Velment

“The true value of a sound investment is immeasurable.”

– Velment Team

Program Overview: Cyprus Permanent Residency Category F

Cyprus is a member of both the European Union and the Eurozone. Holding a Cypriot Permanent Residence Permit is a significant advantage when applying for a visa in the Schengen Zone.

The program requires an individual to demonstrate secure and adequate income from abroad and, although not strictly required, it is highly recommended to purchase a property in Cyprus to increase the chances of securing the permit.

A Permanent Residency Permit is valid indefinitely, provided the individual visits Cyprus at least once every two years and continues to meet the necessary conditions for maintaining their status.

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Invest

An investment in real estate is not required, but purchasing a property is highly recommended for Category F applicants.

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Ease of Travel

Individuals with Permanent Residency status in Cyprus have a great advantage when applying for a Schengen Zone visa.

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Processing Time

Category F applications are carefully reviewed, with successful applicants typically receiving approval within a reasonable timeframe.

Key Benefits: Permanent Residency – Category F

  • Unrestricted entry and the right to stay in Cyprus.
  • A single application covers the investor, spouse, and children under the age of 18.
  • Access to Cyprus’ general healthcare system for the applicant and their family.

Cypriot Permanent Residency Category F Criteria

  • Although an investment in property is not strictly required, purchasing a home is highly recommended to secure the permit. There is no fixed investment minimum, and the applicant can choose to buy a new or resale property. The funds for the purchase do not have to be transferred from abroad.
  • Applicants must demonstrate a minimum annual income of €9,568 for the main applicant, plus an additional €4,613 for each dependent. This income must be derived from abroad, such as salaries, pensions, dividends, or rental income.
  • Applicants are required to have minimum bank deposits of €15,000 to €20,000 in a Cyprus bank account, which can be used after the application is approved.

Other Conditions

  • Holders of the Category F visa are not permitted to work or be employed in Cyprus.
  • Children under the age of 18 can be included in the main application as dependents, but their permanent residence permit will expire automatically once they turn 18.
  • Applicants are required to visit Cyprus at least once every two years, with no need for continuous residence in the country.

Step-by-Step Application Procedure

Qualifying Investment

Although an investment in property is not strictly required for this program, purchasing a home is highly recommended to increase the chances of securing permanent residence.

Apply for Permanent Residence in Cyprus

Applications must be submitted to the Civil Registry and Migration Department, with successful applicants receiving their approval after the application is thoroughly reviewed.

Visit Cyprus

All applicants must visit Cyprus to have their biometrics recorded.

About Cyprus

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Geography

The Republic of Cyprus is an island nation located at the crossroads of 3 continents: Europe, Asia and Africa. Its territory comprises the entirety of the Mediterranean’s third-largest island and some smaller islets, with a total area of 9,251 km².

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Population and Language

Cyprus has a population of 875,889. Although English is widely spoken by 90% of the population, the official languages are Greek and Turkish.

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Tourism

Cyprus is a very popular tourist destination with around 4 million tourists visiting annually – over 4 times its resident population.

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Education

Primary and secondary education is compulsory for Cypriot pupils until they reach the age of 15. However, almost all Cypriots proceed with higher education either in one of numerous university campuses on the island, or the United Kingdom, with a sizeable university student diaspora who return to the island after their studies.

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Health Care

The island has recently launched its own General Health System, a full-coverage, universal healthcare insurance programme that strives to provide all residents with affordable medical care.

Cyprus Factsheet

  • Continent: Europe
  • Population: 875,899
  • Government: Unitary presidential constitutional republic
  • Capital: Nicosia
  • Languages: Greek, Turkish
  • Currency: Euro (€)
  • Total area: 9,251 km²
  • Time zone: Eastern European (UTC+02:00)

Eligible Properties in Cyprus

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Napa Gem A 201 in Ayia Napa

Famagusta, Cyprus
€1050000
Property Type Bedroom Area m2 Price
Apartment 3 166.14 €1050000
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City Napa Residences Villa 1 in Ayia Napa

Famagusta, Cyprus
€1250000
Property Type Bedroom Area m2 Price
Villa 4 186 €1250000 + VAT
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FAQ

Can you obtain Cypriot citizenship through the Cyprus Residency Programme?

Yes, if an applicant successfully receives Permanent Residency status through the Cyprus Residency Programme, they can also become eligible for Cypriot citizenship following 7 years of continued permanent residency on the island.

How quickly can I obtain Cypriot Residency?

The application processing period for Cypriot Permanent Residency status takes between 1-2 months.

How safe is living in Cyprus?

Cyprus is one of the safest countries to live in the world, boasting the lowest crime rate in the European Union. Violent crimes are extremely rare, and locals would often leave their front doors unlocked if leaving their homes for a short while up until very recently.