How to Get the Permanent Residence Permit in Cyprus?

By: Chris Michael

Rich in historical legacy and beautiful natural wonders, Cyprus is considered as a desired exotic immigration destination. The friendly lifestyle and exquisite neighborhoods of Cyprus attract many non-EU nationals to spend their golden years.

Keeping in mind the interests of non-EU nationals, the government has brought a fast-track program of investing in real estate market that allows non-EU investors to obtain a permit of permanent residence in Cyprus fast and hustle free.

So, from now the Non-EU nationals who purchases Cyprus property and fit all necessary criteria, can benefit from a new and accelerated process of getting a Cyprus permanent residence permit.

Below you can see list of criterion for Non –EU national, which need to be met in the process of obtaining Cyprus permanent residence permit:

1 – Submitted application must be supported with an agreement of sale or title deed of a property bought in Cyprus that carry a minimum value of €300.000 and evidence of payment for minimum €200.000.

2 – Official statement should be proved, confirming that yearly earning of the applicant not less than €30.000 and transferred from abroad. The parents of the prospective applicant or his/her spouses can also apply for Cyprus permanent residence permit.

The sum requirement augments by:

€5.000 for every dependent child

€8.000 for every dependent parent

3 – Guarantee letter from authorized bank in Cyprus confirming they’ve deposited a sum of at least €30.000 for three successive years. The sum should be transferred from overseas to Cyprus.

4 – Clear Criminal Record certificate issued by the Government of their nation of origin.

5 – Written Statement, confirming that applicant won’t be working in or occupied in any type of business in Cyprus.

6 – The applicant is obliged visit Cyprus at least one time in 2 years.

In case if all mentioned above conditions are met, the application will be verified by the Minister of the Interior and the permit will be approved within 1 to 2 months.

Remember: Obtaining this permit grants the non EU nationals a permanent residence without any right to work in the Republic of Cyprus.

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If you require legal assistance regarding Cyprus permanent residence permit which can be obtained via investing in real estate program, let "Chris Michael Property Group" help you with all the legal procedures. For more details, feel free to contact us at +357 25 313 135.

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