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Cyprus Permanent Residency

Cyprus Permanent Residency

The procedure through which a person can obtain Cyprus permanent residency is regulated under the rules of the Aliens and Immigration Regulations. Once a foreigner has obtained the permanent residence permit, then he or she will not be required to renew the document, as it does not have an expiration date, as it is the case of the temporary residence permit.

Please mind that if you will arrive here under a temporary residence permit, you must observe the new regulations that are in force in 2024. Thus, you must be aware that starting with 1 January 2023, an applicant for a temporary residence permit must make the proof of having an income of minimum EUR 2,000 per month (this was not required before 2023 – the requirement is still applicable in 2024).

The formalities for obtaining a Cyprus residence permit can vary based on the nationality of the applicant, who can be a natural person relocating to Cyprus or a businessman starting a company here or investing in real estate properties.

Read below a number of questions about residency in Cyprus presented by our team. We also discuss the possibility to apply for citizenship by investment in Cyprus in this article. If you would like to move to another EU country, for example immigrating to Estonia, we can put you in contact with our partners – LawyersEstonia.com.

Besides this option, citizenship in Cyprus can also be acquired based on other legal grounds. For instance, one can obtain citizenship by being married with a Cypriot national.

Most common way to acquire it is by naturalization, after a foreigner becomes first a permanent resident of this country. A foreigner is entitled to apply if he or she has Cypriot descendance.

Citizenship in Cyprus obtained by being married to Cypriot national is a direct route to citizenship compared to the process of naturalization. It can be obtained if the spouse are married for minimum 3 years.

In all cases, all foreign applicants must pay a processing fee charged by the institution and for citizenship by marriage, the fee is of EUR 300.

In this case, the foreign citizen must be the holder of a residence permit in Cyprus. The residency requirements are of 2 years of stay in this country, but there is also the option where the foreigner doesn’t have to respect any residency rules, as the person lives overseas.

Our immigration lawyers can present the legal framework concerning this latter legal option.

Is the permanent residence permit necessary for EU citizens in 2024?

Citizens of the European Union (EU) who are moving to Cyprus on a long-term basis will need to apply for a permanent residence permit if they want to obtain residency in Cyprus. Although they do not have to comply with other immigration requirements upon their arrival, such as obtaining a visa or applying for a short-term residence permit, they do have to complete specific legal obligations for Cyprus permanent residence, which can be presented by our team of lawyers. In case you are interested in obtaining a permanent residence permit in Spain, we can put you in contat with our local partners.

 Quick Facts  
  Temporary residence permit types in Cyprus Startup investments, general employment, digital nomads, visitors, students, researchers, volunteers, trainees, temporary protection for refugees and asylum seekers, family reunification.  
Time needed to obtain the temporary residence permit (approx.) It depends on the purpose of stay. Residence permits issued for employment purposes can be issued in a period of 3 months.  

Temporary residence permit validity

 It also varies based on the type of permit, but in general, the validity is of 1-2 years.  
Documents for obtaining temporary residence

– the application form;
– the identity document and travel documents of the applicant;
– documents attesting the living arrangements in Cyprus;
– a bank statement showing that the applicant has sufficient financial funds to live here;
– a valid health insurance.  

Mandatory registrations with state authorities (i.e. with the population/municipality register) Civil Registration and Migration Department, through the local police office dealing with immigration matters.  
Dependents can join the temporary permit holder (Yes/No)

Yes, but it depends on the permit the foreigner has. 

Temporary or permanent residency for investment purposes Yes, both temporary and Cyprus permanent residency are possible through investments.  
Type of investments available for residency purposes Investment in a startup business, an investment of minimum EUR 300,000 (investments in residential property)
Minimum investment amount For the Cyprus permanent residency the minimum amount invested is EUR 300,000 (the applicant must also show evidence of having at least EUR 30,000 in a bank account, for personal spending). 
Minimum temporary residence before applying for permanent residence Cyprus permanent residency can be obtained after living in this country for 5 years. 
Residency for individuals married to a citizen of the country  Permanent residency can be acquired after 2 years of stay in Cyprus and 3 years of marriage.  
Documents for obtaining permanent residence  – Identity documents;
– travel documents;
– health insurance;
– proof of stable income;
– information about the residential address in Cyprus;
– documents for which the permanent residency is required (marriage, family reunification, work, etc.);
– application form.  
Naturalization requirements  The foreigner must be a permanent resident of Cyprus and must have been living in this country for minimum 7 years before the application for citizenship is started.  
Citizenship after permanent residence  A person must be a permanent resident in order to obtain citizenship (permanent residency is usually acquired after 5 years of stay).  
 Dual citizenship permitted (Yes/No) Yes 

The application for permanent residency has to be done after five years of uninterrupted stay in Cyprus. According to the Civil Registry and Migration Department, the right to Cyprus permanent residence can be lost, even in the case of EU citizens, but only in the situation in which they are absent from this country for a period longer than two consecutive years. After becoming a permanent resident, the foreign citizen may also request the issuance of the Cypriot citizenship, in given conditions.

