5 ways to get a Cyprus residence permit for relocation

What advantages does a Cyprus residence permit offer?

In 2022, Cyprus took a respectable 22nd place in the ranking of countries with the most favorable environmental conditions. This ranking is compiled annually by representatives of the Yale Center for Environmental Law and Policy. The index is calculated based on information about how countries around the world are combating pollution.

Among the most significant advantages of relocating are:

• status for permanent residence in a European country;
• the ability to obtain a Schengen visa through a simplified procedure;
• Cyprus residents can apply for a US and UK visa (for Russian citizens, this option is currently very limited);
• tax optimization.

In addition, children whose parents hold a residence permit or residency status gain the right to study at public and private educational institutions, both fee-paying and free of charge.

Cyprus is among the countries with one of the easiest adaptation systems for foreigners. The vast majority of the local population knows two languages: Greek and English. And more than 40,000 citizens of the country are Russian speakers.

What documents are needed for residency?

Obtaining a residence permit or residency in Cyprus always requires submitting a specific set of documents. To obtain official status, Russian citizens need to provide:

• an application for a Residence Permit (Residence Permit Application Form);
• a document confirming housing in Cyprus (for example, a rental or ownership agreement);
• a certificate of no criminal record from Russia and from all countries where the applicant has lived for more than 6 months over the last 5 years;
• a medical certificate on the applicant's state of health;
• a copy of the applicant's passport with an English translation;
• documents confirming the availability of funds to live on in Cyprus (for example, bank statements, property rental agreements, or evidence of business income);
• photographs of the applicant.

This list of documents is not exhaustive. Depending on the applicant's family status, the list may be supplemented with certain additional certificates and documents.

Currently, foreign nationals able to confirm annual income exceeding 30,000 euros can apply for permanent residence.

Ways to obtain a Cyprus residence permit

Cyprus Startup Visa

This program was introduced in 2017. Its main goal is to attract talented entrepreneurs capable of launching and growing unique startups in Cyprus.

Program participants get the opportunity to live and conduct business activity in the country for 24 months from the date the relevant visa category is issued.

Relocating to Cyprus through this route is possible provided specific requirements set by the government for entrepreneurs are met. So, the visa applicant must:

• be the sole founder of the project and hold the overwhelming majority of the shares;
• have a thorough command of English or Greek;
• invest at least 20,000 euros in their startup.

Obtaining a Cyprus residence permit through the Cyprus Startup Visa gives foreign nationals the opportunity to live and work in the country in order to build and grow startup projects. This program is in effect until May 31, 2024. Obtaining a visa of this category typically takes 4 months.

Employment

This is the most popular way to obtain official status. Today the Cyprus government sets the following requirements for applicants:

• age: over 18;
• citizenship: the applicant must not be a citizen of the European Union;
• employment: the contract must be with a company with foreign participation.

A separate requirement applies to the amount of the foreign employee's salary: it must be no less than 2,500 euros a month.

How do you get a residence permit in Cyprus through employment? On this point, it's worth noting that the residence permit card in this case is issued for one year, with the possibility of renewal for up to 4 years. This status is closely tied to the foreign national's employment - if the contract with the employer is terminated, the visa is also terminated.

Digital nomad visa

Employees of foreign companies who are able to work remotely can apply for a visa of this category. Their salary must exceed 3,500 euros.

The nomad visa is issued for one year, with the possibility of renewal for another two years. A foreign national working remotely can bring their family to Cyprus (spouse, minor children, and financially dependent parents).

The digital visa is typically processed within 5-7 weeks, making it the fastest way to obtain official status.

Secondary and higher education

There are two grounds for issuing a long-term student visa. The first is enrollment at a local university; the second is enrollment in English or Greek language courses at a school accredited by Cyprus state authorities.

To apply for a student visa, you need to prepare:

• documents confirming enrollment at a university or in courses;
• a motivation letter;
• a birth certificate (submitted with a notarized translation);
• health insurance;
• confirmation of housing in Cyprus (either a rental agreement or confirmation of a place in a dormitory works);
• a completed application form.

All the documents listed above are provided by the student. In turn, the Cyprus university must also send a letter to the Civil Registry and Migration Department confirming the foreign student's enrollment.

Obtaining residency in Cyprus through investment

How do you relocate to Cyprus? The most sought-after way to obtain official status today is by investing in the country's economy.

To participate in the program, you need to invest at least 300,000 euros in purchasing real estate, opening a business, or securities.

Foreign nationals over 18 with no criminal record can act as investors. Investors must confirm the legality of the funds used as investment and must have an official source of income outside the country of at least 30,000 euros a year.

Obtaining residency and citizenship in Cyprus

How do you obtain residency in Cyprus? In this case, naturalization is the most common way of obtaining a passport.

Permanent residence status is granted to a foreign national at least five years after they receive a residence permit. However, for foreigners who travel outside Cyprus frequently, the time needed to obtain residency may be extended by 1-3 years. To apply for citizenship, you need to live in the country continuously under residency status for a further five years. After that, the citizenship application is reviewed over a further two years.

It's important to remember that participating in investment programs gives foreign nationals the opportunity to obtain residency status only. It is not possible to become a citizen of the country through this route. And although the Cyprus citizenship-by-investment program was closed in 2020, the possibility of obtaining citizenship of this European country remains available to those who relocate there.