Resident companies are taxed on their worldwide income at a corporate tax rate of 12.5%. They are not allowed to work full-time, and even so, only in certain sectors of employment. The company’s application package consists of a number of corporate documents such as company incorporation, directors’ and ultimate shareholders’ certificates, as well as deposits of funds in banks operating locally. Examination and processing of applications takes around 12 months. However, while you are living in Cyprus with a temporary Cyprus residence permit, you cannot leave the country for longer than 3 months since your permit would be automatically cancelled. As such, if you are an EU or EFTA citizen and want to stay in Cyprus longer than 90 days, you have to simply register your stay at the Civil Registry and Migration Department and get a Registration Certificate (also known as a Yellow Slip). Cyprus Residence Permit by Investment for non EU Cyprus offers an accelerated procedure for the granting of Cyprus Permanent Residence Permits through investment, thus making Cyprus as an ideal destination or non-EU nationals wishing to acquire a permanent residence in a European country. Work and residence for Non EU investors in Cyprus. The most popular of these is the Cypriot Residence Permit for Non-EU Citizens. A Pink Slip can be easily renewed for another term. The said residence permit is issued within six months from the date of application and the submission of the required documents by the applicant (please note that a fine is imposed in case of non-compliance). Other documents which are related to the reason you want to live in Cyprus, such as: Marriage/birth certificate for family reunion, Proof of enrollment in an educational institution for international students, You must prove you purchased the property with funds acquired outside Cyprus, You must have an annual income of at least €30,000, which you receive from outside sources. If you have been in Cyprus for less than 5 years you should apply for an MEU1 (temporary residency permit). For non-EU citizens however, moving to an EU nation can be a more difficult prospect. You have to get the visa in your country of residence and after arriving in Cyprus, apply for the residence permit. A Long-Term Residence Permit has a five-year duration and is renewable. Before you get the residence permit, you must get an entry visa depending on your purpose of travel, such as a student visa or work visa. For non-EU citizens however, moving to an EU nation can be a more difficult prospect. EU/EEA Nationals: Under the EU principles of freedom of movement, EU/EEA Nationals are free to work in Cyprus without a work / residence permit. If you have dependents (children under 18 and a spouse), you must have an additional annual income of €5,000 a year for each one. Permanent residence permit in Russian is often called permanent residence permit or permanent residence permit in Cyprus, i.e. Types of residence permits in Cyprus. CYPRUS PERMANENT RESIDENCE - RESIDENCE PERMIT - IN 2021 Cyprus Residence Permit - Background Cyprus is a tranquil island strategically located in the heart of Europe but at the crossroads of three continents - Europe, Asia and Africa. (In case self-isolation is required, the preparation of the documents can be done after the quarantine is over) 1. An immigration permit is the equivalent to a permanent residence permit in Cyprus. citizens not resident in any EU State), if such work permit might deprive a local Cypriot resident of work. You do not need to have a work or residence permit to start working and you do not have to undergo the usual application procedure for a residence permit (in other words, your application is not at risk of being rejected). However, the temporary residence permit does now automatically authorize the holder to work. In general, for the purposes of this specific type of immigration permit, no personal interviews are required. Examination and processing of applications takes around six months. Does Cyprus law allow wills to be signed…. Certificate of police clearance, issued from your country of residence within the past six months. This includes non‑EU family members. Non-European citizens are allowed to apply for Residence Permit in Cyprus on the basis of the Categories referred to in Regulations 5 and 6(2) of the Aliens and Immigration Regulations. Non-EU nationals can be employed by a Cyprus registered international company, as long as more than 50 percent of its shareholders are foreign nationals. The Immigration Permit continues to be valid provided that the holder visits Cyprus at least once every two years. • A Permanent Residence Permit (Immigration Permit) will be granted to non-EU nationals, their spouse, dependent children under 25 as well as any dependent parents of both spouses; this allows permit holders to reside in and travel to Cyprus without having to undergo any immigration entry procedures. However, you must