Cyprus Permanent Residence
A Category F Permanent Residence Permit (PRP) in Cyprus allows immediate family members to acquire permanent residency simultaneously with the applicant. The procedure of obtaining the permanent residency permit takes around two to three months.
- The option of a second home for the holder
- Status valid for life
- The right to lower university tuition fees in some European countries
- The potential to acquire a Cyprus (EU) passport after 7 years
- Visit Cyprus at least once every two years
- Have a minimum overseas annual personal income of €30,000 (combined for applicant and spouse), including €5,000 for each of the applicant’s dependents. The parents of the main applicant and those of his spouse are also able to apply and obtain the Permanent Residence Permit by just showing an extra 8,000 euros each on the main applicant’s income certificate.
- Purchase a residential property in Cyprus. If the purchase cost is over €300,000 then the Cyprus Authorities expedite PRP processing time to 2 months (otherwise 6-12 months). There must be proof of payment of at least 200.000 Eur excl. VAT;
- Under the fast track process, it is possible to buy two properties: this can be either (i) two houses (or apts), or, (ii) a house (or apt) + a shop up to 100 sqm, or, (iii) a house (or apt) + an office up to 250 sqm
- Deposit €30,000 for three years in a Cyprus bank account
- Confirm that they do not intend to be employed in Cyprus. It is to be noted that the applicant and/or his spouse may be a shareholder(s) in a Company registered in Cyprus and the income from the dividends of such a company in Cyprus are not deemed an impediment for the purpose of obtaining an immigration permit.