Fast Track Cyprus Permanent Residence
The F 6.2 (Fast Track Cyprus Permanent Residence) immigration permit concerns Non-European citizens who intend on investing in Cyprus and the entire procedure is completed within 2-3 months.The specific permit grants candidates the right to permanently reside in Cyprus.
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Further, although the individual is revoked from the right to work in Cyprus, they are entitled to be owner of a company in Cyprus and collect their share of profits/dividends.
It is significant to state that the Permanent Residence Permit is invalidated only on the occasion the applicant has been granted a Residence Permit in another country excluding their home country and when they have not visited Cyprus for a period of two years.
The permit requirements are as follows:
- The applicant cannot engage in any form of business within the Republic of Cyprus
- The applicant must submit the M.67 form to the Civil Registry and Migration Department
- The applicant possesses a secure annual revenue/income of at least 30.000 Euros plus 5.000 Euros for each dependant. The annual income must be transferred from abroad and come from legal activity, such as shares, pensions or permanent deposits.
- the Applicant and/or his spouse or their Cyprus Company must purchase a new real estate property in Cyprus
- The price of the property must amount to at least 300.000 Euros and above (excluding VAT)
- Official documents from a Cyprus Bank proving the amount of at least 30,000 Euros have been deposited
- The Contract of Sale or Title of Ownership should be submitted to the Land Registry Department in Cyprus
- The applicant must submit a Criminal Record Certificate
Applicants have the option to purchase:
- Two Houses or Two Flats
- A House or Flat and a Shop
- A House or Flat and an Office
The Minister of Interior and the Civil Registry and Migration Department review and approve applications.