Permanent residence permit
Permanent Residence Permit
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
- Purchase of new property with a minimum value of 300000 euro (excluding VAT)
- Fixed deposit of 30000 euro in a Cyprus bank account for 3 years
- Annual income from abroad of 30000 euro plus 5000 euro per dependent person, plus 8000 euro per parent and parent in law
- Declaration that the applicant and the dependents will not work in a Cypriot company unless they have their own company.
- 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.