Obtaining residence permit in Cyprus

Description

Residence permit in Cyprus is the permission for constant residence in the territory of the country. If the owner of residence permit doesn't live in Cyprus within 2 years without any breaks, the right for residence permit can be lost. The law demands from the applicant to live constantly in the territory of the country not less than 183 days in a year. Directly before the residence permit obtaining the applicant is obliged to live in the territory of Cyprus, therefore together with the application for residence permit the application for temporary residence in the country is also submitted.

Residence permit is also given to spouses and children (till 18 years) of the owner of this document, and the application, the one for all the members of a family, is submitted to a governmental body. Residence permit is given to those persons who have the annual revenue, capable to provide a worthy standard of living in Cyprus, herewith without doing business in the territory of the country.

Requirements:

• annual revenue of an applicant should be not less than 11 000 euro; if the applicant has dependents, for each such a dependent the annual sum should be 5500 euro. However in each concrete case the service of immigration control can demand acknowledgement of additional funds presence;

• the mentioned income of the applicant should be received not from business in Cyprus, but only from abroad (for example, pensions, deposits, actions, incomes of possession of the company etc.)

Applicant should also:

-       Purchase the real estate in Cyprus at the price not less than 300 000 euro;

 

-       Have the bank deposit at the amount of 250 000 euro. Money resources are transferred to bank account in Cyprus; after getting a necessary certificate from the bank, money can be used at the discretion of the applicant.

Pay attention that these two conditions are applied separately but the mentioned sums can be lower if both conditions take place.

Necessary documents for residence permit obtaining:

- notarized certified copies of the passport of the applicant (his wife, dependents if those are available); notarial assurance should be within two years before the filing of application;

- notarized certified copies of the international passport of the applicant (his wife and dependents); notarial assurance should be within two years before the filing of application;

- certificates of children birth (with notarized certified transfer and endorsed with an Apostille);

- the certificate (diploma) on the educational institution termination (with notarized certified transfer and endorsed with an Apostille);

- the marriage certificate (with notarized certified transfer, endorsed with an Apostille);

- medical insurance of the applicant (also the spouse and children);

- short biography;

- certificate from the bank, confirming the presence on the account at least 250 000 euro;

- documents originals confirming the presence of unearned incomes, with instructions of funds source (for example, the income from shares);

- documents copies authenticated by the Registrar confirming the presence of unearned incomes with instructions of funds source;

- documents originals confirming the purchase of real estate in Cyprus (purchase and sale agreement with price indication);

- document confirming an occupation of the applicant;

- endorsed with an Apostille (in case of presence of the foreign company) documents of the company which the applicant possesses (with indication of the annual revenue, company income): the registration certificate, the registered address certificate, the data on shareholders and the director, the charter and the articles of incorporation);

- certificate of incumbency (for example, for an electricity that will confirm residing in Cyprus);

- recommendation letter from bank;

- document confirming criminal past absence;

- 4 photos.

For residence permit obtaining the application should be directly submitted to the Department of Civil registrations and migration or through the police branches, engaged in affairs of foreigners and immigrants. Corresponding documents should be added to the application.

Residence permit is given from 6 months till 1 year (the commission on consideration of statements gathers two times a year).

This permission for constant residence in Cyprus is given once and for the unlimited period of time. At passport change, the stamp is put in a new passport. The owner can be deprived residence permit if its intention to live in other country is proved. Each case is considered separately and the body which gives residence permit has the right to make the decision under own discretion. Usually the question on deprivation residence permit arises, when its owner doesn't exercise the right of constant residing in Cyprus within 2 years.

The cost of resident permit obtaining in the territory of Cyprus is 7 500 euro.