According to Regulation 6(2) of the Aliens and Immigration Regulations, as amended, non-EU nationals are entitled to a Category F Immigration Permit (Permanent Residence Permit) provided that the following criteria are fulfilled:
- The applicant needs to submit the relevant Immigration Permit Application Form followed by a proof of property ownership (such as a Title Deed or a Contract of Sale, of a property in Cyprus, such as a house, apartment or other building). The property’s market value shall be of at least €300.000 and the amount of at least €200,000 is paid already. All funds need to be transferred from abroad. The contract of sale must have been already submitted to the Department of Lands Registry of the district where the property is situated.
- Permanent Residence does not entitle the applicant to Work Permit. The applicant must have proof of stable annual income of at least €30.000, from such sources other than employment in Cyprus. The required income of €30.000 could derive from salaries of employment abroad, dividend payments, contractual remunerations, pensions, shares, rents, etc. The necessary minimum annual income is increased by €5.000 for each dependent person.
- The applicant must file, together with the application, a letter issued by any Bank operating in Cyprus confirming that he/she has a minimum deposit with such bank of €30.000, which shall remain on an account for at least a three year period. Such funds should be proven to have been transferred to Cyprus from abroad.
- The Application must be followed by a Clean Criminal Record Certificate, issued by the relevant Authorities in his/her country of origin. The Civil Registry and Migration Department may discretionary reject an applicant in case that he/she may constitute any threat against public order or security in Cyprus.
- The applicant should further submit a Declaration that he/she does not intent to work or be engaged in any form of business in Cyprus.
- Successful applicants should visit Cyprus at least once every two years.
PROCEDURE FOR THE SUBMISSION AND EXAMINATION OF AN APPLICATION
- Applications are submitted on Form M.67 to the Civil Registry and Migration Department or to the District Offices personally or through a legal representative.
- Applications are examined by the Civil Registry and Migration Department and are thereafter being submitted to the Minister of Interior for a final decision. In general, for the purposes of this specific type of immigration permit, no personal interviews are required, unless the Permanent Secretary of the Minister of Interior discretionally decides that an interview is necessary.
- Upon approval, the Immigration Permit shall not be cancelled provided that the applicant visits Cyprus at least once, every two years period.
It is notable to say that provided that all criteria are fulfilled and no further questions arise with respect to the Criminal Record of the applicant, or Public Order, applications examined in a friendly, positive and cooperative spirit.
According to the current process, it is estimated that the period for the examination of the application does not exceed a period of 2-4 months.