P e r m a n e n t
R e s i d e n c y
S c h e m e
For the Permanent Residency Permit applicants have to fulfill the criteria below:
- Evidence of a steady income from abroad of at least €30,000 from sources other than employment in Cyprus (certificates of dividends, certificates of fixed deposits, pension statements, rents or salary advice).
The minimum annual income is increased by €5,000 for each dependent person.
- Confirmation letter from a Cyprus bank indicating deposits of a minimum capital of €30,000 from sources other than employment in Cyprus. The capital should be transferred from an International bank to a local Cypriot Bank and it should be pledged for at least a period of three years.
- Submission of a title deed or purchase agreement of a residential property issued on the name of applicant of a minimum market value of €300,000 (plus Vat) and a proof of payment for at least €200,000 excluding VAT
Additional conditionals and requirements
- Clean criminal record
- Statement confirming that the applicant has no intention to work or be engaged in any form of active business in Cyprus
- The applicant should visit Cyprus at least once every two years
Other important information
An Investment Permit can also be granted to children of the applicant over the age of 18, not financially dependent, provided that the market value of the acquired property attributed to each such child is at least €300.000 excluding VAT.