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Cyprus Permanent Pesidency

Let us assist you

Permanent residency status in Cyprus is obtained through the Permanent Residence Program based on a new property investment at a minimum value of €300,000 +VAT in the Republic of Cyprus.

Upon your investment Medousa Developers can assist you and your family to obtain Permanent Residency in Cyprus in line with Regulation 6 (2) of the Aliens and Immigration Regulations, (24th March 2021).

Overview

I

Property investment holding period

The property must be retained

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Type of ownership

Sole, shared, freehold, or business

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Main advantage

The right to live and study in Cyprus, EU

I

Time required for processing

Two months processing time FAST TRACK or 18 months under a Category F application)

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Minimum property investment

An investment of a minimum of €300,000 + vat in a new built property

Criteria Overview

  • Purchase of new property valued at least EUR 300,000 + VAT.
  • The property can be a house, apartment, commercial real estate (or a combination thereof) if the collective value equals the total investment requirement of €300,000 + vat
  • A property can also be purchased by a company, as long as the company is registered in the name of the applicant or the applicant and their spouse (they must be the only shareholders).
  • The applicant must submit an application form along with the property purchase agreement, as well as documentation (evidence) that a minimum of EUR 200,000 + VAT has been paid.
  • Non-EU individuals can apply for permanent residency to enter and/or live in Cyprus
  • No additional financial deposit required

Benefits to Permanent Residency



Visa-Free Entry

Visa-free entry into Cyprus for you and your family for life as long as you retain the property, with easy access to Europe.



Permanent residence

Permission to live permanently in Cyprus however, it is not necessary to reside in Cyprus; a visit every two years is required.



Operate a business

The right to operate a business in Cyprus



Application period

The application procedure is highly efficient and can be completed within two months under Regulation 6 (2, If all criteria’s are met, the approval rate is high).



Cyprus passport

The applicant can apply for a Cyprus passport as long as you fulfil certain conditions after five years of residency

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No renewal periods

The permanent residence permit is valid for life



Dependents Education

Dependents can attend in high-quality private schools that offer English language classes.



Application from abroad

Except for biometric capture, the entire process can be arranged without being present in the country.



Covers the whole family

Cyprus Permanent Residency covers the whole family, includes the main applicant’s spouse, children under the age of 25, parents, and parents-in-law, for a Regulation 6(2) application,

and to a spouse and minor children under the age of 18 for a Category F application

Requirements Applying to the Main Applicant

  • Clear criminal record from their country of residence
  • Provide a declaration stating the applicate and family members do not intend to be employed in Cyprus
  • The property purchase agreement must be registered with the Cyprus Department of Land and Surveys.
  • The applicant must provide supporting documentation indicating annual proof of earnings (a minimum of EUR 30,000) which must come from abroad (This can apply to joint income of partners).
  • This income must be increased by EUR 5,000 for the spouse and each additional child, and by EUR 8,000 for each dependent parent (this can come from any income source).
  • Present a certified translation of your marriage certificate where applicable.
    Present a certified translation of the birth certificates of any dependants under 18.
  • A copy of your curriculum vitae must also be presented.
Six Easy

Steps


Property Purchase

The applicate selects a property to purchase


Application submission

Once a purchase agreement has been signed and deposit paid, the application for residency permit can be submitted

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Application fees

Upon submission of the application, a €500 fee is payable as well as an additional fee of €50 is required for biometric capture.


Application processing

The application will be processes by the Civil Registry and Migration Department and submitted to a permanent secretary of the Ministry of Interior, who will grant its approval within two months (provided the applicate meets required criteria).


After approval is granted

The applicant and his/her family members must visit Cyprus within one year to collect the actual permit. Personal interviews are normally not a requirement.


Biometrics taken at the Nicosia migration office

When in Cyprus, the applicate must visit the migration office in Nicosia to collect biometric data for all members of the family.

FEATURED

Projects

Ref: 151

Gloria Residences

K
Paphos, Yeroskipou

Ref: 145

Ruby Residences

K
Paphos, Emba

Ref: 149

Silencia

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Paphos, Tala
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Chiou Street 7,
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Paphos
Get in touch

Contact info



info@medousadevelopers.com



+357 26 923561



Free Phone (CY) 8000 9944



+357 97 88 70 70

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