Cyprus Permanent Residency
Cyprus Permanent Residency also known as a Cyprus Immigration permit or unlimited residency .This permit entitles Non-Eu citizens who are eligible for this status to enter and reside in Cyprus with no limitations.
Permanent Resident Program is divided into several main categories :
1. Fast Track Permanent Residency (6.2) can be obtained by investment of at least 300,000 Euros plus VAT in a brand-new house or apartment In Cyprus or in commercial real estate even of the second market. The pre-payment of amount €200,000 plus Vat must be settled by the date of filing of the application. The applicant should maintain a secured annual income originating from outside of Cyprus of at least €30,000 which is increased by €5,000 for each dependent, and €8,000 for each parent included in the application. People who are granted permanent residence are not allowed to engage in any employment whilst they should visit Cyprus every two years. The process may be completed within 6-8 months.
2. Permanent Residency Category F can be obtained by investing at least €100,000 in a house/apartment. The applicant should have €9568 as annual income from abroad which is increased by €4613 for each dependent person. People who are granted permanent residence are not allowed to engage in any employment whilst they should visit Cyprus every two years. Unlike the fast-track process, the slow-track usually takes 1,5- 2 years to be completed.
3. Permanent Residence Category E can be obtained by persons who have been offered permanent employment and it expires once the Employer is changed.
4. Permanent Residency for EU citizens
EU citizens and their family members are eligible for permanent residency after 5 years of continuous legal residence in Cyprus.
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