Third Country Nationals Long Term Residency Permit Services | ReLocate

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A permanent residence permit (PRP) can be provided to nationals from third states and their family members if they want to live in Cyprus on a constant basis and also eager to have a Cypriot passport, under the condition of the period of living.

The general mechanism of getting a PRP is not complicated. The candidate needs to carry out one of the subsequent investment offers:

INVESTMENT CONDITIONS:

*In the event of withdrawal of one of the investment choices, it must be at once substituted with another one. The absence of the above-mentioned substitution can lead to the abolishment of the permanent residence permit.

A. INVESTMENT IN A RESIDENTIAL PROPERTY

Acquisition of residential property with market value of at least EUR 300,000 including VAT and the payment confirmation minimum €200.000 including VAT. Also, the candidate must have a sustainable revenue of at least 30,000 EUR. For each family member, another 5,000 EUR is added to this amount, for each dependent parent of the candidate or spouse of the candidate - 8,000 EUR. Revenue must be accrued exclusively from abroad. In this case, the total income of the main candidate and spouse is summed up.

The main candidate, as well as his spouse, may be shareholders in a Cyprus company and receive dividends. Also, they can be Headers in such a company, without receiving earnings.

B. INVESTMENT IN ANOTHER TYPE OF PROPERTY

Acquisition of any kind of property, such as: offices, shops, hotels, etc. The total amount of investments must be 300 000 EUR. It can be acquired through buyback/resale. Also, the candidate must have a stable revenue of at least 30,000 euros. This sum raises on 5000 eur for every famiy member, and on - 8000 EUR for every dependent parent of the candidate or spouse of the main candidate. Revenue must be accrued exclusively from abroad. In this case, the total income of the main candidate and spouse is summed up.

The main candidate, and his/her spouse, can be shareholders in a Cyprus company and receive dividends; or they can be headers in such a company, without getting earnings.

C. INVESTMENT IN THE SHARE CAPITAL OF A CYPRUS COMPANY

Investment in a company registered in Cyprus must be 300,000 euros. The company must conduct its activities in Cyprus, have a physical office, and at least 5 employees in the state. Also, the candidate must have a stable revenue of at least 30,000 euros. This sum raises on 5000 eur for every famiy member, and on - 8000 EUR for every dependent parent of the candidate or spouse of the main candidate. Revenue must be accrued exclusively from abroad. In this case, the total income of the main candidate and spouse is summed up.

The main candidate must present confirmation of residence (i.e. a document of ownership, residential property purchase-sale agreement, or lease agreement). The main candidate, and his/her spouse, can be headers (with getting earnings) of the company in which they invested.

D. INVESTMENT IN SHARES OF A CYPRUS MUTUAL FUND (AIF, AIFLNP, RAIF)

The amount of investment in the Cyprus Mutual Fund must be at least EUR 300,000. Also, the candidate must have a stable revenue of at least 30,000 euros. This sum raises on 5000 eur for every famiy member, and on - 8000 EUR for every dependent parent of the candidate or spouse of the main candidate. Revenue must be accrued exclusively from abroad. In this case, the total income of the main candidate and spouse is summed up.

The main candidate must present confirmation of residence (i.e. a document of ownership, residential property purchase-sale agreement, or lease agreement.

The main candidate, and his/her spouse, can be shareholders in a Cyprus company and receive dividends; or they can be headers in such a company, without getting earnings.

CANDIDATES MUST PROVIDE:

  1. Document of non-conviction (Criminal Record Certificate) given by the authorities of the origin country;
  2. A copy of an authentic passport;
  3. A copy of an authentic temporary residence permit (if the candidate lives in Cyprus)
  4. Resume/CV (additionally - academic qualifications).

Options for families:

    1.   A request for a residence permit can be given simultaneously by both spouses.
    2.   Children
      2.1   Children under 18 are eligible to submit for a residence permit simultaneously with the main candidate;
      2.2   Children over 18 years old.
Unmarried children between the age of 18 to 25 who are able to confirm that they are bachelor students and financially dependent on the main candidate for a residence permit are eligible to submit a separate application. Thus, the revenue of one of the parents, or both parents, must be 5000 EUR for every dependent child. The entitlement to submit an individual request by the child remains even if children:
  • reach the age of 25;
  • enter into marriage;
  • complete the study;
  • get financial independence from parents.
The future spouse and minor children, can’t be added in such an application as dependents. To get higher education in Cyprus, children must submit for an impermanent residence permit as students according to the current legislation (EU Directive). This must be done through the selected educational organization. After the study completion, children are eligible to apply for their own request for an immigration permit. In this case, the parents of such children must prove a revenue of 5,000 euros for each such child. 2.3    Over the age of eighteen that are not financially dependent.  The market price of the investment of €300,000 is multiplied by the number of adult children who will use this investment for getting a residence permit. For one adult child, an investment constitutes -  600,000 EUR, for two adult children -  900,000 EUR. Making investments in the property market (Option A or B), the candidate must present confirmation payment in the amount of 66% of the market price. This will enable each adult child to prove that they have an insured revenue of EUR 30,000, with an increase of EUR 5000 for each dependant. Such an investment may be made either jointly in the name of the main candidate and an adult child, or in the name of the main candidate only.
KEY NOTES:
  • Visits to Cyprus by the main candidate and members of his family must be carried out at least once every two years;
  • The main candidate can apply even if he and his family members live abroad;
  • From the date of approval of the submission of biometric data, the main candidate and his family members must attend Cyprus within the first year;
  • The procedure of processing the request by the Department of Civil Registry and Migration, after its submission is 2-3 months.

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