Non-EU citizens who want to live permanently in Cyprus must apply for, and be granted, a permanent visa. The Ministry of Interior of the Republic of Cyprus will issue an Immigration Permit to third country applicants who intend to invest in the country.
A Permanent Residence Permit (Immigration Permit) will be granted to non-EU nationals, their spouse, dependent children under 25 as well as any dependent parents of both spouses; this allows permit holders to reside in and travel to Cyprus without having to undergo any immigration entry procedures.
REQUIREMENTS TO APPLY FOR CYPRUS PERMANENT RESIDENCY
Purchase of Real Estate
The purchased property must be new (not a resale) and have a minimum value of €300,000 + VAT.
A minimum of €200,000 + VAT of the property’s value must already be settled
The applicant must provide proof of the transfer of €200,000 from a foreign bank to a local bank
Bank Deposit
A bank deposit of €30,000 must be blocked with the bank operating in Cyprus, and must have been transferred to Cyprus from abroad.
Income
The applicant’s income must derive from sources other than employment in Cyprus
Income of at least €30,000 plus €5,000 for each dependent family member
Legal source of income (interest, dividends, salary, etc.)
Restriction of Any Professional or Business Activities in Cyprus
The applicant must provide a statement that he/she does not intend to work in Cyprus.
Clean Criminal Record
The applicant, his/her spouse, and any dependent children over 16 must be able to provide a clean criminal record from the country of their origin, which should be certified by the Cyprus Embassy.
Visit to Cyprus
The applicants should visit Cyprus at least once every two years.