Permanent Residency

Cyprus Permanent Residency
Clients who seek to obtain a Permanent Residency Permit in Cyprus for themselves and their families can do so in two ways: by purchasing property in Cyprus, or by legally residing on the island for a continuous period of more than five years.
This route to Permanent Residency can be done via a ‘Fast Track’ and a ‘Normal Track’ procedure. The former takes two months, while the latter takes one year, and both are popular options for many third-country nationals seeking EU residency.
Benefits of Cyprus Permanent Residency:
- EU residency in one of the safest and most secure jurisdictions, with one of the lowest crime rates in the EU
- Cyprus enjoys a very cost-effective tax regime, with favourable tax rates and an extensive network of double tax agreements.
- Ability for non-EU nationals to travel within EU. The permit grants the right to visa-free access to a number of Schengen countries.

Permanent Residency Normal Track Option
As per Regulation 5(f), a third country national who rents or purchases a house or apartment worth a minimum of €300,000 may apply for permanent residency under the normal-track basis, provided that:
- They have a secured annual income of at least €10,000 from sources outside of Cyprus. The amount is increased by €5,000 per dependent added to the application.
- The applicant must not maintain employment in Cyprus and his or her income must derive from legal sources abroad
- Supporting evidence that all the financial needs of the family are adequately catered for must be given to ensure that the income is secure and provides sufficient support for the applicant and their family.
- The applicant will also undergo a Fit and Proper test.
Unlike the fast-track basis, the normal-track basis imposes a lower threshold of annual income. Moreover, the normal basis is more flexible as it gives the applicant the option to rent, rather than purchase a property. Additionally, upon filing the application the applicant will be able to freely travel to and from Cyprus with no obstacles.
Permanent Residence Permit for non-EU citizens residing in Cyprus
Third Country Nationals may apply for a Permanent Resident Permit upon legally staying in Cyprus for at least 5 years and having held a Temporary Resident Permit for the entire preceding period.
The Temporary Resident Permit is called a ‘Pink Slip,’ and it is issued for Non-EU citizens who come to Cyprus for long-term purposes.
This type of permit can be issued for a period of 1 to 4 years (with a limitation of absence period not more than 4 months).
Types of Temporary Residence Permits
Third Country Nationals may apply for a Permanent Resident Permit upon legally staying in Cyprus for at least 5 years and having held a Temporary Resident Permit for the entire preceding period.
The Temporary Resident Permit is called a ‘Pink Slip,’ and it is issued for Non-EU citizens who come to Cyprus for long-term purposes.
This type of permit can be issued for a period of 1 to 4 years (with a limitation of absence period not more than 4 months).
Each student who takes a long-term course at a Cyprus educational institution must obtain permission for long stay. Students from non-EU countries can be issued visas by an Embassy / Consulate of the Republic of Cyprus in the student’s home country or by the Migration Department of Cyprus. International students must report to their educational institution immediately upon arrival to register and complete other formalities required for obtaining further temporary resident permits.
Applications for the issue of Entry and Temporary Residence and Employment Permits must be submitted by the Cypriot employer through the District Office of the Aliens and Immigration Unit of the Police or at the Central Offices of the Civil Registry and Migration Department in Nicosia. The applications should be submitted along with the contract of employment certified by the Department of Labor of the Ministry of Employment and Social Insurance, which is the competent Department for securing that there are no Cypriots or citizens of Member States of the European Union, available or adequately qualified for the specific job or post prior to recommending the employment of third country nationals. The applicant must proceed to register with the District Office of the Aliens and Immigration Unit of the Police. The maximum duration of employment in most cases is four years (exemptions may apply).
Companies that meet the criteria to be classified as foreign interest companies are also eligible to employ third country nationals in Cyprus. They must meet the following criteria:
• The majority of the company’s shareholders or ultimate owners should be foreign
• The company should operate from their its own fully fledged offices in Cyprus
• New companies should prove that they have direct foreign capital investment amounting to at least EUR 171,000 brought legally to Cyprus from abroad
Documents required for Temporary Residence Permit (Pink Slip) application (where applicable):
• Copy of sale agreement or rental agreement or title deed
• Copy of employment contract duly signed and stamped
• Proof of funds deposited in a personal bank account
• Passport(s) copy (plus copy of first page and last entry stamp)
• Pension certificates + translation and any other source of income such as interest, rental income, other investments. The applicant must provide evidence of steady and regular income, adequate for the maintenance of the applicant and his/her family, from external sources
• Bank guarantee (as required);
• Marriage certificate + translation with apostil (Russians exempted)
• Birth certificate for children + translation with apostil (Russians exempted)
• 4 photos for first issue (1 photo for renewal)
• Medical Insurance which is automatically renewable
Family members of non-EU citizens living in Cyprus who are non-EU citizens themselves may also apply for a Permanent Residence Card which is valid for 5 years and can be extended.
The Yellow Slip is the permit required for EU citizens seeking to reside and work in Cyprus, thus spending more than 3 months in the country.
Within just 12 working days, the Yellow Slip programme grants EU citizens the opportunity to settle and work in Cyprus permanently without the need to renew the permit.
The applicant may also include members of the family who will be able to reside and work in Cyprus. Family members who are non-EU nationals will become eligible for the Pink Slip, a temporary and renewable document which is valid for 5 years.