Retire to Cyprus

Might be an idea to indicate which district you are considering

First question---- WHERE!!!! Then there might be many that can help and guide.

Ah right, Eastern Cyprus near Protaras..

@derekxrp999 Proteras, Paralimni, Sotira in the general area

@derekxrp999 I would not bother with the Cat F route. Even though immigration will take your money there has not been a single Cat F Visa processed since at least 2021.

When I enquired at my immigration renewal last year about Cat F my solicitor told me not to waste my time and money as Cat F are just not being processed.

There is a proposal by the Cypriot Government to change the criteria for Cat F at the moment. This criteria is expected to include the purchase of a property for greater than €250,000 and a minimum income requirement of €60,000 per year for a couple. This is just a proposal and is likely to change.

@MacGeorge8035

I agree no cat Fs have been processed for a good few years now ...I believe since around 2018/19..and besides whilst you are waiting to be processed. You still need a visa via the pink slip each year

From index.cy

Cyprus cabinet is considering easing the requirement for residency schemes for wealthy foreign nationals.  The cabinet is considering allowing an insured annual income of €40,000 (increasing by €10,000 for each additional family member) as well as suitable owned accommodation in the Republic for the person applying worth €250,000.

Philenews also reports that some support lowering the housing investment threshold to €150,000, as it would attract support for the sales of pre-owned homes and apartments.

@MacGeorge8035

Yea I've been in touch with an immigration company and they say the same so I'll try a different route....

    From index.cy
Cyprus cabinet is considering easing the requirement for residency schemes for wealthy foreign nationals.  The cabinet is considering allowing an insured annual income of €40,000 (increasing by €10,000 for each additional family member) as well as suitable owned accommodation in the Republic for the person applying worth €250,000.

Philenews also reports that some support lowering the housing investment threshold to €150,000, as it would attract support for the sales of pre-owned homes and apartments.
   
-@Toon

All my fingers and toes are currently crossed...... but that €40k per annum (for a couple?) Is a real killer.....

Hmmmm...... 🤔

https://gk-lawfirm.com/practice-areas/i … advisable.

@shotokan101 it’s €50k for a couple

@derekxrp999

A "complete package" sounds expensive. I suggest you simply find yourself a reputable immigration attorney and focus on getting your residence permit. Your attorney will advise you what you need as part of your application. If it's not needed (e.g. driving license) then deal with this later, after you're legally resident.

Finding a place to live (rent/buy) is pretty straightforward. There are many property agents, and plenty of properties listed online.

@MacGeorge8035

But that's  (sort of) my point - that link which says it's for 2024 states that it's only €15k for a married couple..... ?

Anyone have the "official" government requirements handy?

Jim

I think that's the old cat F which they are intending to change ..as they are not processing any cat F visa s.. and have not done so since 2018/19... Which seems to have changed to include an Investment in property of €100000 plus vat at prevailing rate ..  clearly can't be new property so vat @ 19%.... Most properties at that price point are likely to be either a studio or have problematic deeds

@shotokan101 The problem is the Immigration Website is so out of date it is almost worthless where Cat F is concerned.

@MacGeorge8035

The migration website is full of information but disorganised and not very clear.

@Toon It’s certainly not clear around Cat F. The last time I looked the financial requirements were still in £Cyp.

@MacGeorge8035

I can't see it being any clearer until such time as they decide what they are going to do, revamp their website and take down the old ones...  As things stand now it's too confusing especially for those just starting the process exacerbated by the many variables in circumstances

@Toon Agreed, it's difficult to find out what's needed. Never mind it keeps Lawyers and others in work.

Contributing to their wealth and the economy ...lol

@MacGeorge8035

I assume you have now settled in to your new home ..so how are finding Frenaros...

@Toon The builder was only 3 months late delivering the house, apparently that is seen as being on time according to our Cypriot friends. We are still settling in and the village is very low key. if we want more excitement Ayia Napa and Protoraus are only 15 to 20 minutes away.

Low key meaning quiet and not a lot of activity ?

@Toon Exactly, the bakery is excellent and some decent coffee shops, but eating out there is limited choice. The restaurants are all Tavernas with very limited menus, but what there is is fine. We need to go further afield if we want something different.

That was what we thought when we looked around that area. .....

@derekxrp999 Hi! With bank account it was really terrible for so I decide to use Cyprus company formation agents. By the way, I found a useful service where quite a lot of lawyers are collected, perhaps it will be useful for you:rawgister.com

Toon

Any idea of what form this residency permit would take ?

ie would it be a 5 year one that was renewable ?

I would appreciate any updates on what happens

thanks

gordon

Toon

Cyprus Expert

23 June 2024 06:22:43

#8

9865

From index.cy

Cyprus cabinet is considering easing the requirement for residency schemes for wealthy foreign nationals.  The cabinet is considering allowing an insured annual income of €40,000 (increasing by €10,000 for each additional family member) as well as suitable owned accommodation in the Republic for the person applying worth €250,000.

Philenews also reports that some support lowering the housing investment threshold to €150,000, as it would attract support for the sales of pre-owned homes and apartments.

Regarding the possibility of rental income from a UK property

Put me off when one considers all the other charges and issues that come with renting

UK Government website says:

Second homes and empty properties

Second homes

You’ll usually have to pay Council Tax on another property you own or rent, such as a holiday home. These properties are furnished and do not have anyone living in them as their main home. They are also known as ‘second homes’.

Your council can decide to give you a discount - it’s up to them how much you get. Contact your council to ask about a discount.

From 1 April 2025, you can be charged up to 2 times your normal Council Tax. Your council will decide whether the property is a ‘second home’ and whether to charge this additional tax.

@Gordon76

Probably have to wait till it's passed as we all know things change ...regularly .