Our office aims to fully inform our customers about all stages of the residence permit process, while we ensure that your application does not contain errors, so as to avoid unnecessary delays.
Contact us if you are interested in:
– Cypriot Citizenship through Investments
– Long Term Residence
– Permanent Residence Permit in Cyprus
– Temporary Residence Permit in Cyprus (Pink slip)
– Yellow slip
– Work Permit in Cyprus
– Assistance with tax residence applications
We address all issues pertaining to Cyprus immigration legislation and offer assistance. The Cyprus Investment Program and its terms, immigration permits, permanent residence permits, employment permits, and visas are all areas in which our committed team of attorneys has extensive knowledge. The following subpages include a wealth of analytical information related to the aforementioned.
With extensive knowledge of Cyprus law and processes, our attorneys are committed to assisting you and organizing your immigration applications in the most effective manner.
Cyprus residency by investment in 2022
Successful candidates and their families can obtain an unlimited-duration Cyprus immigration card in two months thanks to the Cyprus Residency by Investment program. After staying in the nation as the bearer of such a permit for five years, an investor may seek for citizenship in Cyprus.
By making investments of at least €300.000 in real estate or securities and demonstrating an annual income of €30.000 in 2022, candidates can get residency in Cyprus. If the applicant purchases residential real estate, all of his income must originate from outside the country. If he decides to make any further investments, Cyprus may also be the source of all or some of his income.
The following advantages are offered by the Cyprus investment visa:
- With no restrictions, you may enter and stay in Cyprus.
- If the applicants travel to Cyprus once every two years, it remains valid.
- Awarded to the applicant’s spouse, kids, parents, and in-laws.
- The right to get healthcare under the general healthcare system
- No employment rights in Cyprus (with exceptions)
Investment requirements for Cyprus residency:
Investors interested for residence in Cyprus must meet the following requirements as of 2022.
The applicant must make a minimum investment of €300,000 in one of the following areas:
Purchase a new residential property.
Buying a home or apartment for at least €300,000 qualifies (plus VAT). It is also possible for the investor to acquire two homes for the aforementioned sum from other development firms. Off-the-plan homes are also included, regardless of the date of delivery.
The real estate investment strategy used in the prior program is the same as this one. The new ones are listed below.
Invest in commercial real estate.
Offices, stores, hotels, and similar projects could be included. Additionally, it can be a mix of those. They may also be resale or used properties.
Purchase stock in Cyprus Company.
to invest in the share capital of a Cyprus business that has been established or to buy shares. The business must have its headquarters and do business in the Republic of Cyprus, have a legitimate physical presence there, and employ a minimum of five (5) persons.
Invest in Units of the Cyprus Investment Organization for Collective Investments (AIF, AIFLNP, RAIF) To buy Units in any of the aforementioned.
The candidate must provide proof of an annual income of at least €30.000. Every dependent family member receives a rise of €5,000, and each dependent parent receives an increase of €8,000. (of the candidate and/or his partner). It is also possible to incorporate the spouse’s salary.
Any of the following may be part of the income:
wages or salaries, dividends, fixed deposits, rental income, and pensions
If the applicant chooses to invest in residential real estate, all of his income must originate from outside the country. If he picks one of the other investing alternatives, some or all of his income could come from sources in Cyprus.
The following are some possible applications:
Spouse and minor children under the age of 18.
kids between the ages of 18 and 25. They must be both single and enrolled in school.
They must first apply for a student visa if they want to enroll in any university in Cyprus. They will be able to file their own application for an immigration permit once they have completed their education (without expiry). The sole criterion will be that the parents provide proof of an additional €5,000 yearly income for each such child.
parents as well as in-laws
After five years of actual residence in Cyprus within a seven-year period, someone who has residency in Cyprus via investment is qualified to petition for citizenship.
The corresponding amount of days must be spent there, which comes to 1825. (5×365). The candidate must have lived continuously in Cyprus for the previous year before applying (small absences are ok).
You may read more about the prerequisites and the application procedure here.
Non-EU passport holders can prolong their stay in Cyprus for more than three months with the use of a temporary residency permit, or “Pink Slip” (90 days). No matter how long their initial visa was valid for, it will also make it possible for tourists and visitors to prolong their stay. They ought to submit an application before their present visa expires.
