Immigration to the EU for reliable asset protection and residence in a country with a mild climate
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The residence permit for financially independent persons in Cyprus is regulated by the Aliens and Immigration Law. The status is available to nationals of non-EU countries who live in Cyprus using funds received from abroad and do not engage in employment or entrepreneurial activity on the island. The applicant must prove a stable income from sources outside Cyprus of at least EUR 24,000 per year. In addition, the applicant must purchase or rent accommodation on the island and obtain medical insurance. The residence permit is granted for 12 months with the right to renew.
The right to stay in Cyprus without time restrictions. To maintain resident status, you may remain outside the country for no more than 3 consecutive months.
The applicant is not required to invest in the Cypriot economy. It is sufficient to prove a stable source of funds abroad and rent property in Cyprus.
Cyprus remains one of the most favorable EU jurisdictions for capital owners. A resident with non-domiciled status may be exempt from the Special Defence Contribution on dividends, interest, and rental income for 17 years.
All family members of the principal applicant may obtain residence permit cards. Children gain access to Cypriot and international schools offering education in English.
No language test is required when obtaining or renewing the residence permit — it becomes mandatory only if a foreign national applies for permanent resident status in Cyprus.
A foreign national who has lived in Cyprus for an extended period under a residence permit may obtain permanent residence and subsequently acquire citizenship through naturalization.
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iWorld specialists analyze your profile, assess your income level, review your family composition, and identify risks that may arise during the document submission process.
The lawyers prepare bank statements and a residential lease agreement for you and arrange translation and apostille of the documents. As a result, you receive a dossier that meets all requirements of the competent Cypriot authorities.
On the scheduled date, you personally submit the dossier to the Cyprus Migration Department, provide biometric data, and pay the government fees. During the submission process, iWorld lawyers accompany and advise you.
The Migration Department reviews the application from 2 months and then issues a resident card valid for 1 year. While your documents are being reviewed and you are awaiting the authority’s decision, you may legally reside in Cyprus.
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Learn moreTo participate in the program, the applicant must provide documentary proof of annual income of at least EUR 24,000. Additional funds are required when obtaining residence permits for family members — EUR 4,800 per year for a spouse and EUR 3,600 per year for each child.
If all required documents are available and financial solvency is confirmed, resident status can be obtained within 3 months or more.
Employment with a Cypriot employer, providing services to Cypriot clients, and conducting entrepreneurial activity on the island are not permitted. However, remote cooperation with foreign employers and clients is allowed, as is ownership of shares in a Cypriot company with receipt of dividends and serving as an unpaid director.
Cyprus is a member of the European Union but is not yet part of the Schengen Area, so a Cypriot residence permit does not provide visa-free travel. Travel within Europe is possible only with a Schengen visa.
The law does not establish a minimum number of days per year, but an absence from Cyprus for more than 3 consecutive months results in automatic cancellation of the residence permit. Renewal of resident status also requires proof that you continue to live on the island and receive income from abroad.
No. A 12-month lease agreement covering the entire initial validity period of the residence permit card is sufficient.
No. Residence status and tax residency are determined under different rules. You become a tax resident if you spend more than 183 days in Cyprus during a calendar year.
You must collect all required documents confirming that you continue to qualify as a financially independent person and submit them to the district Aliens and Immigration Unit at your place of residence.
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