A for the non-EU family members and MEU3A for granting permanent residence cards to non – EU family members) is lodged together with the following documents on the day of the appointment with the officer in charge at the Migration Office in Nicosia or the District Immigration Office:

1. The relevant application form fully completed and signed

2. Copy of passport

3. Birth Certificate

4. Marriage Certificate

5. Proof of residence in Cyprus ie. Contract of Sale or Tenancy agreement

6. Employment Contract or if pensioner proof that the applicant is receiving pension from abroad

7. A document attesting to the existence of a family relationship.

8. Two passport size photographs

9. Health care insurance

10. In the case of a spouse of a Union citizen and direct dependents under 21 or who are dependents of the citizen and those of the spouse, proof of existence of a family relation and that said family members are dependents.

11. A fee of £5,00 (€8,54) for the Union citizen and £10,00 (€17,09) for each family member citizen of a Member for MEU1A

12. The fees payable are £20,00 (€34,17) for MEU2A and MEU3A.

Note that extra documents can be requested upon the specific circumstances of the applicant.

All the documents issued by a foreign authority should be translated to either Greek or English and be duly authenticated (They should bear the stamp «APOSTILE», if they are issued by countries that have signed the Hague Convention, otherwise they should be sealed by the Ministry of Foreign Affairs of the issuing country and the diplomatic mission of the Republic of Cyprus in the issuing country).

The applications MEU1A and MEU2A must be submitted within 4 months from the arrival date.

The application MEU3A must be submitted within 1 month from the expiration of the Residence Card.