FAQs
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We have compiled answers to the most frequently asked questions on key topics for our clients.
Frequently Asked Questions
- Residence Permits & Immigration
На Кипре предусмотрено несколько категорий разрешений на проживание:
Cyprus offers several categories of residence permits:
Cyprus offers several categories of residence permits:
- Visitor Residence Permit (“Pink Slip”) For stays of up to 365 days without the right to work.
- Residence Permit for Financially Independent Persons (Autonomous Visitor Permit) For individuals with stable passive income from abroad.
- Work Residence Permit Including permits for employees of Cypriot companies and the Digital Nomad Visa (for remote workers).
- Student Residence Permit For university students (allows up to 20 hours of work per week).
- Permanent Residence Permit (PR) through Investment A lifelong status granted upon purchasing real estate from €300,000.
The key differences lie in income requirements and long-term prospects:
- Income
- Pink Slip: from €2,000/month (active income allowed, e.g. salary).
- Autonomous Visitor Permit: only passive income (dividends, rental income) of at least €9,500 per year.
- Path to citizenship
- Autonomous Visitor Permit leads directly to Permanent Residency after 5 years and citizenship after 7 years.
- Pink Slip is not a direct route to Permanent Residency.
Monthly income:
From €2,000 for the main applicant
+20% for a spouse
+15% per child
Bank deposit:
At least €10,000 in a Cypriot bank for the main applicant
+€5,000 for each family member
Bank guarantee:
From €2,000 for the main applicant
+20% for a spouse
+15% per child
Bank deposit:
At least €10,000 in a Cypriot bank for the main applicant
+€5,000 for each family member
Bank guarantee:
- From €550 per person
Yes, but with limitations.
If you are absent from Cyprus for more than 90 consecutive days, your residence permit (both Pink Slip and Autonomous Permit) will be automatically cancelled.
If you are absent from Cyprus for more than 90 consecutive days, your residence permit (both Pink Slip and Autonomous Permit) will be automatically cancelled.
2. Permanent Residence (PR) through Investment
Value: Minimum €300,000 + VAT
Type: Residential property only, new build from a developer
Type: Residential property only, new build from a developer
- Payment: Funds (at least €200,000) must come strictly from abroad and from personal funds (loans are not allowed)
The status is lifelong and does not require annual renewals.
To maintain it, you only need to visit Cyprus once every two years.
To maintain it, you only need to visit Cyprus once every two years.
3. Property Purchase & Taxes
- Stamp Duty: 0.15% on amounts up to €170,860, 0.2% on any excess
- VAT: Applies to new builds. Standard rate is 19%, with a reduced 5% rate available for a first home.
- Transfer Fee: Payable on resale properties (3%–8%, depending on price)
Reservation
Deposit payment (1–5%) and signing a preliminary agreement.
Legal Due Diligence
Lawyer checks title deed and absence of encumbrances.
Contract
Signing the main contract and registering it with the Land Registry within 60 days.
Approval
Non-EU citizens must obtain approval from the Council of Ministers.
Title Deed
Transfer of ownership (Title Deed) into the buyer’s name.
Deposit payment (1–5%) and signing a preliminary agreement.
Legal Due Diligence
Lawyer checks title deed and absence of encumbrances.
Contract
Signing the main contract and registering it with the Land Registry within 60 days.
Approval
Non-EU citizens must obtain approval from the Council of Ministers.
Title Deed
Transfer of ownership (Title Deed) into the buyer’s name.
4. Business & Taxation
New company
Ensures no hidden debts and a “clean” history, but requires time for registration and bank account opening.
Shelf company
Ensures no hidden debts and a “clean” history, but requires time for registration and bank account opening.
Shelf company
- Allows immediate operations and often already has a VAT number and bank account, but requires thorough due diligence to uncover any hidden liabilities.
The main tax is Capital Gains Tax (CGT) at 20% of the profit.
Available exemptions include:
Available exemptions include:
- The first €17,086 of profit is tax-free.
- Up to €85,430 exemption when selling a primary residence (owned for at least 5 years).
Inheritance tax was abolished in 2000.
Heirs only pay the transfer fee for re-registering the property (3%–8%).
For gifts from parents to children, the transfer fee is 0%.
Heirs only pay the transfer fee for re-registering the property (3%–8%).
For gifts from parents to children, the transfer fee is 0%.
5. Useful Information for Relocation
You must reside in Cyprus for more than 183 days per year.
Alternatively, the “60-day rule” applies if you are not a tax resident of another country and have strong ties to Cyprus (housing, employment).
Alternatively, the “60-day rule” applies if you are not a tax resident of another country and have strong ties to Cyprus (housing, employment).
All applicants (except EU citizens) must provide test results for:
- HIV
- Hepatitis B and C
- Chest X-ray (fluorography)
