CYPRUS Immigration Permit – Procedure
- We offer inspection visits to assist our clients in this exciting journey. The investors will meet our local experts, visit and compare different areas, and view all the properties they are interested in.
- Before the trip, the investors need to consider the following:
- If a visa is required, the applicant may opt to apply for either a short-stay business visa or Schengen visa (for more details see the ‘application documents’)
- Preparation package: Introduction to Cyprus, the weather, trip schedule, investment option etc. A typical trip schedule can be found in the following slide.
- Each trip is different depending on arrival and departure times, and what the applicant wants to see, but a typical schedule might look like this:
- Inspection of the Properties: view properties or apartments and surroundings
- Investment Plans and Payment: once the property is chosen, the investors will go to the law firm, where the legal experts will help with the investment plan and the application documents. The investors will need to sign any and all necessary documents, pay the attorney fee and the deposit for the properties or partial investment amount.
- Open a Bank Account: Go to a Cypriot bank and open a personal bank account
Grant of Immigration Permit
- The applicant can choose to pay the full amount (including the investment amount and all the related fees regarding immigration) either in Cyprus (one time payment) or pay the deposit in Cyprus and wire transfer the remaining balance from his/her home country within the agreed upon time frame.
- Please note: the investor needs to pay 70% of the total investment amount and subsequently submit evidence of the payment on the agreed purchase price as financial documentation for their application.
- After the inspection visit, the investor can start preparing the application documents.
- The completed application documents (including the full payment of the fees) will be posted to the law firm in Cyprus, where the legal experts will hand in the application to the Ministry of Interior.
- Please note, the investor can submit the applications for all of their family members at the same time.
- The Immigration Permit will be granted within 3 months after the submission of all the completed application documents.
- After the grant of the Immigration Permit, the applicants must be present in Cyprus within one year to record their biometric data (fingerprints, photograph and signature).
- After the collection of the biometric data, the Immigration Permit (card) will be issued within approximately one month.
Activation of Immigration Permit
- After the collection of the biometric data, the main applicant has one year to re-enter Cyprus to activate his/her immigration permit. Once the immigration permit is activated, all the applicants must enter Cyprus every two years to maintain the validity of their immigration permit.
- Example: the main applicant entered Cyprus to activate his/her immigration permit on January 1st, 2017, and left Cyprus on January 2nd, 2017. In this case, all the applicants have to re-enter Cyprus before January 2nd, 2019, to maintain their immigration permit.
- Note: if any applicants do not enter Cyprus as shown above their immigration permit will be cancelled.
Extension of Immigration Permit
- The main applicant must fulfill the following requirements to extend his/her immigration permit:
- Keep the residence (€300,000) under his/her name and the applicant is not allowed to sell or rent said property.
- The applicant must be present in Cyprus no less than one time in every two year period
- Please note: the permanent residence card is valid for 10 years.
Disclaimer: The communication herein is intended to convey general information only and not to provide legal advice or opinions. It should not be construed as, and should not be relied upon for, legal or tax advice in any particular circumstance or fact situation. The facts stated may not reflect the most current legal developments. No action should be taken in reliance on the information herein. Qualified legal practitioners should be contacted for professional legal advice on specific issues.