Cyprus Permanent Residency

Permanent Residency Permits to Non-EU nationals grants the right to travel within the EU.

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Being at geopolitical crossroads, Cyprus enjoys a European political outlook and the lifestyle of a Mediterranean island – which along with its favorable tax regime makes the country one of the top relocation destinations in the world (2014, Knight & Frank lifestyle review).

Cyprus has been a member of the European Union since 2004, and a Eurozone Member since 2008. Besides the inherent benefits of EU Membership, the country enjoys high quality healthcare and education, as well as, a stable political climate.

Permanent Residency under this programme grants the right to travel within the EU and it is considered to be the first step towards gaining Cyprus Citizenship. In this respect, the Cypriot authorities have recently simplified the procedure for issuing Permanent Residency Permits to Non-EU nationals.






Country Highlights

CAPITAL CITY: Nicosia LANGUAGES: Greek, Turkish, English
VISA FREE COUNTRIES: 159 CURRENCY: Euro €
TOTAL AREA: 9,251 km² POPULATION: 1,205,575
NEAREST COUNTRY: Lebanon, 264 km TIME ZONE: Eastern European Time Zone (UTC+02:00)


Legal Basis

In pursuance of the provisions of Regulation 6 (2) of the Aliens and Immigration Regulations, Cyprus grants Non-EU nationals the right to permanently reside in Cyprus with no renewal requirements. The process is based on a set eligibility criteria ensuring that the Permanent Residency status is only granted to reputable individuals.


Benefits

  • Fast process - 2 months;
  • Safe and secure country with lowest crime levels in the EU;
  • Favourable tax rates - low rates and international double taxation agreements;
  • EU wide travel with less elaborate visa requirements
  • High quality healthcare and education;
  • Valid for life.


Eligibility

  • Eligible dependents include the spouse, parents of main applicant and spouse’s parents, as well as  children up to the age of 24 years;
  • Main applicant is in good standing;
  • Secured annual income of €30,000;
  • Three year fixed deposit with a Cyprus bank of at least €30,000,
  • Purchase of a residential property(ies) of a combined value of €300,000 (excl. VAT if applicable);
  • Visit once within the 1st year to register biometrics and then every 2 years thereafter.


Process & Timeline




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Key Contacts

Dr Jean-Philippe Chetcuti

Managing Partner

+356 22056411

Mr Kenneth Camilleri

Senior Partner

+356 22056414

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