RESIDENCE PERMIT
Cyprus offers many different ways for foreign individuals to obtain residency, including a residence permit or obtaining permanent residency through real estate purchases
Foreign individuals looking for a seamless way to experience life in Cyprus can explore the Temporary Residence Permit option
This permit, also known as the Pink Slip, allows you to maintain financial independence through your foreign income while enjoying the beauty of Cyprus.
Discover the freedom of self-sufficiency, bearing in mind that this opportunity is open to individuals aged 18 and above, as well as their spouses and children under 18 years old.
HOW TO APPLY FOR A RESIDENCE PERMIT
Moving to Cyprus is possible by obtaining a residence permit or permanent residency, depending on the investor’s goals.
HAVE STABLE FOREIGN INCOME
PROVE OF MINIMUM ANNUAL INCOME OF €24,000
HAVE A REGISTERED ADDRESS IN CYPRUS
PROVIDE A LIST OF REQUIRED DOCUMENTS
REQUIREMENTS FOR A CYPRUS RESIDENCE PERMIT
While the Cyprus Residence Permit doesn’t automatically provide visa-free access to most European nations, as a status holder, you can enjoy the convenience of obtaining a Schengen visa through a simplified procedure at Cyprus consulates.
Moreover, Cyprus residents can also take advantage of the National Health System of Cyprus (Gesy), ensuring access to a range of healthcare services from public to private clinics. Your journey to Cyprus comes with both opportunities and access to essential services, making it a fulfilling experience.
This category of residence permit necessitates that applicants are self-sufficient, relying on their foreign income to support both themselves and their families, with no intentions of seeking employment in Cyprus.
Applicants eligible for a residence permit (Pink Slip) include third-country nationals aged 18 or older, along with their spouses and children under the age of 18.
When including family members in the application, there are adjustments to the income requirements.
Specifically, the required income increases by 20% when adding a spouse and by 15% for each child. This means that for a married couple with a child, the combined monthly income should be a minimum of €2,700 or €32,400 annually.
The eligible income includes various sources, such as salary, pension, income generated from bank deposits, and dividends from foreign or Cypriot companies if the applicant doesn’t receive a salary from them. Additionally, the total income comprises rental earnings from both foreign and Cypriot real estate.
Applicants are required to submit a long-term housing lease or a purchase agreement as part of their application. It’s important to note that there is no specific minimum amount set for property purchase.
The applicant is required to undergo a series of eight key stages:
1. Secure a visa to enter Cyprus.
2. Arrange for the rental or purchase of a property.
3. Gather, translate, and authenticate the necessary documents for a residence permit.
4. Complete a medical examination in Cyprus, which includes blood tests for infections and fluorography.
5. Fulfill the payment of registration fees, which amounts to €70 each for obtaining a residence permit and registration in the Migration System of Cyprus.
6. Apply for a residence permit and provide biometric data, including a photograph and fingerprints.
7. Obtain an Alien Registration Certificate (ARC).
8. Successfully acquire a Cyprus residence permit.
The process of collecting documents for obtaining a visitor permit can be divided into two distinct stages. First, applicants must prepare the required certificates in their country of residence. Subsequently, upon arriving in Cyprus, they should submit these documents along with the results of their medical examination and either a lease agreement or an ownership certificate.
1. A completed MVIS6 application form.
2. A valid passport with a minimum validity of three months from the application date.
3. A certificate of no criminal record from the country of origin or residence.
4. Results of blood tests for HIV, syphilis, hepatitis B, and hepatitis C, along with the results of fluorography, accompanied by a doctor’s opinion.
5. Proof of health insurance.
6. A letter of guarantee from a bank, valid for a period of 10 years, to cover potential repatriation costs.
7. Confirmation of the place of residence in Cyprus, which can be demonstrated through a lease agreement or a sale and purchase contract.
8. A bank statement verifying the applicant’s financial stability.
9. Open a Cyprus bank account.
10. Provide marriage and birth certificates when applicable.
The residence permit (Pink Slip) is initially issued for a duration of one year, and it can be renewed by foreigners without limitations.
When seeking an extension, foreign applicants are required to assemble the same set of documents, excluding the certificate of no criminal record. During the extension process, irrespective of family composition, the applicant must maintain a minimum account balance of at least €6,000.
DISCOVER YOUR PATHWAY TO CYPRUS
Thinking of moving to Cyprus from the UK or elsewhere?
Start your journey to Cyprus residency today – check your eligibility for temporary or permanent residence permit now.
