Cyprus Pink Slip - Temporary Residence Permit - Michalaki, Pitsillidou & Co LLC

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Cyprus Pink Slip - Temporary Residence Permit

Non-Eu citizens are granted the right to reside in Cyprus as visitors for a year (1) with a Temporary Residency Permit under Visitor Status, also known as a "Pink Slip". A pink slip has one-year expiration and can be renewed annually. Non – Eu citizens are prohibited from working in Cyprus during this time.

It can be used also from visitors in order to prolong their stay no matter the period of their initial visa. They ought to submit an application before their present visa expires
Additionally eligible for the pink slip as dependents are the employee’s spouse, children, and parents (under the age of 18). Every member of the family submits an application at the same time, receives a temporary residency card, and fills out a separate application form.

The current procedure for obtaining a visitor permit was revised by the Cyprus Migration Department. The primary additions concern the eligibility of additional supporting documentation that must be submitted with the application.

What are the changes for pink slip application:

The applicant must provide evidence that they have a steady income from employment outside of the Republic of Cyprus of at least €2.000 per month (or €24.000 per year)
A clean criminal record certificate
If the applicant will be joined by a spouse or a minor dependent, the amount of the income requirements increases
A cash-transfer or deposit of €10.000 to a bank account in Cyprus from a bank account outside of Cyprus will also be accepted as part of a first – time pink slip application
As long as the applicant does not receive any salary from his position in the company, the applicant may receive income from dividends from a Cyprus registered company or rent from property owned in Cyprus
Original medical examination certificate of blood tests

Necessary Documents for a pink slip application

MVIS5 form duly completed, one for each member of the family.
Rental agreement or sale agreement of a house/apartment (stamped)
Bank statement & proof of transfer from abroad (Deposit/Transfer € 24.000 in a Bank account in Cyprus which should be transferred from abroad).

This amount differs for the spouse and for the children.

Bank guarantee in a Cyprus Bank, one for each family member.
Health Insurance
Medical Exams (blood test and x ray)
Documents to prove income from abroad (annual incomes differs for couples and/or with children)
Passport Copy
Marriage Certificate, certified and translated (if applicable)
Children Birth Certificate, certified and translated (if applicable)
School Enrolment confirmation for children
Criminal Record from the country of origin or residence

Current Procedure

Restrictions of Holders of Pink Slip

Cannot Leave Cyprus continuously for more than three months as the
permission would be automatically revoked
No Right to Work in Cyprus
Only those non-EU citizens who want to extend their stay in Cyprus can be granted with the pink slip.
Valid for a year and can be renewed each year