Category Reg. 6(2) Immigration Permit, gives you Non-EU nationals and you Non-EU family members, the right to permanently reside in Cyprus.
- Exempts you from immigration entry procedures (ie Visitor’s Visa).
- Your family can also obtain it (married spouse, civil partner, children under 18 years old and financially dependent children up to 25 years old).
- As of February 2016 the parents of the investor and/or of his/her spouse can also obtain Permanent Residence as dependants.
- The Permit is granted for an indefinite duration.
- The application can be submitted even if you are abroad.
The importance of the fast track procedure for the grant of a PR permit, is that the application is examined by the Minister of Interior in a positive manner and the PR is issued. The examination for the approval of the PR application does not exceed the duration of two (2) months, commencing from the date of the submission of a complete application.
- The applicant should submit a confirmation letter from a financial institution in Cyprus that he/she has deposited a minimum capital of €30.000 into an account, which will be pledged for a period of at least three years. It must be proved that the said amount has been transferred to Cyprus from abroad.
- The applicant should prove that he/she has at his/her disposal a secure annual income of at least €30.000. This annual income should increase by €5.000 for every dependent person of his/her family (spouse and children) and by €8.000 for every dependent parent or parent-in-law. This income should derive from abroad, and may include salaries from employment, pensions, dividends from shares, fixed deposits, rents a.s.o. For the calculation of the total amount of the annual income, the spouse’s income may be also taken into consideration.
- The applicant should submit, together with the application, title deeds or a sale contract in his/her name and/or his/her spouse, which has been officially filed at the Department of Lands and Surveys, of a real estate, of total market value of at least €300.000 (V.A.T. is not included therein) and official payment receipts of at least €200.000 (excluding V.A.T.), irrespective of the delivery date of the real estate. It should be stressed that the full payment of the real estate value shall be settled in an account in a financial institution in Cyprus. The abovementioned amounts must be proven to have been transferred to Cyprus from abroad.
- The real estate purchase may be accepted even when made in the name of a company, provided that the applicant and/or his/her spouse are the sole shareholders or the ultimate beneficial owners of it, and that the said company is legally established in the Republic of Cyprus, or other member state of the European Union or the European Economic Area.