The right to Cyprus permanent residency is available for persons who are employed in a company or are self-employed, persons who have worked here and who have reached the retirement age, persons who have worked in this country for at least two consecutive years and who are unable to work due to permanent incapacity as a consequence of a work accident and other categories of persons; our team of Cyprus immigration lawyers can present more details on the employment regulations addressed to foreign citizens. If you would like to move to Portugal and obtain residency, we recommend our partners who are experts in immigration matters such as residency, citizenship, investment visas – Immigrate-Portugal.com.

This represents one of the ways in which a person, from the EU or from outside the community, can obtain permanent residence permit in Cyprus. This is also the most common procedure applied by natural persons. The other option of attaining Cyprus permanent residency is through investment, an option which grants a set of advantages, including a fast completion of the procedure. Investors can receive information on the investment program from our Cyprus immigration lawyers.

Non-EU nationals can also apply for a permanent residence license if they can prove that they can provide for themselves and their families and if they have lived for 5 consecutive years in Cyprus. Permanent residence permits in Cyprus have categories and requirements exist for each category as follows:

– the first category is for people that have a bank account in a Cypriot bank, a real estate purchase contract and annual income of at least 9,600 EUR for each member of the family;
– the second category is for investors interested in setting up a companies in Cyprus;
– the third category is also for investors, but for those wanting to open a business division. These investors will have to inject a minimum capital of 255,000 EUR (in 2023, the required investment has been increased to EUR 300,000 and this sum of money is required for investments in 2024 as well);
– the fourth category is for employees.

The following documents must be submitted in order to receive a permanent residence permit in Cyprus:

– passport;
– copy after the property acquisition contract;
– copy after the payments to the seller of the property;
– a copy after a bank statement;
– documents proving incomes;
– four passport-size photographs
– a guarantee letter from the bank in Cyprus.

If you need support in applying for a residence permit for Cyprus in 2024, our immigration lawyers are at your service.

What are the advantages of permanent residence through investment in Cyprus?

Foreign investors can acquire permanent residence permit in Cyprus much faster compared to the procedure presented above. Provided that they will purchase a property in Cyprus, they will be able to obtain Cyprus permanent residence permit for themselves and their family (spouse, children with an age of up 25 years old and even parents). The entire process can be completed in a period of two months, the following being necessary:

purchase a residential property in Cyprus that has a value of at least EUR 300,000;
• this value does not include value added tax, which can be charged at rates of 5%, 9% or 19%;
• when the purchase is made, the foreigner has to pay EUR 200,000 as an initial deposit;
• the person must also open a bank account at a local bank in which he must have a deposit of at least EUR 30,000, for minimum 3 years; we can give you more details about this condition for obtaining a Cyprus residence permit;
• the person must have an income of at least EUR 30,000 per year, from foreign sources;
• the sum established for each family member was EUR 8,000, if the family member was a spouse or parent (this requirement was applicable up until 2023, but those who want to apply for this visa program in 2024 must prepare EUR 10,000 for each dependent family member).

Once these financial aspects are secured and the purchase was made, the person can apply for Cyprus permanent residency with the Civil Registry and Migration Department. The application sent to the institution will be further analyzed by the Ministry of Interior, which will provide an answer in a period of two months. After the institutions will provide their answer, which is, in most of the cases, a positive one, the applicant and his or her family are required to visit the country in a period of one year since the approval was made in order to receive the Cypriot residence permit. This can also provide the right to apply for the Cypriot citizenship, if the person wants to become a citizen of this country.

It is worth knowing that this type of program does not require relocating to Cyprus, but it is advised to visit the country for a short period of time every two years, as an absence longer than two years from the country can lead to the revocation of the Cyprus permanent residency.

The law states that a persons who has received the right to long-term residency (through other means outside investments) is required to maintain a certain number of total days of stay in the country during the first 5 years of stay. As such, it is necessary to know that a long-term resident can’t be outside Cyprus for a period of more than 6 months at a time, and, overall, not more than 10 months during the 5 years stay.

