Residence Permit for Non-Cypriots
 

Residence permit for non-Cypriots

The requirements to obtain a Permanent Residence Permit are as follows:

  1. Have an annual income for yourself and your dependents without needing to engage in business, trade or profession in Cyprus. The minimum requirement is €30,000, this must come from outside Cyprus and be verified by a letter from a Cyprus bank, and be pledged to the bank for a period of 3 years. 

  2. Buy property and have the title deed or purchase agreement issued in your name. The property needs to be valued at €300,000 plus VAT with proof of payment for at least €200,000 excluding VAT. There are valuable VAT exemptions for first time buyers that Quest Consulting can explain and implement for you.

  3. Original Letter from a financial institution in Cyprus (Bank,) of a deposit of €30.000, pledged for three years. This amount is increased by €5,000 for the spouse and for each child, and by €8,000 for each of your or your spouse’s parents.

There is some additional documentation necessary for the Permanent Residence Permit, including:

  • Copy of passports for all applicants

  • Declaration of income

  • Declaration of non-employment or business in Cyprus

  • Clean criminal record

  • Birth certificate

  • Medical insurance certificate

  • Curriculum Vitae

  • Marriage certificate and birth certificate of children where applicable

 

 

Quest Consulting can help you attain many of these and any other documents required according to updates in the law. 

 

This process normally takes approximately 2-3 months