The main ways of obtaining a residence permit in Cyprus
1. Investment route
2. Property purchase
3. Residence permit for entrepreneurs and businessmen
4. Residence permit through employment
5. Residence permits for digital nomads
6. Residence permit for students and pupils of international schools
7. Residence permit for spouses of Europeans
Application procedure and the process of applying for a residence permit in Cyprus.
Residence permit in Cyprus includes several key steps:
Obtaining a residence permit in Cyprus is becoming a popular goal for many foreigners due to its attractive climate, high standard of living, and favorable business environment.
In 2024, the government of Cyprus is offering various programs and ways to obtain a residence permit, each with its requirements and advantages.
A TRP (Temporary Residence Permit) is a legal residence permit confirmed by an official Pink Slip document. This status allows third-country nationals (anyone who is not a citizen of the European Union) to live in Cyprus for more than 90 days and further extend their stay until the expiration of their current visa. The minimum requirements for obtaining TRP: a stable income of 2 thousand euros per month, a rental agreement for a year, and a set of standard documents (passport, certificate of criminal record, health insurance, etc.). After 5 years of residence, you can apply for a permanent residence permit in Cyprus, and after 7 years - for citizenship of Cyprus.
On average, after submitting the documents, the residence permit card is issued within 3 months. During the waiting period, you can stay in Cyprus and do your own business. Holders of residence permits do not have the right to leave the island for more than 3 months, otherwise, the status is automatically canceled.
The main ways of obtaining a residence permit in Cyprus
1. Investment route
This method involves significant investment in the country's economy. Requirements may include the purchase of real estate, investments in business projects, or contributions to public funds. In 2024, the minimum investment amount started from 300 thousand euros. The investor receives even more - permanent residency status and has the right to report to the island every two years.
2. Property purchase
Purchasing real estate in Cyprus is often the easiest way to obtain a residence permit and later permanent residence permit in Cyprus. Buyers must invest a certain minimum amount in real estate to qualify for a residence permit. Two types of visas are issued depending on the weight of the amount invested. You can count on a quick permanent residence permit if you buy real estate from 300 thousand euros up. Same as in the other case, you can live on the island, but the document itself must wait for years.
3. Residence permit for entrepreneurs and businessmen
This option is suitable for business owners who wish to expand their activities in Cyprus. Requirements include creating and maintaining an active business on the island.
4. Residence permit through employment
For foreigners who have received a job offer from a Cypriot employer, it is possible to obtain a residence permit through employment. This requires proof of an employment contract and meeting certain criteria. Often in this case it is the employer who submits the documents, not the employee. The salary must be at least 2.5 thousand euros before taxes. The most favorable conditions for residence permits and taxes for highly qualified specialists who work in key sectors of the economy. Therefore, it is recommended that novice workers grow as quickly as possible to key positions. They have at least 4 years to do so.
5. Residence permits for digital nomads
Those who work remotely from Cyprus can be granted this type of visa. Their number is limited to 500 per year. At the same time, the monthly income must be at least 3.5 thousand euros after taxes.
6. Residence permit for students and pupils of international schools
Students enrolled in one of the universities in Cyprus or accredited English or Greek language courses can also apply for a residence permit for the duration of their studies. Parents of the offspring must provide documentation that the studies have been paid for and that they are willing to provide for all running costs, accommodation, and so on. Parents of schoolchildren usually live together with their children, all of them are usually given a visitor's residence permit for a year without the right to employment, which must be renewed annually. The government requires proof of stable income from abroad (over 30 thousand euros for a family of three, 28.8 thousand euros for a family of 2, and 24 thousand euros for one), but in practice, the amount may vary. Confirmation of enrollment in an educational institution is more important for children. However, the parents' position in this situation is very precarious and often they have to rely on luck.
7. Residence permit for spouses of Europeans
And perhaps the most romantic way, but sometimes causing some suspicion on the part of the migration service. Residence permit through a relationship with a European. It should be noted that in practice it is not even necessary to officially register the relationship. However, for Cypriots, the real marriage is in the church, probably because of this the attitude to foreigners is more tolerant. The main thing is that the relationship should be real. They can check it at any moment. And the most unexpected way. And the heart, as they say, cannot be ordered.
Application procedure and the process of applying for a residence permit in Cyprus.
Residence permit in Cyprus includes several key steps:
Selecting the appropriate pathway for a residence permit: First, you need to determine which of the above-mentioned pathways best suits your circumstances.
Document preparation: Depending on the chosen pathway, you will need to gather several documents such as proof of financial investment, employment contract, proof of university enrollment, etc.
Applying: The application for a residence permit is submitted to the relevant Cypriot government agency, usually the Migration Department or the Cypriot Embassy/Consulate in your country.
Waiting for a decision: The processing time may vary depending on the category of residence permit and the current workload of the state authorities.
Receipt of the residence permit: Once your application is approved, you will receive a document confirming your residency status in Cyprus.
Legal and financial aspects: Consultation with a lawyer or immigration specialist is recommended, especially if you choose the investment route. They will help you understand the legislation, investment requirements and tax aspects.
Obtaining a residence permit in Cyprus in 2024 is a process that requires careful planning and preparation. Depending on your financial situation, professional status and personal goals, you can choose the most suitable path for you. Remember to consult with professionals and follow all legal requirements and procedures exactly.
This article provides a general overview and should not be considered legal advice. For more detailed information and advice, it is recommended that you contact immigration professionals.
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