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PERMANENT RESIDENCE PERMIT IN CYPRUS - CATEGORY F

For many years Cyprus has been a favourite place for permanent residency and holidays among foreigners from all over the world. Due to its pleasant Mediterranean climate, warm sea, clean beaches, as well as a safe and comfortable lifestyle, Cyprus is often chosen as a country of permanent residence for young couples, families with children and retired people. Cyprus is a member of the EU and has a high standard of living, excellent medical and educational systems, great investment opportunities and favourable conditions for business.

Liberal immigration law allows foreign investors and their families to get a permanent residence permit quickly and easily by buying a residential property on the island. Permanent residence permit (category F) gives the applicant and all members of the applicant's family the right to reside in Cyprus permanently. Holders of the permit and their spouses may own their businesses in Cyprus and receive dividends, but may not be employed. In order to keep the PRP in Cyprus it’s not required to live in Cyprus, but to visit the country at least once every two years.

Holding assets in Cyprus and abroad is a key reason for an application for Permanent Residence Permit (category F) to be approved. Also, possessing your own property in Cyprus can significantly increase the chances of obtaining the permit.

The applicants have the opportunity to submit the applications by a usual or accelerated scheme.

Requirements for submission of an application for PRP (category F) by accelerated scheme:

  • Copies of passports, marriage certificate and children’s birth certificates, criminal record (issued in the country of residence), health insurance policy, CV
  • Contract of sale of real estate worth at least € 300,000 + VAT (if applicable)
  • Proof of payment for at least € 200,000. Receipt of funds from abroad must be confirmed
  • Submission of the contract of sale in the Land Registry Department
  • Confirmation letter from a Cypriot Bank stating that the applicant has deposited not less than €30,000 in an account, which will be pledged at least for a three-year period. Receipt of funds from abroad must be provided.

The processing time: 2 months from the date of the application submission.

Requirements for the application submission for PRP (Category F) by usual scheme are as follows:

  • Copies of passports, marriage certificate and children’s birth certificates, criminal record (issued in the country of residence), health insurance policy, CV
  • Contract of sale of a property and submission of the contract of sale in the Land Registry Department
  • Proof of payment

The processing time: 12-16 months from the date of submission of the application.

At the moment of submission of the application the presence of the applicant in Cyprus is not compulsory.

It is necessary that the applicant will visit the Court of Cyprus within one day of the working week (Monday to Friday) and a special certifying document (Affidavit) will be signed.

The processing period of an application for Permanent Residence Permit (category F) depends on a chosen scheme.