There are three types of resident permits under the purchase or lease of property in Cyprus. The first is the permanent residency application under regulation 6(2), when the client purchases a property for at least 300,000 euros (plus VAT), the property must be new and the client has to pay at least the amount of 200,000 to the seller/developer. This procedure is fast and the resident permit can be acquired within two months. The second is permanent residency under the Category F procedure, when the client can purchase any property without limitations in price or condition. The procedure under this category is long. The permit can be acquired within one year and three months. The third temporary residency is with a lease of property and you can apply for temporary residence, which you will need to renew every year. After the submission of the application our immigration department, responses are within three months. In all three types above, it is very important to have declared, stable income from abroad.
