The Ministry of Interior of Cyprus offers an efficient route to obtain the Cyprus Permanent Residency Permit. Namely, the Fast Track Route, which we outline below in further details. This is not to be confused with the Standard Route (Category F) that is also available.
Fast Track Cyprus Permanent Residency
In order to obtain the Cypriot Permanent Residency, the following criteria must be met:
- The applicant must have income streams from abroad of a minimum of EUR 30,000;
- Hold a three-year fixed deposit account with a Cyprus bank for an amount at least EUR 30,000; the funds deposited must emanate from sources outside Cyprus;
- This income must afford them a high calibre of life without them needing to be engaged in any business, employment or trade;
- The applicant and any dependents must be able to prove a clear and justifiable source of income for their savings, assets, income;
- Hold clean criminal record(s) from the relevant jurisdictions the applicant and any dependents have resided in;
- Submit birth certificates and marriage certificates (where applicable);
- Provide an affidavit that the applicant does not seek to be employed/in business in Cyprus. The applicant may though be the recipient of dividends from a Cyprus Company;
- Should the applicant wish to include a spouse or child, the annual income increases by EUR 5,000 per dependent and for any of the applicant’s parents by EUR 8,000 per individual.
In conclusion, if a Cyprus Permanent Resident Permit holder wishes to apply for Cypriot citizenship, this can be obtained by 5 years of continual residence in Cyprus during a total period of 7 years.
AXESA assures all its clients they will only be liaising with reputable market leaders in Cyprus and we ascertain that all the groundwork is formally done from valuations, legal purchase contracts and transaction procedures to give our clients peace of mind. We deliver a complete immigration solution from cradle to grave.