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Cyprus property market residence permit, Cyprus citizenship by real estate investment

Cyprus property market residence permit, Cyprus citizenship by real estate investment

 

Obtaining a residence permit is governed by the Aliens and Immigration legislation of Cyprus. EU citizens can fill in an application form for obtaining a temporary residence in Cyprus.

The non EU citizens however, should take into consideration the following:

  1. A. Temporary residence permit:

You can request a temporary residence permit either for holidays or searching for a possible permanent settlement in Cyprus.

In order to receive a temporary residence that is usually from 1-4 years, you should have a property in Cyprus, for example a holiday house, or a secured annual income.

 

  1. B. Permanent residence permit:

 

Obtaining permanentsettlement permission in Cyprus,you need to apply to the Chief Immigration Officer in Nicosiaand submit the application form M.67. According to the Regulation 5 of the Alien and Immigration Regulations, non-residents have tofall under one of the following categories:

Category 1: those who want to be self-employed and have the relative permit and qualifications to work in:

i. Agriculture, cattle and bird breeding etc. have at their disposal the amount of 425,000 EUR as capital

ii. Mining enterprises – capital of 340,000 EUR

iii. Trade or profession- capital of 255,000 EUR

iv. Profession or science

Category 2: people who were offered a permanent job in Cyprus

Category 3: people who have a secured annual income of at least 30,000 EUR per person.

If theapplication form is approved by the Civil Registry and Migration Department of Nicosia you receive the permanent residence permit without being obliged to renew itevery year.

Moreover, Cyprus,according to The Directive of the European Union 2003/109/EC, has implement the right to migrants whohave stayed legally and continuously in Cyprusfor five years, to obtain a permanent residence permit.

Where to find us:

For any further information and questions please do not hesitate to contact us, we would be more than happy to assist you.

Contact us via:

– Telephone: 00357 24 65 24 50, 00357 24 81 51 41

– Mobile: 00357 99 66 57 88

– Fax: 00357 24 65 81 21

– E-mail: marinosestates@spidernet.com.cy

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