In accordance to Regulation 6(2) a new fast track procedure came into operation in August 2012 and was revised in May 2013, giving the opportunity to obtain Permanent Residency within two months from the submission of the application.
The applications under the fast track procedure, further to the documents required for Category F, need to include the following:
- Proof of a fixed deposit of €30,000= euro for a minimum of three years in a Cyprus bank.
- Declaration of a secured annual income of a capital of at least €30.000 from sources other than employment in Cyprus (original documents and affidavit). The necessary annual income is increased by €5.000 for each dependent person.
- Property in Cyprus of a minimum market value of €300.000 with proof of payment for at least €200,000.
- Official Statement by the applicant that he/she does not intent to work or be engaged in any form of business in Cyprus.
Further details on the obtainment of a Permanent Residence Permit may be found in our relevant brochures.