TEMPORARY RESIDENCE PERMIT (PINK SLIP) OF NON EU:
Holders of such temporary residence permit should not live abroad for a continuous period of 90 days and should live in Cyprus for a total period of 6 months.
APPLICATION FOR PERMIT UNDER CATEGORY F OF REGULATION 5 OF THE ALIENS AND IMMIGRATION REGULATIONS CAP105 (Usually it is referred as permanent residence.)
This permit is also granted to the spouse and minor children (under the age of 18) of the holder.
It may be granted to persons who possess and have fully and freely at their disposal a secured annual income high enough to give them a decent living in Cyprus, without having to engage in any business, trade or profession such as business activities, ownership of companies, shares, income from rents, pensions etc. The income can vary from €20000 per year and over depending on the number of the members of the family.
It is necessary also to show enough money in a Cyprus bank and proof that they came from abroad. The amount should be at least €150.000. This amount can vary in case of high income.
The requested documents are as follows:
Upon a Direction from the Minister of Interiors, when a non EU Member buys a property of €300.000 and more can even more easily obtains the above permanent residency than before.
He must open a current account as well and he must show that he is spending money in Cyprus for his living (food, clothes etc). He must produce a rental agreement in his name or buy a property in his name. The money it will be better to be fixed deposit but if it is not it will be also ok.
The first appointment for the pink slip can be arranged within one week after we have all the necessary documents.
When Clients have a multiple entry visa for Cyprus and do not wish to stay in Cyprus before the approval of the Permanent Permit then a pink slip is not required. We can apply directly for permanent residency without the Client’s presence in Cyprus. In a later stage we shall be notified for the date and time of the appointment where the Client must attend.
Please note that in case a holder of the Category F permit does not live in Cyprus for almost two years he might lose his right of permanent residence in Cyprus.
Residency for property buyers
Buying property in Cyprus and Greece allows the buyer to easily obtain a residence permit in these countries.
PropertyLink offers an A to Z service for those non-EU citizens seeking Cyprus and Greece residence permits by means of buying property in these countries.
Over the many years of successful work, we have arranged the issuance of residence permits for hundreds of families from all over the world, including Russia, CIS countries and China.
To be granted a life-long (permanent) residence permit in Cyprus the applicant needs to purchase a new property or two new properties from the same developer with a total price of 300,000 euros, excluding the VAT. At the time of submission of the application to the Immigration department, 200 000 Euros (excluding the VAT) must have been transferred in settlement of the property value and the contract of sale must have been registered with the Lands office. The issuance of a Cyprus permanent residence permit takes about 2 months and applies to all family members, including children below 18 years old. In addition to the purchase of property, the applicant has to open a 3-year deposit account of 30 000 euro in a Cypriot bank, and the money to the account has to be transferred from outside of Cyprus. The applicant is also required to confirm an annual income of 30 000 euros + 5 000 euros for each financially dependent family member outside of Cyprus.
A Cyprus residence permit allows the holder to stay in Cyprus all year round.
The unique advantage of the Cyprus permanent residency program compared to those of other European countries is that to keep your Cyprus permanent residency you do not commit to live in the country for at least 3 months a year, you only need to visit Cyprus at least once every two years.
Requirements for Greek residency are similar to the Cyprus ones for the difference that the property should be worth at least 250 000 euros, the residence permit is issued for 5 years and applies to the entire Schengen zone.