In Cyprus, a pink slip has a one-year expiration date and can be renewed annually. A person is permitted to live in Cyprus as a guest with this document (without the right to work). Also eligible for the pink slip as dependents are the employee’s spouse, children, and parents (under the age of 18). Every member of the family submits an application at the same time, receives a temporary residency card, and fills out a separate application form.
- Cannot constantly leave Cyprus for longer than three months, otherwise the permission will be suspended.
- No employment rights in Cyprus
- only those non-EU citizens who want to prolong their stay in Cyprus are approved.
- Valid for a year and renewable each year
The primary requirements for this kind of permit eligibility are as follows:
- sufficient foreign income to pay living costs while remaining in Cyprus (estimated at between €25,000 and €30,000 for a household of three)
- purchased or leased a home or apartment
- One duly filled out MVIS3 application form for a temporary residency visa in Cyprus as a guest.
- Agreement for the purchase or rental of a home or apartment
- The minimum term of the rental agreement is one year (Rental Agreement and a copy of it certified by Muhtar or certifying officer & stamped at tax office).
- Bank statement and evidence of international transfer
- Deposit or transfer €15,000 to a Cyprus bank account, which should be done from overseas. Cash brought with you must be disclosed at the airport when you arrive and a confirmation certificate must be obtained. (Find out how to start a bank account in Cyprus.)
If using a bank transfer, it must be quick or accompanied by evidence from the bank in Cyprus that the money was sent from overseas.
Create a bank guarantee in a Cyprus-based bank, one for every member of the family. Depending on nationality, the amount:
Russia, Eastern European nations = €550
Middle East nations = 350 euros
Nations in Asia and America = €850
The bank needs 1-2 days to process and provide the bank guarantees.
United Kingdom, New Zealand, Singapore, Norway, Andorra, Bahrain, Kuwait, Lebanon, Monaco, Qatar, Switzerland, Thailand, and United Arab Emirates applicants are exempt from the requirement to submit bank guarantees.
If the applicant already has foreign health insurance, it can be made in Cyprus. The average price per person is €200. In one day, you can make it.
Marriage Certificate duly certified and translated *(If applicable)
Children Birth Certificates duly certified and translated *(If applicable)
School enrolment confirmation for children
The documents with (*) require to be translated in English and bear the «APOSTILLE» stamp. OR be certified by the Ministry of foreign affairs of the country that will issue them and by the Cyprus Embassy of that Country.
The Registration certificate, sometimes known as the “Cyprus Yellow Slip” because to the yellow paper it is written on, is accessible to European (EU and EEA) nationals who seek to stay and work in the Republic of Cyprus or remain as tourists.
The owner of a yellow slip cannot enter Europe or other nations without a visa. It only applies to Cyprus.
Within four months after the date of arrival into the Republic, an application for the issuance of the certificate must be submitted.
The Registration certificate for European Union сitizens does not expire.
The certificate for non-EU family members has a validity of 5 years, on expiry the applicant can apply for renewal.
The advantages of a Yellow Slip in Cyprus include complete stay and re-entry rights, the ability to work and engage in economic operations, and overall access to the same privileges as Cypriot residents.
- Application forms MEU1 & MEU2 duly completed
- Copy of valid passport
- Marriage Certificate duly certified and translated *(If applicable)
- Children Birth Certificates duly certified and translated *(If applicable)
- Rental agreement or sale agreement of a house/apartment (selection of properties to rent in Cyprus).
The rental agreement needs to be for the one-year minimum (rental agreement and a copy of it certified by Muhtar or certifying officer & stamped at tax office)
- Bank statements of a bank account in Cyprus or bank statements from abroad (if applicable)
If working abroad to bring a confirmation letter from the employer and payslip
If they are working in Cyprus:
a. Confirmation letter from employer
b. Social Insurance Registration and annual income certificate
c. Employer to sign the application form
- Health insurance (not needed if working in Cyprus)
It can be international health insurance if the applicant already has one or it can be made in Cyprus. The average cost is €200 for each person it can be made in 1 day.
- Two small passport photos
The documents with (*) require to be translated in English and be «APOSTILLE» OR be certified by the Ministry of foreign affairs of the country that will issue them and also by the Cyprus Embassy of that Country.
The date for the submission of the applications shall be arranged by the applicants or their attorney. Booking in advance is advised, ideally 3–4 weeks before the deadline for submission.
In order to apply for the Yellow Slip, candidates must be physically present. In other words, the applicant cannot submit the application on their behalf or through a power of attorney. However, their attorney is permitted to attend the meeting when their application will be presented.