PERMANENT RESIDENCE PERMIT IN CYPRUS - CATEGORY F

For many years Cyprus has been a favourite place for permanent residency and holidays for Europeans and citizens of the former Soviet Union. Due to its pleasant Mediterranean climate, warm sea, clean beaches, as well as a safe and comfortable life, Cyprus is often chosen as a country of permanent residence for retired people and families with children. 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 a permanent residence permit in Cyprus and their spouses may be the owners of their own businesses in Cyprus and receive dividends, but may not be employed. In order to keep the permanent residence in Cyprus it’s not required to live in Cyprus, but to visit the country at least once in two years.

Holding of assets in Cyprus and abroad is a key basis for obtaining permanent residence permit Category F. Substantially increase the chances of getting DRI can be having its Owning a property in Cyprus greatly increase the chances of getting the PRP in Cyprus.

The applicants interested in obtaining a permanent residence permit in Cyprus have the opportunity to submit the applications by a usual or accelerated scheme.

Requirements for submission of the application for Permanent Residence Permit 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, resume
  • 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 a minimum capital of €30.000 in an account, which will be pledged at least for a three year period. Receipt of funds from abroad must be proved.

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

Requirements for submission of the application for Permanent Residence Permit Category F by usual scheme:

  • Copies of passports, marriage certificate and children’s birth certificates, criminal record (issued in the country of residence), health insurance policy, resume
  • 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 maximum processing time of the consideration of the Permanent Residence Permit Category F depends on a chosen scheme.