- A little about the country
- Grounds for obtaining a residence permit
- Legal ways to move to Cyprus for permanent residence
- Business plans
- Northern Cyprus and minimum formalities
This piece of land in the eastern Mediterranean is called the island of Aphrodite. Indeed, Cyprus is not only very beautiful, but also very attractive in terms of climatic conditions, which makes it interesting for potential settlers. There are a lot of immigrants on the island, and according to statistics, more than 50 thousand of its inhabitants are citizens of Russia. Immigration specialists assure that in order to answer the question of how to move to Cyprus, it is enough to obtain a passport and entrust your fate to professionals from numerous legal agencies located right on the island.
A little about the country
In addition to the magnificent Mediterranean climate, the island of Aphrodite offers foreigners ample opportunities for running their own business, work or education. The tax legislation of the country allows its residents to earn decent money, and the constantly growing indicators of the Cypriot economy guarantee the implementation of social programs and the provision of various benefits to all categories of low-income citizens.
Grounds for obtaining a residence permit
In order to obtain a residence permit in Cyprus, it is enough to become the owner of real estate in the country. You can register a residence permit in stages:
First of all, a foreigner is required to obtain a category D visa, which gives the right to apply not only to enter Cyprus, but also to obtain a residence permit if there are grounds for that.
A temporary residence permit allows you to reside on the Greek side of the island for 4 years. In addition to documents on the availability of real estate, you will have to provide the authorities with an extract from the bank account confirming that the income of a family of two is at least 15,000 euros annually. After five years of residence in the country on the basis of a temporary residence permit, the applicant is eligible to apply for permanent resident status. In addition to the income statement, the applicant will need health insurance and title deeds.
An undeniable advantage over other job seekers is given by a solid investment in real estate. If the amount spent on the purchase of square meters exceeds 300 thousand euros, you can get a residence permit as soon as possible.
Legal ways to move to Cyprus for permanent residence
In order to apply for a residence permit in the Greek part of the island, it is not necessary to purchase a villa or apartment. A temporary residence permit, referred to here as Pink Slip, is also issued to other categories of foreign citizens:
Students taking educational programs at local higher education institutions Parents and guardians who accompany the student throughout the course of their studies Foreign workers who have an official employment contract with an employer Local business leaders who have foreign citizenship Newlyweds who are married to a citizen or a citizen of the Republic of Cyprus.
Persons with passive stable income, who are able to prove an annual financial income of 30 thousand euros for a family of two, can also apply for a residence permit. This category usually includes wealthy retirees. The only condition for applicants in this category is a ban on working on the island.
The renewal of the residence permit must be done well in advance and the necessary documents must be submitted at least one month before the Pink Slip expires. A prerequisite for maintaining the status of a temporary resident is to stay on the island. It is not recommended to leave it for more than two years - the residence permit in this case will be canceled.
Business plans
On the territory of the Greek part of the island of Cyprus, favorable conditions have been created for doing business by foreigners. The benefits of starting your own business are quite obvious here: knowledge of a foreign language is not necessary, the opportunity for immigration of all family members of a businessman is present, and taxes and working conditions are very loyal in comparison with other countries in the region.
In order for the Cypriot authorities to allow an applicant to start his own business, he must prove that he has sufficient personal capital acquired through legal means. The size of the bank account required to open a business is determined by local authorities and depends on the type of activity and region, but the authorized capital of the newly created company must be at least $ 100 thousand.
In order to move to live in Cyprus as a founder of the company, in addition to finance, you will have to submit documents on qualifications or education, proof of ownership of real estate or its lease, health insurance and the results of a medical examination and a certificate of no criminal record.
Legal residence in Cyprus for the purpose of running and developing a business for five years gives a foreigner the right to obtain a permanent residence permit, and two years later - Cypriot citizenship.
Northern Cyprus and minimum formalities
The northern part of the island of Cyprus provides potential immigrants with particularly loyal conditions for obtaining a residence permit. Russian citizens have the right to come here if they have a valid passport. A visa to the Turkish Republic of Northern Cyprus is not required for a resident of the Russian Federation. Even as a tourist, you are eligible to apply for a temporary residence permit. Usually, the issue is considered within a month.
To obtain a permanent residence permit, a foreigner will have to live in northern Cyprus for 10 years with a temporary permit and at the same time comply with all migration and internal laws of the country.
Buying real estate in the northern part of the island of Aphrodite provides the right to obtain temporary resident status automatically. After 6 years, the residence permit applicant receives all the rights of a permanent resident.
