When a non EU Member buys a residential property for himself and his family of €300.000 and more, his application for Permanent Residence, visa Category F will be examined favourably. There are some various methods to accomplish this but you have to meet some certain preconditions.
Permanent Residence requirements:
Minimum investment
of €300,000
Deposited in a Cyprus bank for 3 years
€30,000
Minimum annual income
+ €5,000 per dependent,
+ €8,000 per parent
or spouse’s parent €30,000
A residence permit can be obtained for:
- Principal applicant
- Spouse
- Children under 18 years old
- Students under 28 years old (subject to full time study programme)
- Parents of the main applicant
Any Russian can obtain a Cyprus residency permit when buying real estate by providing:
- Certificates confirming no criminal record in Russia and the Republic of Cyprus
- Proof of legal source of income (KYC, AML)
- Portfolio of personal documents: passports of a citizen of the Russian Federation, birth and marriage certificates, photographs in the required format
- Documents confirming ownership of real estate in Cyprus valued at least €300,000 (sales contract or receipt of the agreed amount)
- Valid Schengen visa
- Completed applications for a residency permit
Additions:
- Validity: Lifetime
- Obligations: Required to visit Cyprus once every two years.
- Refusal rate for a residency permit: 0%
No restrictions on, or requirements for:
- nationality
- actual place of residence
- language examinations
- interviews
- medical checks
Time taken to obtain a residency permit:
about 2 months
Benefits:
- The right to permanently live and do business in Cyprus
- The right of access to education and health systems in Cyprus
- The right to subsequently apply for Cyprus citizenship
- Simple and transparent procedure for obtaining a residency permit
- Possibility of remote registration of residency permit