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Cyprus Permanent Residence – Simplification, Clarification and Speedy Responce

Michalaki, Pitsillidou Law Firm > English Articles  > Cyprus Permanent Residence – Simplification, Clarification and Speedy Responce

Cyprus Permanent Residence – Simplification, Clarification and Speedy Responce

Cyprus permanent residence

The Council of Ministers with a decision taken 22nd August 2012, allows the Minister of Interior to take a decision on category F immigration permits applications (Permanent Residency) without the application having to go through the 4-member committee that has been deciding up to now, thereby speeding the process.

The criteria for a fast and unilateral decision by the Minister are as follows:

    • The applicant has to prove annual sufficient and secure income from abroad of at least €30,000= (from income, interest, rentals, dividends, pensions, etc.) plus €5.000= for any dependent member of the family.
    • To purchase a home or other property inCyprusof at least €300,000= value or more and proof of payment of at least €200,000= of this amount before the application is lodged.
    • Proof of a fixed deposit of €30,000= euro for a minimum of three years in a Cyprus bank.
    • All amounts mentioned above must be proven to have come from abroad.
    • Police clearance certificate from the Authorities of the country of origin to be submitted.
    • Official declaration that the applicant will not engage in any form of employment inCyprus, paid or unpaid.
    • Subject to verifying the truth and accuracy of all papers that will be submitted with the application.

For any applicants who do not meet one of these criteria, their application will be examined in accordance with the normal procedure.

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