The Civil Registry and Migration Department, of the Ministry of Interior of the Republic of Cyprus is the competent authority for granting permanent residence in Cyprus to Third Country nationals.

According to Cyprus Immigration Policy Regulation 8 of the Aliens and Immigration Regulations, Cap.105, dependants of the Immigration Permit Applicant are also considered as permanent residences in Cyprus. Dependants include children under the age of 18 and/or the applicant's wife.

Foreigners may make an application to obtain a permanent residence in Cyprus Permit on the basis of one of the Categories referred to in Regulation 5 of the Aliens and Immigration Regulations.

Categories of persons allowed to apply for a permanent residence in Cyprus:

Category A: Persons who intend to work as self employed in agriculture, cattle breeding, bird breeding or fish culture in the Republic, provided that they have in their possession adequate land or a permit to acquire same, they have fully and freely at their disposal capital of approximately € 430,000 and such an employment should not negatively affect the general economy of the Republic.

Category B: Persons who intend to work as self employed in mining enterprises in the Republic, provided that they have in their possession a relative permit, they have fully and freely at their disposal capital of approximately € 350,000 and such an employment should not negatively affect the general economy of the Republic.

Category C: Persons who intend to work as self employed in a trade or profession in the Republic, provided that they have in their possession a relative permit, they have fully and freely at their disposal capital of approximately € 260,000 and such an employment should not affect negatively the general economy of the Republic.

Category D: Persons who intend to work as self employed in a profession or science in the Republic, provided that they have academic or professional qualifications, for which there is demand in Cyprus. Possession of adequate funds is also necessary.

Category E: Persons who have been offered permanent employment in the Republic, which will not create undue local competition.

Category F: Persons who possess and have fully and freely at their disposal a secured annual income, high enough to give them a decent living in Cyprus, without having to engage in any business, trade or profession. The annual income required should be at least € 9,568,17 for a single applicant and moreover at least € 4613,22 for every dependent person, but the Immigration Control Board may demand additional amounts as necessary.

Most applicants come under this Category, the majority of them being pensioners or retired persons.

A new circular from the Ministry of Interior dated 07/05/2009 establishes a new policy in Cyprus that says that any Third Countries (Countries that don't belong to EU, like China) citizens who purchases property in Cyprus of a value exceeding € 300,000, will qualify for 'favorable treatment' when applying for a Permanent Residence Permit in Cyprus.

The Cyprus Permanent Residence status gives a lot of advantages to holders. Cyprus is a full European Union member and offers the lowest personal and corporate tax rates in the EU together with double tax treaties with many countries including China. Cyprus, having a 40 year business history with China enables Chinese holders of the Cyprus Permanent Residence to open borders through the whole Europe.

Once the Permanent Residence status is obtained, you will be enjoying freedom of movement within the EU with easy procedures.

Acquiring the permanent residence in Cyprus is an easy procedure and our in-house lawyer is ready to help you all the way. Contact us for any further info you might need.