fulfill certain conditions, such as: A Cyprus Permanent Residence Permit allows the holder similar rights to Cypriot citizens, including: You can also get residency in Cyprus if you fall under one of the following categories: You can only receive an Immigration Permit in one of the above-mentioned categories if the Immigration Control Committee recommends to the Minister of Interior that you meet the requirements of one of those categories. Overall, there were 3 million first residence permits issued in the EU in 2019 to non-EU citizens, an increase of 6% (or 163 000) compared with 2018, continuing … You may obtain a Residency permit for a period from one up to four years. Find out more about Permanent Residency with us! The EU long-term residence permit is a permanent residence title to live in an EU member country. In order for you to be entitled to such a temporary residence visit, you need to fall into one of the following two categories: The legal requirements for visiting or staying in Cyprus depend on whether the applicant is a European Union (EU) citizen or non-EU citizen, reason for entry into Cyprus, and intended duration of stay. In case you plan to live in Cyprus on more or less permanent basis you should apply for a residence permit. If your application is approved, they will contact you to go and receive your residence card. Any foreign national who wants to live in Cyprus has to obtain a Cyprus residence permit. You should visit the website of the Civil Registry and Migration Department to look about their contact information and make an appointment. EU citizens who wish to acquire a second Cyprus passport should hold a valid Schengen Visa (Not applicable to Non-EU nationals). In order to obtain a residence permit, you should only fill out an application form at the Immigration Service. In order to evidence your rights to live, work, study or access benefits in Cyprus after the end of 2020 you need to apply for residency. Non-EU citizens, who come to Cyprus for long-term purposes, may apply for a Cyprus Temporary Residence Permit, commonly referred to as “Pink Slip”. Does Cyprus law allow wills to be signed…. Residence Permits . The procedure for obtaining this permit is considered as a very simple one and successful applicants … The application package for the issue of the Temporary Employment and Residence Permit includes a number of documents such as a clean criminal record, medical insurance certificate, bank guarantee and medical examination results. A recommendation for the employment of aliens is made by the Ministry of Labour and Social Insurance after it. According to the law, a non-resident of Cyprus, who owns property in Cyprus has the right for a residence permit. In order to evidence your rights to live, work, study or access benefits in Cyprus after the end of 2020 you need to apply for residency. Simplified Procedure of Obtaining Permanent Residency for Non-EU Citizens or Nationals. Every foreign national who comes to Cyprus to work has to get a residence permit upon arrival. The number rose by 6% (or 163 000) compared with 2018, continuing the upward trend observed since 2013. To apply for a Temporary Cyprus Residence Permit, you must submit the following documents: The Permanent Residence Permit for Cyprus is valid for up to five years, and can be renewed before it expires. Regulation 6 (2) Permanent Residency Permit grants a Non-EU national the right to permanently reside in Cyprus with no renewal requirements; Lifts traveling restrictions and elaborate visa requirements (i.e. Applications are reviewed by the Immigration Control Board and the Minister of the Interior grants final approval. obtaining permanent residency through investment, Purchased in Cyprus one or two new real estate properties with total purchase cost of at least €300,000 (excluding VAT). I want to move to the UK/EU. IPC EU MIGRATION SERVICES, a subsidiary of IPC International Group (IPC), specialize in offering Investments for non-EU Nationals including, EU Permanent Residency Permits and Immediate EU Citizenship Programs in Cyprus, Greece, Spain, Portugal, United Kingdom and Other Countries. The application package for the issue of the Temporary Employment and Residence Permit includes a number of documents such as a clean criminal record, medical insurance certificate, bank guarantee and medical examination results. Permanent Residence Permit. At the end of 2017, there were 20.3 million valid residence permits granted to non-EU citizens permitting them to reside in one of the European Union (EU) Member States. The right of permanent residence in the Republic of Cyprus shall be enjoyed before completion of a continuous period of five years of residence … An expedited procedure which complements Category F enables the granting of an Immigration Permit to non-EU nationals who invest in Cyprus. In order to obtain a residence permit, you should only fill out an application form at the Immigration