Besides the conditions that we have presented above, foreigners who want to obtain a Cyprus residence permit in 2024 have to know that additional requirements became applicable starting with 24th March 2021. The new rules aim at those who will apply for a permanent residence permit through investments and you can address to our immigration lawyer in Cyprus for in-depth advice on each of the conditions imposed by the Cypriot authorities.

For those seeking to invest in Cyprus in 2024, there is also the possibility of starting a local business or purchasing shares in a company already registered here. There are specific conditions for the issuance of the residence permit by investment, among which we mention hiring 5 employees.

Below, you can watch a short video on Cyprus permanent residency procedure:

Cyprus permanent residency through the F Category

Category F represents one of the legal pathways through which a person can obtain a permanent residency in this country. The minimum requirements are different that the ones for other legal pathways presented in this article, and they impose much lower thresholds and very flexible options for the foreigner.

Those moving to Cyprus applying for a permanent residence permit through the F category will not need to purchase a property, but if they want to do so, it will be an advantage for their relocation and an advantage during the process of Cyprus immigration.

In the case in which persons applying for this category will want to purchase a property, they should know that there aren’t any minimum requirements as to the price of the property, it can be a resale property as well, of any type and price. The applicants will not have to prove that the money they have purchased the property with are from foreign sources, as it can be the case of other programs.

However, when relocating to Cyprus under this residence permit program, the foreigners will still need to provide evidence on having a minimum level of income. In this particular case, the requirement is to have at least EUR 9,568 for the person who applies for residency. If the person will arrive here with other family members who are considered dependents to the applicant, additional financial resources have to be proven.

In the past, for each dependent of the applicant, evidence on having EUR 4,613 was required. This income has to be from any type of foreign sourced income, such as salaries, pensions, income obtained from the rental of overseas properties, stocks, shares owned in a company and other types of incomes.

However, in 2024, this sum was modified, and now, those who apply for a residence permit through investments are required to provide evidence of having a minimum of EUR 10,000 for each dependent family member.

During the application, the foreigner must also open a bank account at a Cypriot commercial bank; if you need assistance on the procedure, our immigration lawyer in Cyprus can provide legal advice on the documents that are required by all local banks. The bank account must be opened for the purpose of depositing an initial amount that can vary from EUR 15,000 to EUR 20,000.

This is a part of the immigration application process, as the authorities will need to make sure that the applicant has sufficient funds, besides the yearly income that we have mentioned above. After the immigration formalities are completed and the Cyprus permanent residence is issued, the person can easily use the respective money in accordance with his or her own wishes.

Under this program, the foreigner can bring in Cyprus dependent persons, who are generally children with an age below 18 years old. The children will receive the Cyprus permanent residency, which will be valid until they reach 18 years old. Please mind that when moving to Cyprus under this program, the parents of the applicant can’t be considered dependents and thus, will not be able to relocate here as permanent residents under this particular program.

However, the parents of a foreigner can relocate to Cyprus and become permanent residents, but under other circumstances; our immigration lawyer in Cyprus can provide more details on the visa options and residence requirements available for elderly persons. It is also worth knowing that you can participate in the F Category program when renting a local property.

Still, you should mind that in this case, the opportunity to receive the Cypriot residence permit will be diminished, as the local institutions will favor those who have purchased a property here, not only because this shows an important investment in the local society and economy, but because it shows a certain level of commitment to Cyprus, which can’t be easily proven by those who simply rent a property.

For this category, it is necessary to know that the applications for Cyprus permanent residency can be completed in a period of 18 months. It is also very important to remember that if you have dependent children, after the age of 18 years old, they will lose the right to a residence permit in Cyprus obtained under this program, and will have to apply for a different program, provided that they want to maintain their residency here.

We invite you to request more details on the Cypriot residence permit through the F Category residence permit from our immigration lawyer; our team can advise on other aspects that you should mind when arriving here under this program and can provide consultancy services on other residency programs that can be of use for you or other family members.

Persons interested in relocating to Cyprus can contact our team of lawyers for more details on the steps involved in the issuance of the permanent residency permit. Please mind that the Cyprus permanent residence permit issued for investment purposes can be obtained without the presence of the applicant in this country; the legal representatives appointed by the person can handle the entire procedure.

Persons who apply for a residence permit in Cyprus must also pay a processing fee – up until 2024, the fee was of only EUR 20. Along with this, they must prepare 2 passport-size photos. However, those who will apply for a residence permit in 2024 are required to pay a processing fee of EUR 70 (the renewal of the document costs EUR 50).

Foreigners who have already been issued with a permit and who need to renew the document must pay the same fee upon the expiration of the document, which is valid for a period of 10 years, when the permit is a permanent residence permit.