RESIDENCY

The Category F Permanent Residency Program in Cyprus is designed for individuals who are financially self-sufficient and wish to reside in Cyprus without needing to engage in work or business activities. This program is ideal for retirees, people with passive income, or those who do not need to work in Cyprus but want to enjoy the benefits of living in an EU country.

1. Property Ownership:
 

• Applicants must purchase a residential property in Cyprus with a minimum value of €170,000 (excluding VAT).
• The property should be for personal use and not for commercial purposes.
• The applicant may also be required to provide proof of ownership (either through purchase or lease) and residence in Cyprus.

2. Income Requirement:
 

• Applicants must show that they have sufficient income to support themselves and their dependents.
• Minimum annual income of €30,000 for the main applicant, plus €5,000 for a spouse, €8,000 for each dependent child, and €5,000 for any dependent parents or parents-in-law.
• Acceptable sources of income include pensions, rental income, savings, and investment returns.
• Applicants should not rely on employment or business activity in Cyprus to fulfill their income requirements.

3. Health Insurance:
 

• The applicant must have private health insurance or be enrolled in Cyprus’ national health insurance system to cover medical expenses.

4. Criminal Background Check:
 

• Applicants must provide proof of a clean criminal record from their country of origin or country of residence for the last five years.

5. Proof of Financial Independence:
 

• The applicant needs to provide documentation proving their ability to support themselves financially without relying on state assistance. This can include bank statements, investment portfolios, or income tax returns.

• The application process for Category F typically involves providing detailed financial documentation and undergoing background checks. Applicants must submit a variety of supporting documents such as income statements, proof of assets, property documents, and a clean criminal record.
• The process can take 6 to 12 months depending on the complexity of the applicant’s financial situation and the review process by the Cypriot authorities.

• EU Residency: As Cyprus is an EU member state, Category F residency grants individuals the right to reside in Cyprus and travel freely within the EU.
• No Work Requirement: There is no obligation to work in Cyprus, making it ideal for retirees or individuals with passive income.
• Family Inclusion: The program allows the applicant’s spouse, children (under 18 or financially dependent), and parents (under certain conditions) to join the applicant as dependents.
• Favorable Tax Regime: Cyprus has one of the most competitive tax systems in Europe, with low income tax rates, no inheritance tax, and attractive tax benefits for foreign residents.
• No Residency Obligation: Applicants are not required to live in Cyprus for a certain number of days each year but must maintain their financial self-sufficiency and show intent to reside in Cyprus.

The Fast-Track Permanent Residency Program is designed for individuals who are willing to invest in Cyprus, primarily through real estate. It is aimed at attracting foreign investment into the country and provides a quicker route to permanent residency compared to the standard program. This option is ideal for individuals or families who wish to relocate to Cyprus quickly, provided they meet the investment criteria.

1. Property Purchase:
 

• Applicants must purchase new residential property in Cyprus with a minimum value of €300,000 (excluding VAT).
• The property must be new (not resold), and it should be purchased directly from the developer.
• The applicant must also ensure that the property is not already owned by another person.

2. Financial Requirement:
 

• The applicant must prove a stable income from outside Cyprus to support themselves and their family. This income must be sufficient to meet the living costs in Cyprus.
• The minimum annual income required is €30,000 for the main applicant, with additional amounts for dependents: 
  • €5,000 for the spouse.
  • €8,000 for each child under 18 (or dependent children over 18 if they are financially dependent).
• Income sources include pensions, savings, business income, or other investments.

3. Investment Requirements:
 

• The applicant must purchase the residential property within Cyprus, and the minimum value of the property must be €300,000 (excluding VAT).
• The investment must be in new real estate (not previously owned), and applicants are encouraged to maintain this investment.
• Additional investments in Cypriot businesses or financial products may also be considered.

4. Health Insurance:
 

• The applicant must have private health insurance to cover healthcare costs, as Cyprus requires proof of health coverage for all residents.

5. Clean Criminal Record:
 

• As with Category F, the applicant must provide a criminal record check from their country of origin or country of residence for the last five years.

• The Fast-Track Program is designed to be processed much quicker than other residency options, typically within 2 to 3 months.
• The process is relatively streamlined compared to other programs, focusing mainly on the applicant’s investment in property and meeting the financial requirements.

• Quick Processing: The Fast-Track program is ideal for those looking for a quick residency approval. Applicants usually receive approval in 2 to 3 months.
• Family Inclusion: The program allows the inclusion of spouse, children, and sometimes dependent parents as long as the financial and property requirements are met.
• EU Residency: Like Category F, this program provides the right to reside in Cyprus and travel freely within the EU. It also offers visa-free travel to most Schengen Area countries.
• No Work Requirement: Similar to Category F, applicants are not obligated to work in Cyprus. The residency is primarily based on investment in property.
• No Residency Obligation: Applicants are not required to reside in Cyprus full-time but must maintain the investment in Cyprus.

• Property Requirement: Minimum €170,000 (excluding VAT) for personal use / Minimum €300,000 (excluding VAT) for new residential property

• Income Requirement: Minimum €30,000 annually for the main applicant / Minimum €30,000 annually for the main applicant, plus additional amounts for dependents

• Investment Type: No direct investment required beyond property purchase / Focus on investment in real estate, may include additional investments in Cyprus

• Processing Time: 6 to 12 months / 2 to 3 months

• Residency Obligation: No fixed residency requirement, but must show intent to reside long-term / No strict residency requirement, but must maintain property and investment

• Eligibility: Ideal for financially independent individuals (retirees, pensioners, those with passive income) / Designed for individuals willing to make a substantial investment in Cyprus’ economy

• Family Inclusion: Includes spouse, children, and possibly dependent parents / Includes spouse, children, and possibly dependent parents

• Category F is ideal for financially independent individuals looking for long-term residency in Cyprus without engaging in work. It requires proof of €170,000 property ownership and sufficient passive income, with no strict residency obligations.

• The Fast-Track Program is for individuals willing to make a €300,000 property investment, providing a quicker and more streamlined route to permanent residency. It is perfect for those seeking faster approval while benefiting from Cyprus' attractive tax and lifestyle advantages.

Both programs offer the opportunity to live in Cyprus, enjoy its Mediterranean lifestyle, and access the benefits of EU residency. The choice between these programs depends largely on whether the applicant prioritizes a faster process with an investment focus or prefers a more flexible, income-based approach.