Our immigration team can assist you obtaining a Cyprus Permanent Residence Permit. We have excellent relations with all major Cyprus banks, consultancy companies, worldwide law firms, real estate agents and developers, thus our team is able to help you with all areas of your move to Cyprus.

Permanent Residence PermitBelow you can find all the details of what’s needed to obtain a Permanent Residence Permit

PERMANENT RESIDENCE PERMIT – REGULATION 6 (2)

ACCELERATED PROCEDURE

The accelerated procedure for the Permanent Residence Permit (PRP) applies to third country nationals and their family members who wish to have the option to permanently reside in Cyprus and even be able to apply for the Cyprus passport based on the years of stay and not via investment.

The procedure of obtaining the PRP is simple and fast. The applicant should satisfy the following criteria.

Criteria:

  1. 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 and by €8.000 for every dependent parent and parents-in-law of the applicant.
  2. The applicant must submit the application form accompanied with a Title(s) of ownership or contract(s) of sale of a property(ies) in Cyprus, of a minimum market value of €300.000 plus VAT and proof of payment of at least €200,000 plus VAT.
  3. The applicant must submit a confirmation letter from a Cypriot Bank stating that he has a fixed three-year deposit of €30.000.
  4. It is noted that the amounts mentioned in paragraphs (2) and (3) should be proven to have been transferred to Cyprus from abroad.
  5. 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.
  6. The applicant should submit a Statement that he/she does not intend to work or be engaged in any form of business in Cyprus.
  7. The applicant should visit Cyprus at least once every two years.
  8. The applicant and family members should visit Cyprus any time from the submission of the application until the date of its issuance for the provision of biometric data.

Applicants must also submit:

  1. a) Copy of valid passport
  2. b) Copy of valid temporary residence permit (if the applicant resides in Cyprus)
  3. c) Curriculum Vitae (including academic qualifications)
  4. d) Proof of Health Insurance.

PROCESSING TIME

The relevant authorities aim at granting the permit within a period not exceeding two months from the date of submission.

OPTIONS FOR FAMILIES: 

  1. Spouse of the applicant is entitled to apply simultaneously with the applicant for the acquisition of the PRP.
  2. Parents of the applicant and the spouse of the applicant are entitled to apply for the acquisition of the PRP once the applicant has acquired the PRP.  They do not need to invest but the applicant will have to prove annual income of €8.000 per parent.
  3. Children

3.1    Under the age of eighteen are eligible to apply for PRP simultaneously with the applicant.

3.2    Over the age of eighteen.  

Unmarried children aged between 18 and 25, who may prove that they are students or undergraduates and are financially dependent on the applicant, may submit a separate application to obtain a PRP. In such a case, the father or mother and/or both parents together must present an additional annual income of €5.000 for every such dependent child. The said permit is still valid even if the holders have exceeded the age of 25 years old and even if they do not remain unmarried and/or students and/or financially dependent on their parents. Future spouses or underage children cannot be included as dependent persons on this permit.