Documents required for obtaining permanent residence for investment:
- application form MIP1;
- originals and copies of the applicant's and his family's passports;
- proof of permanent address in Cyprus;
- the applicant's biography;
- income declaration exceeding €50,000 per annum;
- proof of investment of at least €300,000;
- a statement confirming that the applicant is not employed in Cyprus;
- certificate of no criminal record and no criminal record for the spouse;
- marriage certificate and birth certificates of children.
Documents must be submitted in person at the offices of the Department of Registration and Migration of Citizens in the Cypriot capital, Nicosia, after making an appointment on the website.
How to obtain Cypriot citizenship?
Despite the fact that the Cypriot government is keen to attract foreign investors to the island, the "golden passport" program was closed in 2020. Now, you can obtain a Cypriot passportthrough "naturalization" after living in Cyprus for more than 7 years. The second way is to marry a Cypriot; you can obtain citizenship after 3 years of official union. Children born in Cyprus also obtain citizenship if at least one of their parents has Cypriot citizenship.
Citizenship by naturalization
Naturalization is the process of living in another country for a long period of time and gradually integrating into society. To obtain Cypriot citizenship, you must live in the country for at least 7 years: the first 5 years on a residence permit and 2 years on a permanent residence permit. After this period, the migrant can apply for citizenship.
Requirements for naturalization in Cyprus:
- Continuous residence in the country for the last 12 months prior to application.
- Legal residence in the country for 7 years.
- A stable source of income.
- Timely payment of taxes and utility bills.
- No criminal record, fines, administrative penalties, or pending legal proceedings.
Moving to Cyprus for retirees
Pensioners from any country have the right to move to Cyprus, obtain a residence permit, and transfer their pension to one of the local banks. The easiest way is through the purchase of real estate. The required documents are: passport, health certificate, and certificate of no criminal record with an apostille. A citizen of Cyprus has the right to bring their parents from any country under the family reunification program.
Life in Cyprus
Features and searching for housing in Cyprus
You can find housing through the local Bazaraki portal or in Facebook groups. In Cyprus, you can bargain on the price, usually getting a discount of 30-50 euros, even from agencies, especially if it is an unpopular property. All you need for a rental agreement is your passport.
There is no gas in the apartments, but there is a stove, for which you can buy gas cylinders and use them for cooking. Electricity comes from solar panels located on the roofs that power the houses. There is no heating, so in winter, homes are heated with air conditioners and heaters, which results in a hefty electricity bill. A gas heater will cost €10-15 per week.
Rental prices for furnished apartments with appliances start at €600 and above. Utilities average €100 to €200 for a two-room apartment, and internet starts at €20 per month. The average price of real estate in the capital is €1,700 per square meter. In the center of a large city, housing prices start at €3,400-5,200 per square meter.