Service. The dependants of employed non-EU nationals (wife/husband and children under 18 years old) can also obtain Temporary Residence Permits through a separate application submitted under the Family Reunification process. The holder has access to employment in all international and local companies, and has the right to change employer. If you are a student or foreign worker, your school or employer will help you with the application process. There are no restrictions for the EU citizens. For those foreigners who are not E.U. 4. ... you should submit the following required documents in order to get your Cyprus Residence Permit card. EU Nationals from member states have the right to enter Cyprus by simply showing a valid EU passport or ID card without having to register upon arrival. The above permits are issued within 7-10 working days after application submission. citizen, but have purchased property in Cyprus and are retiring in Cyprus, they must apply for a residents permit. The highest number of permits were granted to citizens of Ukraine (662 thousand); almost three times as high as the number of Syrian citizens (223 thousand); the second highest number. 3. In the EU, check with your host country’s authorities as soon as possible if it is mandatory to apply for a new residence status. But, they’ll need people, ideas, and investment to thrive. This application is submitted concurrently with that for the issue of a Temporary Employment and Residence Permit to the first non-EU national employee. Employment by companies owned by Cyprus or other EU nationals is subject to very restrictive regulations. According to the law, a non-resident of Cyprus, who owns property in Cyprus has the right for a residence permit. Long-term residence permits in Cyprus are valid for five years and can be renewed. The Immigration Permit grants non-EU nationals, as well as their wife/husband and children under 18 years old, the right to permanently reside in the country and travel to Cyprus without immigration entry procedures. Applications are submitted on the basis of one of the following categories: Persons who intend to work as self employed in a trade or profession in the Republic, provided that they have in their possession a relative permit, they have fully and freely at their disposal the required capital and that such an employment should not affect negatively the general economy of the Republic. A Long-Term Residence Permit is granted to non-EU nationals who have resided legally and continuously in Cyprus for a period of at least five years. Retirement Visa. Proof you have the required financial means to sustain yourself in Cyprus, Medical certificate, stating you are negative for Tuberculosis, Hepatitis B and C, HIV/AIDS and syphilis, issued within the past 4 months. Cyprus offers probably the best conditions in the European Union for this. On corporate taxation, Cyprus has one of the lowest tax rates in the European Union. Residence permit for Cyprus. At least €200,000 of the purchase cost must be settled, A secure and steady annual income transferred on a regular basis from abroad to a bank operating in the country. The Permanent Residency Card for non-EU family members is valid for 5 years and can be extended. During 2017, Cyprus granted residence permits to 18,291 non-EU citizens (also referred to as third country nationals) from: India – 4,710 (24.8%) As a foreign national with no blood links to Cyprus, you become eligible to apply for Cypriot citizenship once you have lived in Cyprus for at least seven out of ten years, and: Cyprus Temporary Residence Permit Requirements. Foreign students who come to Cyprus on a Study Visa have to register their stay and get a temporary residence permit upon arrival. VISA/TEMPORARY RESIDENCE PERMIT REQULATIONS FOR NON-EU STUDENTS . Arguably the best fast track residence program in Europe that permits foreigners to acquire an Immigration Permit through real estate investment. Cyprus Resident and Immigration Permits are granted according to certain provisions and criteria. EU nationals: right of residency I want to move to the UK/EU. different names may be used for one concept. You must have a work contract that’s either open-duration or for a minimum of 18 months. If you have been in Cyprus for less than 5 years you should apply for an MEU1 (temporary residency permit). Permanent residency by investment is granted to people with sufficient income. They can be renewed upon expiry. VISA/TEMPORARY RESIDENCE PERMIT REQULATIONS FOR NON-EU STUDENTS . Thankfully Cyprus has a number of schemes designed to cater to foreign nationals looking to reside and work in the country. Non-EU nationals may have the right to work in an EU country or the right to be treated equally with EU nationals as regards conditions of work. The long-term residence permit of the European Union in Cyprus Non-EU citizens can obtain a long-term residence permit if they have lived in Cyprus for five uninterrupted