Fast-track procedure of obtaining PR permit for foreign nationals – purchasers of Cyprus property – is available in Cyprus.
Benefits of Fast-track Procedure
Obtaining of PR permit by fast-procedure offers a lot of benefits:
Requirements for Applicant
To accomplish obtaining of PR permit by fast-track procedure the applicant will have to:
The maximum period for granting PR permit according to the simplified procedure comprises 2 months.
The status of a permanent resident does not impose any restrictions to the period of your stay in Cyprus. The only exception is that you should visit Cyprus at least once every 2 years.
Relatives of Applicant also receiving PR Permits
Permanent residence permits are granted to the following applicant relatives.
Applicant' spouse. In case they wish, two separate PR permits can be issued for each spouse without the requirement for the dependent spouse to purchase a property or deposit €30,000 into an account. It is understood that a separate PR permit application should be submitted for the dependent spouse.
Dependent minor children of the applicant and his/her spouse. The minor children can be added as dependents in both their parents PR permit applications
Single children from 18-25 years old and financially dependent, who prove to be students for at least six more months from the date of application. They may apply to obtain the “for so long” PR permit for themselves, without the need to invest in additional real estate. In this case the parents will need to prove additional income of at least €5,000 for each dependent child. The PR Permit will still remain valid even after the Permanent Residency holder turns 25 years and even if he/she is no longer single and/or a student and/or financially dependent on his/her parents. However, it is understood that their future spouse and children will not be entitled to obtain the PR permit.
The parents of a couple (of both husband or wife) who applied or they are already in possession of the Residence Permit, are also entitled to acquire the PR permit without investing in additional real estate. The couple must prove additional income of at least €8,000 for each dependent parent. A separate application must be submitted for each dependent parent.
If the Principal Beneficiary of the PR permit passes away, then his/her spouse and dependent children may apply to acquire the Principal’s PR permit without investing in additional real estate.
Any individuals who acquired the PR permit without having to invest personally in real estate or depositing money in a Cypriot bank account (Euro 30,000), will not be entitled to include on their own Permanent Residency Permit their spouses, children or parents.