Cyprus offers a lot of benefits to individuals considering relocating here. Some of the main reasons and benefits for someone to relocate to Cyprus are because of the pleasant climate, the safety, the high-quality education from pre-school to university and the excellent private and public health care offered including the National Healthcare System (GeSY). Furthermore, Cyprus is a multicultural island and offers the possibility to a wide range of individuals wishing to relocate here.
This article gives a brief review and explanation of various visas and permits which can be sought in Cyprus.
TEMPORARY RESIDENCY PERMIT
Visitor Visa
The "Visitor Visa" allows Non-European Union citizens to stay in Cyprus for more than 3 months (90 days). The applicants should apply before their current visa expires.
This residential permit is valid for 1 year and can be renewed on an annual basis. By having this permit, a Non-European Union citizen will be allowed to live in Cyprus as a visitor (without the right to work). The family members, i.e. the spouse and children (up to 18 years old), can also obtain this Visa as the dependents of the main applicant. The whole family applies at the same time; each family member files a separate application form and upon approval receives their temporary residence card.
The requirements for obtaining such a permit are (amongst others):
Nomad Visa
The "Cyprus Digital Nomad Visa" Scheme allows residents from Non-European Union, who can perform their work remotely using telecommunications technology, to live temporarily in Cyprus and work for an employer registered abroad or perform work remotely through technology for companies or for their clients that are located abroad.
Nomad Visa is applicable for those:
Work Permit / Company of foreign interests
The "Work Permit" allows Non-European Union citizens to work for a Cyprus Company of foreign interests. The duration of the permit depends on the duration of the employment contract and can be up to three consecutive years.
Work Permits are applicable for those who (amongst others) fulfil the following criteria:
IMMIGRATION PERMITS
Non-European nationals can also apply for immigration permits if they are qualified for the following list of categories:
Category A: This category applies to Non-European Union citizens who are planning to be self-employed, in agriculture, animal husbandry, poultry farming or fish farming in the Republic of Cyprus, provided that they have under their control adequate land or permission to obtain same, they have fully and freely at their disposal capital of approximately €430,000 (CY£250,000) or a lesser sum as the Immigration Control Committee may regulate, and such employment will not negatively affect the general economy of the Republic.
Category B: This category applies to Non-European Union citizens who plan to be self-employed in mining enterprises in the Republic of Cyprus, provided that they have under their control a relative permit, they have fully and freely at their disposal capital of approximately €350,000 (CY£200,000) and such employment will not negatively affect the general economy of the Republic.
Category C: This category applies to Non-European Union citizens who plan to be self-employed in an occupation or science in the Republic, provided that they are duly qualified to practise their profession or science in the Republic, they are in the possession of sufficient funds or secured income to enable them to give effect to this intention, for which there is a need for additional members of such profession or science in the Republic.
Category D: This category applies to Non-European Union citizens who plan to be self-employed in a profession or science in the Republic of Cyprus, provided that they have academic or professional qualifications, for which there is demand in Cyprus. Please bear in mind that possession of adequate funds is also necessary.
Category E: This category applies to Non-European Union citizens who have been offered permanent employment in the Republic, provided that this employment will not lead to the creation of unjustified competition in the profession they will practise.
Permanent Residence – Regulation 6(2)
Immigration Permit under regulation 6(2) of the Aliens and Immigration Regulations, gives to a Non-EU national, the right to permanently reside in Cyprus provided that they invest at least €300.000, in one of the following categories:
Bearing in mind the above it has to be noted that the applicant should, in addition to the investment, be able to prove that he/she has at their disposal a personal insured annual income of at least €50,000. The annual income is increased by €15,000 for the spouse and €10,000 for each minor child of the applicant and/or his/her spouse. This income can derive from wages for work, pensions, stock dividends, interest on deposits, rents coming from abroad, which will only be proven through his tax return from the country in which he declares a tax resident. In calculating the total income, the income of the applicant's wife may also be taken into account.
The content of this article is valid as at the date of its first publication. It is intended to provide a general guide to the subject matter and does not constitute legal advice. We recommend that you seek professional advice on your specific matter before acting on any information provided. For further information or advice, please contact us at our office in Limassol at tel: +357 25 363685 or via email at limassol@kyprianou.com
