Applicant cannot engage in a direct business in Cyprus and is limited to investing in company shares and receiving dividends, and he/she must secure annual income of at least 30,000 euros deriving from abroad from sources other than employment in Cyprus, including certificates of dividends, certificates of fixed deposits, pension statements, rents or salary advice. Furthermore, the applicant must secure a deposit a minimum capital of 30,000 euros from sources other than employment in Cyprus that must be transferred from an international bank to a local Cypriot bank and it should be pledged for at least a period of three years.
