20 May 2021

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After Brexit, the process for British citizens considering moving to Cyprus has become more arduous and complex. The process faced by British citizens and their family is currently the same as for other non-EU citizens.

Eventhough, the process is more complex, despite the Brexit impediment, there still remain viable for those who, still want to take the chance and start a new life in Cyprus.

Golden Visa: buying a property over a certain value

Investment in a property located in Cyprus with a value of €300k (plus VAT) or more and sufficient income from abroad will provide you with a residency visa. This is a fast track visa and can be obtained within 2 months.

The requirements for obtaining this kind of visa are:

• Deposit in bank account in Cyprus minimum €30.000 which will be reserved for at least 3 years and this amount should be obtained from sources abroad.
• Prove from the applicant that she/he has secure annual income from abroad of €30.000 plus €5000 for every dependant member of the family and €8000 for every dependant parent of the applicant and/or his/her spouse.
• Applicant's declaration that she/he has no intention to work in Cyprus. Ownership of a Cyprus company and receiving dividends or any other passive income are allowed.
• Possession of a white criminal record and absence of applicants name from the official EU sanctions lists.

Right of permanent residence and work – set up a business in Cyprus.

This type of license concerns owners and employees of international companies:

• Investors working for their own company, under condition that they bring from abroad capital worth €260,000, which will be used for their corporate activities in Cyprus.
• Company can offer permanent employment directors. Their salary should be €3872. Third-country nationals employed in international companies as directors or other key staff are able to exercise their right to family reunification. In this case, third-country nationals who are family members (spouse and minor children) can enter and reside in Cyprus. of the company with specific specialization with salary between €1936 και €3871 and maximum number 10 or giving employment to personnel from third countries for support under the condition that the company has the approval of ministry of labor.

Members of the family. 

• Third-country nationals employed in international companies as directors or middle managers or other key staff are able to exercise their right to family reunification. In this case, third-country nationals who are family members (spouse and minor children) can enter and reside in Cyprus.

Have an Existing Income of Sufficient Value with No Need to Work in Cyprus

Third country nationals can obtain a permanent residence in Cyprus and must prove that they do not need to work. They should have an insured annual income of at least €9568.17, while for each dependent person an additional annual income of €4613.22. This income may come from pensions, share dividends, permanent deposits, rents, etc.

Persons who are granted an Immigration permit are required under the Regulations, if they are abroad, to come to Cyprus for permanent establishment within one year from the date of issue of the Immigration License. Also persons who remain outside the Republic for a period of at least two years, lose the right of permanent residence in Cyprus.

Irish and other EU Passport Holders

Many people in the UK are entitled to an Irish or other EU passport as a result of being born there or indeed if a parent or grandparent was born in another EU country.

While this depends on the rules of the individual EU States, if a British citizen is able to successfully apply for an EU passport, they may apply for residency in Cyprus with all the typical rights to live and work here.

Once that application has been processed, their spouse and children may apply for residency on the basis that their family member is resident in Cyprus.

Have a Family Member in Cyprus, Wish to Reunite

If your spouse or civil partner or either of your parents are Cypriot or are from an EU country living in Cyprus and registered here, and you wish to reunite with them you could also apply for residency as family member of a cypriot or EU citizen who are allowed to have residence in  Cyprus.

We will guide you every step of the way from the initial purchase of property, provide you with advice on the required documents, prepare and submit immigration permit applications and receive the residence permit cards.

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