Reasons to seek domicile in another country can be numerous and significant – whether it is to seek better placement for business activities in the European Union and the ever increasingly globalised market, or to attain a higher life quality, our firm is ready to assist with all the necessary procedures.
TEMPORARY RESIDENCY – VISITORS
Every non-EU citizen can apply for a Temporary Residency Permit, which is renewable periodically.
Temporary residency permits are typically valid for up to 1 year or more. The holder must apply for renewal of the permit at least 1 month prior to its expiration and the must not leave Cyprus for over three consecutive months.
After 5 years of residency in Cyprus with such permit in, the temporary residency permit holder may apply for permanent residency.
TEMPORARY RESIDENCE – EMPLOYEES OF INTERNATIONAL COMPANIES
Companies of foreign interest may apply to obtain temporary residence and employment permits for third country nationals by investing a minimum amount of €171.000 and operating through suitable own offices.
Such companies may employ up to 5 directors with minimum gross monthly wages of €3.872 and up to 10 middle management staff with minimum gross monthly wages between €1.936 – €3.871.
Temporary residence and work permits are valid for up to 2 years and are renewable, while families of employees holding such permits may apply and receive temporary residence permits under the family reunification procedure.
Permanent Residency permits under Category F may be granted to individuals who have at their disposal secured income arising from abroad and through the purchase of a property in Cyprus of a minimum value of €300.000 not including VAT, the Permanent Residency permit can be obtained through the fast track procedure under Regulation 6(2).
Permanent Residency permits are extended to eligible family members and the holders of Permanent Residency permits must visit Cyprus at least once every two years.
The examination time period for Category F applications is 8-10 months, whilst under the fast track Regulation 6(2) procedure, applications are examined within two months.
For both procedures, the applicants must have a clear criminal record and should provide confirmation of secured annual income arising from abroad, high enough for them to enjoy a reasonable standard of living in Cyprus, without having to engage in any form of business, trade, profession or employment.
We advise and undertake the required procedures for obtaining Permanent Residency permits, under the Category F and Regulation 6(2) fast track procedures, as well as Long Term, Temporary Residency, and work permits.