There are two ways that Non European citizens can apply for a permanent residence permit in Cyprus:
Fast track – Applicants can purchase one or two properties (apartments or houses) for himself or/ and his family of a minimum total value of 300,000€ plus VAT.
Other requirements include:
- Property must be used for his/ her permanent residence.
- Property must be new.
- A Cyprus bank account must be opened with a deposit of minimum 30,000€.
- Proof of money transfer from abroad.
- Applicant must not be engaged in any business activities in Cyprus.
- Proof of income.
- Clean criminal record.
Category F – Applicants must possess and have 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. Applicants must also purchase a property in Cyprus.
Further information can be found on the portal of the Ministry of Interior of the Republic of Cyprus- www.moi.gov.cy – immigration permits
Antonis Zenios Developments Ltd can advise and assist our clients with the complete application procedure and ensure the successful issues of the Permanent Residence, given all the criteria are met by the buyer.