Obtaining Residency in Cyprus

Firstly, Immigration Lawyers G. KOUZALIS LLC would like to inform you that obtaining residency in Cyprus is dependent upon your current EU status. Also, whether you are an EU/EEA/Swiss citizen or a non-EU national.

Furthermore, residency can be achieved through several means, either through employment, investment, or long-term stay. Also, Cyprus offers a variety of residency options, including temporary and permanent options. Also, the process varies according to the category of residence which you are applying for.

1. Obtaining Residency for EU/EEA/Swiss Citizens

Citizens of the European Union (EU), European Economic Area (EEA), and Switzerland do not require a visa or work permit to live, work, or study in Cyprus. However, they must register with the relevant Cypriot authorities who will issue them a registration certificate commonly referred to as the yellow slip. After a period of five years of residence in Cyprus, they can apply for their permanent residency card.

2. Obtaining Residency for Non-EU Nationals

Non-EU nationals have several pathways to residency in Cyprus, including employment, investment, family reunification, or retirement. The term of the residency can be temporary or permanent, depending on the specific program or purpose and specific to the applicants requirements.

1. Temporary Residence Permit

The Temporary Residence Permit, allows non-EU nationals to stay in Cyprus for more than 90 days. It is most often used by non-EU nationals who are:

• Students.
• Non-EU spouses of Cypriot citizens.
• Visitors (including retirees and individuals with sufficient income to satisfy the requirements for this visa.).

Types of Pink Slips:

• Visitor Pink Slip: For those who are financially independent and want to stay in Cyprus without working. It is typically issued for one year and can be renewed annually.
• Student Pink Slip: For international students studying at Cypriot institutions.

1. Permanent Residence Permit (PRP) for Non-EU Nationals

Non-EU nationals can apply for permanent residency in Cyprus through various investment programs or after a period of continuous residency.

1. Category F (Permanent Residency through Financial Independence)

This permit is for non-EU nationals who want to live in Cyprus, without working but who have sufficient income from abroad to support themselves.

1. Cyprus Permanent Residence Program (Fast-Track via Investment)

Cyprus offers a fast-track permanent residency option for non-EU nationals who invest in real estate or other qualifying assets. This is a popular choice among investors seeking long-term residency.

Investment Requirements for Obtaining Residency:

• Purchase real estate in Cyprus with a minimum value of €300,000 (plus VAT) from a developer.
• Total amount for the investment should transfer in a Cypriot banking institution from the personal account of the Investor abroad or from a company abroad in which he/she is the sole shareholder.
• Annual income of at least €50,000 (increased by €20,000 for spouse and €15,000 for each dependent child.

Other Requirements:

• Non-EU nationals prohibit from working in Cyprus but may own a business and receive dividends.

1. Cyprus Employment-Based Residency

Non-EU nationals can obtain residency by securing employment with a company in Cyprus. This includes:

• Work permits for non-EU nationals hired by foreign interest companies (businesses with substantial foreign ownership).
• Work permits for non-EU national who will work for a company which is licensed form the Labour office to hire third country Nationals.

Cyprus offers a flexible range of residency options for both EU and non-EU nationals, with pathways for investors, retirees, professionals, and their families. G Kouzalis immigration lawyers, through their experience and expertise, can assist with any application according to the needs of the investor. For more information please contact us on 00 357 23811788 or by email on lawfirm@cytanet.com.cy