As a leading law firm in Cyprus, Papantoniou & Papantoniou LLC provides expert assistance to non-EU citizens navigating the complexities of obtaining permanent residency on the island. Cyprus offers several pathways to residency, each providing unique benefits for individuals and families seeking a secure, fulfilling lifestyle in Cyprus.

Benefits of Permanent Residency in Cyprus

The benefits of Cyprus residency are numerous and make the island an attractive option for international families and investors:

• Lifetime Validity: Permanent residency has no expiry and does not require renewal.
• Family Inclusion: The residency permit can extend to family members.
• Path to Citizenship: Residency holders are eligible to apply for Cypriot citizenship through naturalization.
• Healthcare Access: Full access to the national healthcare system, GESY.
• Visa-Free European Travel: Facilitates ease of travel within the EU.
• Efficient Processing: Residency approval is possible within two months under the fast-track route.
• No Entry Restrictions: Permit holders are exempt from certain immigration controls upon entry.
• Tax Residency: Eligibility for Cypriot tax residency under certain conditions.

Our team at Papantoniou & Papantoniou LLC is dedicated to helping clients understand these benefits and meet the requirements for permanent residency.

Routes to Permanent Residency

1. Residency by Investment

Papantoniou & Papantoniou LLC specializes in assisting clients with investment-based residency applications. We guide clients through two main routes:

(a) Category 6.2 – Fast Track Residency

• Processing Time: Residency can be granted in as little as two months.

• Investment Options:

  • Real Estate: Purchase of new residential property in Cyprus worth at least €300,000.
  • Business: Investment of €300,000 in a Cyprus-based company conducting commercial activities.
  • Cypriot Funds: Investment of €300,000 in units of regulated investment funds (e.g., AIF, AIFLNP, RAIF).

• Additional Requirements:

  • Secure annual income of €50,000 or more from abroad.
  • Clean criminal record.
  • No employment within Cyprus, except as a company director of an invested business.

(b) Category F – Standard Track Residency

• Processing Time: This option generally takes up to one year.
• Criteria:
  • Annual income requirement of €10,000 for the main applicant and €5,000 per dependent.
  • Investment in Cypriot property is recommended, with a reduced amount of €100,000.
  • Bank deposit of €15,000–€20,000 in Cyprus.

Our team is here to guide clients through each step of their investment and application process to achieve the best possible outcome.

2. Residency by Years of Stay

Papantoniou & Papantoniou LLC provides guidance to non-EU nationals who may qualify for permanent residency after maintaining legal residence in Cyprus for five consecutive years, holding a valid temporary residence permit during this period.

3. Residency Through Marriage to a Cypriot Citizen

We assist clients married to Cypriot citizens in applying for permanent residency, which also extends to minor children from previous marriages. Papantoniou & Papantoniou LLC simplifies the process, ensuring eligibility and compliance with Cypriot immigration requirements.

Important Considerations for Residency Holders

Our firm advises clients on important residency guidelines:

• Work Restrictions: Non-EU residents with “pink slip” status cannot work in Cyprus, except through dividend income as shareholders in a Cypriot company.
• Stay Requirement: Permanent residents must visit Cyprus at least once every two years to maintain their residency status.

Papantoniou & Papantoniou LLC is committed to ensuring our clients maintain their residency status and are fully informed of these requirements.

Legal Disclaimer: The information provided in this guideline is for informational purposes only and does not constitute legal advice. While every effort has been made to ensure the accuracy of the content, it should not be relied upon as a substitute for professional legal advice. For guidance tailored to your specific situation, please consult our law firm directly. Papantoniou & Papantoniou LLC accepts no responsibility for any actions taken based on this information without a formal consultation.