Republic of Cyprus: obtaining a residence permit (residence permit) is the way to Europe

Republic of Cyprus: obtaining a residence permit (residence permit) is the way to Europe

Residence permit in Cyprus is your first step towards EU citizenship.

In Cyprus, this status is called Temporary Resident (temporary resident), and it can be obtained in different ways:

  • Become a student at a Cypriot university;
  • Marry a citizen (or citizen) of Cyprus;
  • Purchase property in Cyprus;
  • Work for a Cypriot company;
  • Open your business in Cyprus.

By purchasing real estate you will receive a residence permit in CyprusUsually, wealthy Russians who want to become EU citizens buy real estate in Cyprus or start a business. If your investments in the economy of the Republic of Cyprus exceed 2 million euros, then in six months you will receive Cypriot citizenship (and an EU passport). If this amount is less than 2 million euros, then you will be issued a residence permit in Cyprus.

Residence permit in Cyprus is of two types - permanent and temporary. Businessmen opening a business in Cyprus and foreigners working in Cypriot companies have the right to apply for permanent residence. Also, a permanent residence permit is obtained by non-EU citizens who have acquired real estate in Cyprus - in this case, they have the right to apply for permanent residence not only for themselves, but also for their family. Usually it is indicated that the value of the purchased property must be at least 300 thousand euros, but this is not a prerequisite. However, if you purchase a primary property worth more than 300 thousand euros (excluding VAT), you can apply for permanent residence according to an accelerated procedure within 2 months from the date of application (the usual procedure takes 6 months).

Get a residence permit in Cyprus to break your businessTemporary residence permit in Cyprus is called Pink Slip - it is issued if a foreigner stays in Cyprus for more than three months, i.e. longer than the validity period of a regular visa. Usually Pink Slip is received by non-EU citizens who marry a Cypriot citizen or intend to get a job in a Cypriot company. Residence permit is also issued by foreigners who do not work and do not have a business on the island, if they can confirm their source of income abroad. Pink Slip is valid for a year, then it can be renewed.

How to get a residence permit in Cyprus: documents, procedure

To obtain a residence permit in Cyprus, you first need to issue a visitor or tourist visa - it gives the right to reside on the island for 90 days for 6 months. You then apply for a Cyprus Residence Permit by attaching the following documents:

  • International passport (original + copy);
  • Birth, marriage / divorce certificates;
  • 4 photos;
  • Extracts confirming the total annual income outside Cyprus in the amount of at least 30 thousand euros. It can be any type of income - salary, dividends, interest on deposits, etc.;
  • Bank guarantee for a period of at least a year;
  • Copies of a certificate of ownership of real estate or a lease agreement (or an agreement with a university / work contract);
  • Medical insurance;
  • Certificate of payment of state duty.

If the applicant obtains a residence permit based on the purchase of real estate or investment in the economy of Cyprus, then the applicant's spouse, their parents, their minor children and financially dependent children under the age of 25 may be included in the application. In this case, it is necessary to confirm the additional income for each family member specified in the application. All documents must have a notarized translation into Greek or English. Six months after submitting your application, you will receive a residence permit and an Alien Book (identity card).

Features of residence permit in the Republic of Cyprus

Having received a permanent residence permit in Cyprus, it is enough to have an account and come once every 2 yearsHolders of a permanent residence permit (permanent residence) are in the most comfortable situation, because they do not even have to live in Cyprus - they just need to appear on the island every two years and have an account in one of the Cypriot banks in the amount of 50 thousand euros or more. A temporary residence permit in Cyprus is valid for a year, and at least half of this period (180 days a year), the resident must stay in Cyprus. After one year, Pink Slip must be renewed by applying for the renewal one month before the expiration date. It should also be remembered that the holder of the Pink Slip cannot be absent from Cyprus for more than three months in a row - otherwise, his residence permit "burns out" and must be received again.

As for visiting other European countries, Cyprus is not yet included in the Schengen zone, so a resident of Cyprus, unlike a citizen, will need a visa to travel. However, this state of affairs will not last long - in the near future the Republic of Cyprus will enter the Schengen area, and then residents will receive complete freedom of movement in this zone.

After seven years as a resident, a non-EU citizen has the right to apply for Cypriot citizenship - provided that during all this time he has not had problems with the law.