Frequently Asked Questions
What is a Pink Slip?
A Pink Slip is a temporary residence permit allowing non-EU nationals to extend their stay in Cyprus for personal, family, or business reasons beyond 90 days
Who is eligible for a Pink Slip?
Non-EU nationals who can demonstrate financial stability without the need for employment in Cyprus are eligible
What are the requirements to obtain a Pink Slip in Cyprus?
To qualify for a Pink Slip, non-EU nationals must demonstrate sufficient financial means to support themselves without employment in Cyprus. Specifically, a single applicant must show an annual income of at least €24,000, with an additional requirement of approximately €5,000 for each dependent. Proof of steady income can come from pensions, rentals, dividends, or other sources. Additionally, applicants must have comprehensive health insurance covering all risks in Cyprus, a valid rental agreement or proof of property ownership, and a bank guarantee might also be required
What documents are required for a Pink Slip?
Typically, you’ll need a valid passport, proof of financial means, a rental agreement in Cyprus, and health insurance
Can I work in Cyprus with a Pink Slip?
Generally, a Pink Slip does not permit employment in Cyprus. However, you can establish a Cypriot company, be a shareholder, and receive dividends. Additionally, you can serve as an unpaid director and unpaid secretary of your company, leveraging these roles to manage and control your business interests legally without drawing a salary
How long does the application process take?
Processing times can vary but generally take between six to eight months, during which you can legally stay in Cyprus even if your initial visa expires
Can my family also receive Pink Slips?
Yes, your spouse and dependent children can be included in your application and receive equivalent residency rights
How long does a Pink Slip last?
A Pink Slip is valid for one year and can be renewed annually
How do I renew my Pink Slip?
Renewal involves demonstrating continued eligibility and financial stability, typically on an annual basis