years. EU/EEA Nationals: Under the EU principles of freedom of movement, EU/EEA Nationals are free to work in Cyprus without a work / residence permit. The investment criteria come into play only when you wish to employee non EU personnel for your Cypriot company. A copy of your passport’s relevant pages: personal information, expiry/issuance date, previous visas. These rights depend on their nationality or their status and are determined by different legal instruments Residence permits for Cyprus [M61] - Forms for General Employment residence permit [M61] - Forms for Domestic Worker's Residence entry and working permit [M61] - Application for the renewal of temporary resident's permit; Forms for residence permit of third country national married with Cypriot Cyprus has issued the second highest number of first residence permits per 1000 of population at 26%, whilst Greece sits below the EU 7% average at under 5%, according to the latest figures from Eurostat. When you apply, the Cypriot immigration authorities will take your fingerprints and picture (your biometrics). Temporary Residence Permit: For applying for this type of residence permit the applicant shall need to have an account in the Cyprus bank and purchase-sale contract of real estate in the Republic. The year-over-year increase in the total number of first residence permits was mainly driven by … A non-EU resident needs to get an Immigration Permit to stay in Cyprus permanently. Non-EU nationals have the option of staying in Cyprus, as visitors, for over 3 months period provided that they have successfully applied for such permit at the Civil Registry and Migration Department of Cyprus. [M61] - Forms for Residence and Employment Permit; Application for Cypriots who wish to repatriate and find a job in Cyprus [M61] - Application for the renewal of temporary resident's permit [M67] - Application for Immigration Permit [Μ71] - Application for the grant of citizenship of the Republic of Cyprus Applicants must have in place an Employment Contract with a Cyprus registered international company, providing for an annual salary of over €20,504. Cyprus Permanent Residency. our lawyer arranges the permanent residency permit, for non EU residents. Close to their expiry, applications for renewal must be prepared and submitted to the Civil Registry and Migration Department. Purchase a Cyprus property worth over €300,000 +V.A.T. Categories not eligible to apply for this permit include students, persons residing in Cyprus for vocational training and recognised refugees or asylum seekers. Note that Denmark, Ireland and the United Kingdom are not part of the EU long-term residency program. (In case self-isolation is required, the preparation of the documents can be done after the quarantine is over) 1. The incredible diversity and endless opportunities have attracted people for centuries. In 2019, about 3.0 million first residence permits were issued in the EU to non-EU citizens. The Cyprus residence permit is what allows foreigners to legally live in Cyprus for longer than three months. (5%) Create a long-term deposit in a Cypriot bank of €30,000 which will be pledged for at least a five year period. This need means there are … You must apply for a Cyprus Temporary Residence Permit within seven days of arriving in Cyprus at: If you are applying for a Cyprus Permanent Residence Permit or an Immgration Permit, you must apply at a central office of the Civil Registry and Migration Department. According to Regulation 6(2) of the Aliens and Immigration Regulations, as amended, non-EU nationals are entitled to a Category F Immigration Permit (Permanent Residence Permit) provided that the following criteria are fulfilled: Persons who have fully and freely at their disposal a secure and regular annual income, which is high enough to provide a decent living in Cyprus without having to engage in any business, trade or profession. In fact, for permanent residence in Cyprus it is not necessary to obtain a permanent residence permit. If the Cyprus registered international company shall employ a non-EU national for the first time, it must submit an application to become eligible to employ non-EU nationals. You should apply at the same location in which you received your original residence permit. Application for issue of Registration certificate of Union citizen and his/her family members also EU citizens - MEU 1A ; Application for issue of Residence card for non-EU citizens family members of Union citizen - MEU 2A Permanent Residency for EU citizens. According to the law, a non-resident of Cyprus, who owns property in Cyprus has the right for a residence permit. The income should derive from sources other than employment in Cyprus, Funds transferred from abroad and deposited in a Bank operating in Cyprus in a 3-year Fixed Deposit Account. The most popular of these is the Cypriot Residence Permit for Non-EU Citizens. 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