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Permanent Residency Cyprus

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Permanent Residency Cyprus

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Immigrate To Cyprus And Apply For Permanent Residency Normal

Residence Permits In The Republic Of Cyprus

This category also covers some specific statuses that only exist under national legislation — for example, in Poland holders of the Pole’s card are registered in this category . After the application is received by the Department,the applicant submits a clean medical report to the Departmentand if no further examination is required, a residence permit is issued at that time. Therefore, they must make a sworn statement that they are not going to engage in any professional activities in Cyprus during their permanent residence. Please note that any income of the applicants from dividends of a Cyprus company will not be considered a violation of this requirement . In fact, for permanent residence in Cyprus it is not necessary to obtain a permanent residence permit. But a permanent residence permit is more convenient, because temporary residence permit requires staying in Cyprus for most of the year, otherwise the temporary residence permit ceases to be valid.

This permit applies to a non-EU family member of non-EU citizens or non-EU family members of EU citizens who wish to apply for permanent residency in Cyprus. If you intend to visit Cyprus for business or vacation for a period not exceeding 3 months, you are required to apply for a short-stay visa. If you plan on travelling to Cyprus frequently for business or otherwise, you may apply for a 1-year multiple-entry visa but the total stay within that period may not exceed 3 months. Either way one may choose to apply, equal rights are gained and residency is for life. However, the time the applicant must wait until gaining the residency will depend on the size of the investment the applicant will make, provided some other criteria are also met.

Residency By Investment In Cyprus And Other Services

However, during busier times of the year, this can take up to a month. It is our pleasure to serve you with the needed information and assistance during this process. Our inhouse team has all your required documents together and we will send someone with you to the official Departments to guarantee a smooth and easy process.

Aliens may make an application to obtain an Immigration Permit on the basis of one of the Categories referred to in Regulation 5 of the Aliens and Immigration Regulations. An immigration permit will not be granted to anybody unless the Immigration Control Board recommends to the Minister of Interior that such person fulfils the requirements. Citizens of the EU and EEA may enter Cyprus using their valid EU passport or photo ID Card. Dependants of EU citizens who are not themselves EU citizens may require an entry visa. The non-EU spouse or legal partner and family of an EU citizen have the same rights as any EU citizen in Europe.

Requirements For Applicants

Purchase of one or two new residential properties from a developer. By submission of the application the payment of €200,000 is required to be settled and the sale agreement needs to be registered in the Land Registry Department. On 6 March 2020 the FCO announced funding for organisations to provide practical support to UK nationals who may find it harder to complete their residency applications. UK nationals who have regularised their residency will also be able to register with GESY – the Cypriot General Healthcare system and be entitled to lifelong healthcare rights for as long as they remain resident in Cyprus. You can find all the information on how to apply for your residency document on our Living in Cyprus page.

There are also tax benefits to being a resident, since Cypriot tax residents are liable to income tax on their worldwide income, and to their advantage the first €19,500 is tax free. Interest and dividends are liable to “special defence contribution” rather than income tax, but non-domiciled Cypriots are exempt from this. This means that foreigners generally do not have to pay this tax until they have lived here for 17 years. A bank account which clearly shows a balance, even without an income. All British nationals who live in Cyprus should apply for a MEU1 or MEU3 to make sure that they are lawfully resident and that their rights continue to be protected post-Brexit.

If the parents reside in the UK they should be present during the application. A passport or travel document of your country that is recognised by the Republic of Cyprus. Russian nationals may now be issued a three year multiple entry visa, provided that they meet all other pertinent requirements. The law firm Cyprus High Commission has outsourced the collection of visa applications from third country nationals. All applicants must submit their visa applications to the designated offices of VFS Global across the UK. Then SFM deals with procedures for the purchase of the property and getting a permit F.

cyprus resident permit

Resident companies are taxed on their worldwide income at a corporate tax rate of 12.5%. Profits from disposals of shares, bonds, debentures, founders’ shares, and other titles of companies or other legal persons incorporated in Cyprus or abroad and options thereon, are unconditionally exempt from income tax. Cyprus has one of the most attractive onshore tax regimes in the EU, and is considered staying permit turkey a prime location for business relocation. You are not required to renounce your previous nationality to become a citizen of Cyprus. Have sufficient income and/or financial means to live with their family without becoming a burden on the domestic Social Insurance or Welfare Services. Income required per year should be at least €30,000 for a single applicant plus €5,000 for every dependant.

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