Permanent residency in Cyprus

The Cyprus residence permit under the Cyprus law of immigration regulations combines a fast process and simple criteria with no nationality restrictions.

When the permanent residence permit is issued it is valid forever with no renewal needed.

The permanent residence permit applies to:

• The applicant
• The spouse
• Unmarried dependent children of the applicant up to the age of 25 years old
• The applicant’s parents and parents in law
• Permanent residence holder can apply for Cyprus EU passport after 7 years

Requirements to obtain the Cyprus’ permanent residence:

1. Purchase of new property with a minimum value of 300000 euro (excluding VAT)
2. Fixed deposit of 30000 euro in a Cyprus bank account for 3 years
3. Annual income from abroad of 30000 euro plus 5000 euro per dependent person, plus 8000 euro per parent and parent in law
4. Declaration that the applicant and the dependents will not work in a Cypriot company unless they have their own company.
5. Clear criminal record certificate for the applicant and the dependents over 16 years old

The time needed to examine the application is around 2 months.