With the purchase of properties, worth €2.5 million or more, non-EU citizens are eligible to apply for a Cypriot Passport / Citizenship.
Property prices in Cyprus are lower than the average in Western Europe, making it possible to own a second home for holidays, for retirement purposes or purely for taking advantage of a solid investment opportunity due to the steady value appreciation over time.
Nationals from EU Member States have the right to enter Cyprus by simply showing a valid EU passport or ID Card without having to register upon arrival. If there is an intention to stay for more than three months (and / or take up employment), then they have to:
- Apply within eight (8) days of their arrival for an Alien Registration Certificate (ARC), at the local Immigration Branch of the Police (issued automatically for monitoring purposes) and pay the relevant fee (CY�20).
- Apply for a social insurance number securing employment in Cyprus.
- Apply for a residence permit (the application must be submitted before the expiration of this 3-month period to the Civil Registration and Migration Department, through the local Immigration Branch of the Police). The said residence permit is issued within six months from the date of application and the submission of the required documents by the applicant (please note that a fine is imposed in case of non-compliance).
Necessary documents required when applying for a residence permit
- Valid passport or Identity Card
- The document of Engagement of Employment (forming part of the application) stamped by the Labour Department, showing the code of economic activity of the employer.
The application and renewal fees for the mentioned residence permit for an EU national and to the members of the family, are CY5.
It should be noted that the conclusion of formalities for acquiring a residence permit is not an obstacle to the immediate commencement of employment. Interested applicants can get the application forms from the Civil Registry and Migration Department, Ministry of Interior and from the local Immigration Branch of the Police.
When the residence permit is renewed for the first time, the period of residence permit can be restricted to one year, if the holder continues to be involuntarily unemployed for more than twelve consecutive months. After the expiration of this 1-year period, the permit cannot be renewed, if the holder is still unemployed.
The residence permit for employment purposes is valid for a 5-year period and is not withdrawn solely on grounds that he/she is temporarily incapable of employment as a result of illness or accident or if he/she is unintentionally unemployed as certified by the Department of Labour.
A temporary residence permit for employment purposes, can be limited to the expected period of employment in the following cases:
- For a period of employment exceeding 3 months but not exceeding a year or when a person is working for a person providing services in the Republic.
- For seasonal employment exceeding 3 months, except for the cases where no permit is required (article 10 of N.92(I)/2003).
The members of the family of a European national, have to right to exercise an employed or self-employed activity in the Republic of Cyprus. This permit should be reviewed after a period of two years from the date of issue.
In case nationals of EU Member States wish to pursue a profession that is regulated in Cyprus such as lawyer, medical doctor, accountant, engineer, electrician etc, by legislation determining the specific necessary qualifications and the procedure for acquiring the right to pursue the profession, then the person concerned should contact the competent body responsible to receive and examine applications for the specific profession to acquire the relevant permit, the same way that exists for the Cypriot nationals.