What criteria do I need to meet to qualify for the Cyprus fast-track permanent residence permit?

Answers

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  Chriso Savva

  CHRISO SAVVA LLC

  November 24, 2020

  You must purchase a property the minimum value of which is €300,000 VAT and must at the time of the application pay at least €200,000 plus VAT into the developer’s bank account. You must also present proof of a minimum annual income of at least €30,000 plus €5,000 per each dependent person in your family. Additionally you will need to block the amount of €30,000 in a Cyprus bank account for three years. Finally please note that you will need to provide police criminal records for all adult applicants.

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  Celia Pourgoura

  CA Advocates (Pourgoura & Aspri LLC)

  November 24, 2020

  The procedure of obtaining the fast track residence permit is approximately two to three months, but you will be entitled to stay in Cyprus if you have a visa of 90 days so you will not have to leave and come back. Your visit in Cyprus will be required.

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  Andreas Parparinos

  Parparinos & Hadjipanayis LLC

  November 25, 2020

  Yes, only the CBI program has been suspended. The PRP fast track program is still available for interested parties. Following application, a decision is reached within 3 to 4 months. To be eligible for PRP fast track, a successful applicant must prove ownership of property in Cyprus of certain value and set a fix term deposit of €30,000 amongst others.