IMMIGRATION SERVICES

Temporary Residency Permanent Residency

Temporary Residency Permits

Pink Slip in Cyprus is valid for 1 year and can be renewed on an annual basis. Under this permit, a person is allowed to live in Cyprus as a visitor (without the right to work).

Also, his family members, spouse, and children (under 18 years old), can get the pink slip as dependents. 

The whole family applies at the same time; each family member files a separate application form and gets his temporary residence card.

Pink Slip Visitor

In order to be eligible for this type of permit, the applicant mainly needs to show:

  • Adequate income from abroad to cover living expenses while residing in Cyprus (estimated about €15,000 – €20,000 for a three-member family)
  • Either rented or bought a house or apartment

Pink Slip Restrictions:

Non – Foreign Interest Companies 
Applications for the issue of Entry and Temporary Residence and Employment Permits must be submitted by the Cypriot employer through the District Office of the Aliens and Immigration Unit of the Police or at the Central Offices of the Civil Registry and Migration Department.

Employment Visa

The applications should be submitted along with the contract of employment certified by the Department of Labor of the Ministry of Employment and Social Insurance, which is the competent Department for securing that there are no Cypriots or citizens of Member States of the European Union, available or adequately qualified for the specific job or post prior to recommending the employment of third country nationals.

The applicant must proceed to register with the District Office of the Aliens and Immigration Unit of the Police.

The maximum duration of employment in most cases is four years (exemptions may apply).

The companies that meet the criteria to be classified as foreign interest companies are also eligible to employ third country nationals in Cyprus. They must meet the following criteria:

Foreign Interest Companies:

  • The majority of the company’s shareholders or ultimate owners should be foreign
  • The company should operate from their own fully fledged offices in Cyprus

The requirement of new companies having to prove that they have direct foreign capital investment amounting to at least €171,000 is now abolished

Permanent Residency Permits

If you plan to live and invest in Cyprus on more or less a permanent basis you should apply for a Permanent Residency Permit (PRP), and we shall gladly assist you at each step of the application process.

PRP Qualification Requirements

In line with the Cyprus government’s objective to increase foreign investment, the Ministry of Interior recently simplified the procedure for obtaining PRP status to non-EU nationals.

Category 6.2 & F

  • Submit a title of ownership or contract of purchase for a property for which the value is at least €300,000 (+ VAT). The property must be new and purchased from a developer. It is not mandatory for an applicant to purchase just one property. He/she can purchase two properties provided that the total value of the properties is at least €300,000 (+ VAT) and the properties are purchased from the same developer
  • Provide evidence that the purchase is made from funds received from sources outside Cyprus
  • Provide evidence of annual income of at least €30,000 from sources outside Cyprus. This can be from salary, dividends, rental revenue, interest from bank deposits, pension income, etc
  • Provide evidence of additional annual income of €5,000 a year for each dependent and €8,000 for each parent of the main applicant or spouse, if they are included in the application
  • Deposit at least €30,000 into a Cypriot bank for a minimum three-year period
  • Submit a clean criminal record certificate issued by the police authority of their country of residence
  • Declare their intention not to be employed in Cyprus – PRP holders are however permitted to own Cyprus companies and receive dividends
  • Visit Cyprus within one year of the grant of the PRP to take receipt of the PRP

The “fast – track” procedure requires an applicant to:

Benefits of a PRP

The maximum period for granting PRP under the simplified procedure is two months. PRP status does not impose any restrictions to the period of stay in Cyprus. The only exception is that a holder must visit Cyprus at least once every two years to maintain PRP status. PRP holders are free to enter and live in Cyprus without the need to obtain a visa.

Actual residence in Cyprus may lead to eligibility for Cyprus citizenship by naturalization, currently after seven years of staying in Cyprus within 10 calendar years.

  • Consulting on the requirements of the application process.
  • Advising on any questions/issues that need to be clarified.
  • Assisting with drafting relevant documents.
  • Assisting with the legal overview of purchase agreement and/or of relevant documents.
  • Assisting with the real estate Due Diligence.
  • Assisting with examining tax implications from the investment.
  • Reviewing the application documentation to ensure required quality standards.
  • Submitting the completed application to the Cypriot authorities on the client’s behalf.
  • Monitoring the status of the review by the authorities and informing the client.
  • Acting as a liaison with authorities during the examination of the application.
  • Accompanying the client and his/her dependents to the Civil Registry and Migration Department.

Our dedicated team, in co-operation with associates, can assist with all aspects in the making of a PRP application including: