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Cyprus Permanent Residence A Cyprus Category F Visa is a permanent residence permit (PRP) and enables applicants and their families to live and visit Cyprus for life without immigration formalities. The procedure of obtaining the PRP takes around 3 months. Benefits: The foreign holder and family are assured permanent status in Cyprus forever A second home on a beautiful European island Entire family is eligible including children up to the age of 24 that are enrolled in a school or university and dependent on their parents The right to lower university tuition fees in some European countries The potential to acquire a Cyprus (EU) passport after 7 years Cyprus along with Romania, Bulgaria and Croatia are expected to join the Schengen area soon Requirements: Applicants are required to: Visit Cyprus within the 1st year to provide biometrics for PRP, then every 2 years thereafter Have a minimum overseas annual personal income of €30,000 (combined for applicant and spouse), including €5,000 for each of the applicant’s dependents. The parents of the main applicant and those of his spouse are also able to apply and obtain the Permanent Residence Permit by just showing an extra 8,000 euros each on the main applicant’s income certificate Purchase a residential property in Cyprus. If the purchase cost is over €300,000 then the Cyprus Authorities expedite PRP processing time to 3 months (otherwise 6-12 months). There must be proof of down-payment of at least 200.000 Eur excl. VAT Under the fast track process, it is possible to buy two properties: this can be either (i) two houses (or apts), or, (ii) a house (or apt) + a shop up to 100 sqm, or, (iii) a house (or apt) + an office up to 250 sqm Deposit €30,000 for three years in a Cyprus bank account Confirm that they do not intend to be employed in Cyprus. It is to be noted that the applicant and/or his spouse may be a shareholder(s) in a Company registered in Cyprus and the income from the dividends of such a company in Cyprus are not deemed an impediment for the purpose of obtaining an immigration permit © 2021 MeritServus Ltd | Made by Orasimu Privacy Policy Cookie policy Privacy Statement (EU) Disclaimer