"Today, we delve into the realm of Cyprus Permanent Residency, exploring the avenues and requirements that pave the way for a lasting legal status on this Mediterranean island.
Cyprus permanent residency after graduation
The Cyprus permanent residency permit extends its coverage to dependents, including the investor's spouse and children up to 18 years old. For children aged 18 to 25, eligibility criteria include being unmarried, financially reliant on their parents, and, if studying abroad, having a minimum of 6 months of studies left at the time of application. An additional annual income of €10,000 for each dependent must be provided by the investor. Should these children wish to study in Cyprus, they need to apply for a temporary residence permit as students. Upon completing their studies, regardless of age, they can apply for permanent residency, with the aforementioned additional annual income requirement.
Cyprus permanent residency by investment
The process of acquiring Cyprus permanent residency typically takes a minimum of three months. Eligible applicants for the state permanent residence program must meet specific criteria, including being over 18 years old, having a legal income of at least €50,000 per year, maintaining a clean criminal record, possessing an impeccable personal and business reputation, purchasing or renting residential real estate, and holding a health certificate and insurance.
Spouses and dependent children can apply for permanent residence alongside the main applicant. For children over 18, they must be unmarried and financially dependent on the investor. The minimum investment requirement, set at €300,000, is independent of the number of family members included in the application. However, the investor needs to demonstrate an annual income of €15,000 for a spouse and €10,000 for each child.
Importantly, the investor and their family are not required to reside in Cyprus to maintain permanent residency; visiting the country once every two years is sufficient. Jonathan, a 65-year-old participant in the program, successfully obtained permanent residence in Cyprus, benefiting from the program's cost-effective and streamlined process.
Four investment options, each with a minimum investment of €300,000, are available under the program: purchasing new residential property, acquiring commercial property (with additional VAT requirements), investing in shares of Cypriot companies, or investing in stocks of local companies or investment funds. Real estate investment is particularly popular, with Nicosia, Limassol, Paphos, and Larnaca being the preferred cities.
Spouses and dependent children can apply for permanent residence alongside the main applicant. For children over 18, they must be unmarried and financially dependent on the investor. The minimum investment requirement, set at €300,000, is independent of the number of family members included in the application. However, the investor needs to demonstrate an annual income of €15,000 for a spouse and €10,000 for each child.
Importantly, the investor and their family are not required to reside in Cyprus to maintain permanent residency; visiting the country once every two years is sufficient. Jonathan, a 65-year-old participant in the program, successfully obtained permanent residence in Cyprus, benefiting from the program's cost-effective and streamlined process.
Four investment options, each with a minimum investment of €300,000, are available under the program: purchasing new residential property, acquiring commercial property (with additional VAT requirements), investing in shares of Cypriot companies, or investing in stocks of local companies or investment funds. Real estate investment is particularly popular, with Nicosia, Limassol, Paphos, and Larnaca being the preferred cities.
Permanent residency in Cyprus: validity
While permanent residency remains valid for the entirety of one's life, the associated residence card necessitates renewal every five years.
Is it possible to lose permanent residence in Cyprus?
The entitlement to permanent residence may be forfeited if an individual resides outside the country continuously for a period exceeding two years.
How can I get permanent residency in North Cyprus?
A Permanent Residence Permit grants individuals the right to permanently reside in the Turkish Republic of Northern Cyprus (TRNC), allowing them unrestricted entry and exit from the country. However, the continuation of Permanent Residency is contingent upon consistently meeting the criteria outlined in the Residency Law. Failure to meet these requirements may result in the revocation of residency status.
Eligibility for Permanent Residency extends to Turks and other foreigners, including stateless citizens, aged 18 and above, along with their spouses and children under 18, who have maintained continuous residence on the island for a minimum of 6 years. Periods outside the island lasting less than 40 days do not count as interruptions.
Applicants must possess good character and behavior, maintain good health, and either be employed in the TRNC with a salary sufficient to support themselves and their dependents or demonstrate financial independence.
A select group of foreigners may also be considered for citizenship, including those contributing significantly in industrial, trade, tourism, social, economic, or scientific fields, as well as individuals providing exceptional service in technical, political, or cultural domains. Additionally, spouses and children of those involved in the 1974 Peace Campaign and Turkish citizens serving in the TRNC after August 1, 1958, may be eligible for citizenship.
Permanent Residency Permits are issued by the Temporary Residency Permits & Work Permits Department (Ikamet Ofisi) within the Interior Ministry (İçişleri Bakanlıǧı).
Eligibility for Permanent Residency extends to Turks and other foreigners, including stateless citizens, aged 18 and above, along with their spouses and children under 18, who have maintained continuous residence on the island for a minimum of 6 years. Periods outside the island lasting less than 40 days do not count as interruptions.
Applicants must possess good character and behavior, maintain good health, and either be employed in the TRNC with a salary sufficient to support themselves and their dependents or demonstrate financial independence.
A select group of foreigners may also be considered for citizenship, including those contributing significantly in industrial, trade, tourism, social, economic, or scientific fields, as well as individuals providing exceptional service in technical, political, or cultural domains. Additionally, spouses and children of those involved in the 1974 Peace Campaign and Turkish citizens serving in the TRNC after August 1, 1958, may be eligible for citizenship.
Permanent Residency Permits are issued by the Temporary Residency Permits & Work Permits Department (Ikamet Ofisi) within the Interior Ministry (İçişleri Bakanlıǧı).
Permanent residency in Cyprus and North Cyprus: cost and processing time
Additional fees starting from EUR 550. Renowned for its exceptional efficiency, this program boasts one of the world's quickest processing times—applicants typically secure their Residence Permits (RPs) within a swift 2-month timeframe.
