Conditions for obtaining a permanent residence permit in Cyprus
- Purchase of a new residential property in Cyprus with a minimum value of €300,000 (plus VAT — 19% or 5%).
- Proof of a guaranteed annual income of at least €30,000 from abroad is required.
- The amount is increased by €5,000 for each family member (spouse and children) and €8,000 for each parent of the main applicant and spouse.
- Make a deposit of at least €30,000 in a Cypriot bank for a period of 3 years. Applicants must not have a criminal record.
- No language proficiency test or medical examination required.
- The term for consideration of the application is 2 months.
- It is also possible to obtain a residence permit in the usual manner (for a period of 1 year), in the case of the acquisition of real estate worth less than €300,000 or secondary real estate. In this case, you need to provide documents for real estate, as well as demonstrate sources of income outside of Cyprus and the availability of funds in a Cypriot bank. Of course, our lawyers — partners will help with this!