The Republic of Cyprus has implemented a fast tract procedure to acquire permanent residence permit, a policy introduced by the Minister of Interior since 2009 which was revised in August 2012. The policy implements a favorable treatment for Third country nationals (i.e. non EU citizens) who apply for Immigration permit, under section 5, category (f) of the Aliens Immigration Regulations of 1972, as amended.

Under this policy, the Immigration permit, which will be equal to Permanent Resident status, will be granted to third country nationals who will acquire, by virtue of sale, a self owned property in Cyprus for self resident purposes in the Republic, for a minimum value of €300.000. Additionally, all applicants under this category, would be required to show a secured income of sufficient amount, which must not come from activities or self employment in Cyprus, but from abroad. Each case is examined of course on its own merits depending on the personal circumstances of the applicant.

To obtain long-term resident status, a third country national must demonstrate the following attributes:

• Stable and regular resources sufficient for himself and his dependents to live in Cyprus without recourse to its social assistance system;
• Sickness insurance which covers the risks usually covered by Cypriot insurance companies;
• He is not a threat to public order or public security; and
• His residence in the territory under the Cypriot Government’s control has not been the result of deceit or misrepresentation.

 

The list of documents which are required for the application are the following:

1. The completed Form M67

2. Birth certificates of the children of the applicant (please note that the birth certificates should either be originals, or certified true copies bearing certification from the relevant authorities of the country in which the certificate was issued and Apostle stamps).

3. Marriage certificate (please note that like the birth certificates, the marriage certificate should either be original, or certified true copy bearing certification from the relevant authorities of the country in which the certificate was issued and Apostle stamps).

4. Copies of the recent and valid passports.

5. A clean criminal record issued by the country of origin for the applicant and his/her spouse, (please note that as per the birth certificates, the certifications for the clean criminal record should either be original, or certified true copy bearing certification from the relevant authorities of the country in which the certificate was issued and Apostle stamps).

6. A Sale Agreement for the property acquired, which has to be stamped and deposit with the respective Land Registry (by stamped we mean the Stamp Duty payable in accordance with the value of the property acquired). The minimum purchase price should be €300.000.

7. An original bank account statement of the applicant in Cyprus demonstrating that the applicant has at least €30.000 fixed three year deposit with a bank in Cyprus.

8. 4 passport size photographs for each member of the family.

9. Affidavit of the applicant disclosing his/her income.

10. Bank account(s) of the applicant from banks out of Cyprus, or any other document showing income of the applicant abroad, e.g. rental agreements, dividend certificates, etc, demonstrating that there are sufficient means to support himself/herself and the rest of the family members (although this is at the discretion of the Immigration Department, the annual income required should be at least EURO 30,000 for a single applicant and at least EURO 5,000 for every dependent person, but the Immigration Control Board may demand additional amounts as necessary.

11. Curriculum vitae (CV) of the applicant, including his/her academic qualifications.

12. Certificate for Medical Insurance to cover applicant and dependents in Cyprus.

13. Receipts for the payment of the purchase price demonstrating that the applicant has paid at least €200.000 towards the purchase price.

14. Official Statement by the applicant that he/she does not intent to work or be engaged in any form of business in Cyprus.

15. Health insurance policy covering the applicant and his family members in Cyprus.

Please note that all the above documents should be originals or certified true copies (and apostle) and officially translated in English in order for them to be accepted by the authorities of the Republic of Cyprus.

Please note that the Immigration Department may request further documents as each case is examined on its own merits.

The application may be deposited even before the applicant arrives to Cyprus provided all the relevant documentation is available.

Once the applicant is successful his/her spouse will also receive the permit as well. The same applies for children under the age of 18 years old.

Please bear in mind that if the Visa holder does not visit Cyprus for a period exceeding 2 years, then the Visa will be automatically revoked.