How to get a residence permit in Cyprus and EU citizenship
The Republic of Cyprus is an island state, which is often considered by residents of Russia as a permanent place to live or to periodically visit. This country has a favorable climate, beautiful nature and a high level of social development. The state is part of the European Union. Legal stay on its territory gives a person the status of a real European.
Benefits of obtaining a residence permit
A residence permit in Cyprus has its own name – Pink Slip. To date, the procedure for obtaining a residence permit in South Cyprus has been simplified as much as possible and does not take much time. Moreover, the amount of investment in real estate is significantly less than when obtaining citizenship of this country. This process provides a person with a number of significant advantages:
the obtained residence permit applies to all family members: spouses and joint minor children;
in the future it will be possible to apply for citizenship (subject to permanent residence in the country for 5 years over the last seven-year period);
the possibility of obtaining a Schengen visa;
living in a society with a well-developed system of education and health;
compliance with all legal rights of property owners.
Methods of obtaining a residence permit
You can obtain a residence permit in South Cyprus in various ways. The most popular methods:
Cyprus property acquisition;
opening your own business;
signing an employment contract with a local company;
studying at a Cypriot university;
registration of marriage with a citizen of the country.
Wealthy people in recent years are increasingly choosing the Golden Visa program. In 2009, a law was passed in the country according to which investors who purchase real estate in the amount of from 300 thousand euros receive a residence permit in Cyprus.
Terms of granting and renewal of the Golden Visa
It should be noted that obtaining this document in Cyprus is noticeably simplified in comparison with other European states. You can get a gold visa in several ways, but in any case, you must fulfill the following series of conditions:
purchase Cyprus property in the amount of 300 thousand euros, while the object must be new and put up for sale for the first time. Within 5 years, the owner has the right to sell the object, but he must buy another at exactly the same price;
make a deposit to a bank account with a local bank in the amount of 50 thousand euros for a period of three years. Money must come from another country;
confirm your annual income, which should be at least 30 thousand euros per applicant;
provide the immigration service with a contract for the purchase of real estate with payment of at least 80% of the total cost of the property;
the applicant should not have a criminal record, and he should not be on the lists of Interpol and Europol.
Fulfillment of these conditions allows you to get a residence permit in the shortest possible time. The process of applying for a golden visa takes much less time compared to the usual Pink Slip. Experts note that most often they get a residence permit for a year on a golden visa, and only then they can apply for permanent residence without problems. A golden visa does not need an extension, it is issued to a person for life.
Golden Visa Rules and Process
Foreigners who have bought a house or apartment in Cyprus for an amount of more than 300 thousand euros have an advantage in submitting documents. The term for consideration of the application is 2-3 months, and the probability of receiving a document is close to 100%. The applicant and all members of his family must collect the following set of documents:
passport with copies of all pages;
if the applicant at the time of filing documents resides in Cyprus, he needs to provide a copy of the current permit for temporary residence in the country;
a certificate from a Cypriot bank confirming a deposit placed by the applicant in the amount of 50 thousand euros;
document confirming annual income;
an agreement on the purchase of an apartment in Cyprus with the seal of the relevant department;
a statement that the property owner does not intend to work in the country;
certificate of marriage and the birth of children;
health insurance policy;
a certificate confirming the absence of a criminal record;
photos, 4 pcs.
Benefits of a Golden Visa
People who received a residence permit under the Golden Visa program receive a number of advantages. Those who bought real estate can immediately apply for permanent residence. Happy holders of a golden visa have virtually no restrictions on staying outside Cyprus. It is enough for them to appear in the country once every two years. The most important thing is to keep track of the amount in the bank account, which should not become less than 50,000 euros. In addition, there is no need for a continuous extension of the document. A golden visa is issued once for a lifetime, and at the same time its validity applies to all family members.
Obtaining EU Citizenship
The Republic of Cyprus is not included in the Schengen zone. However, it is a member of the European Union. His citizenship gives a person the same rights as citizens of other EU countries.