The permanent residency can be achieved by an application under Regulation 6(2) or under Category F. Both have the same effect but have five main differences.
As a non-EU national, Permanent Residency in Cyprus provides unique advantages. Through investment or the purchase of property, residency could provide better proximity to the EU for business or personal affairs.
The permanent residency can be achieved by an application under Regulation 6(2) or under Category F. Both have the same effect but have five main differences:
Regulation 6 (2)
• An application takes 2 months to be complete
• To apply you must make a fixed deposit of €30,000 for three years
• You must purchase of new property, not one which is for resale
• Children above 18 can apply for P.R. and they get it for life. The children below 18 at the time of application get residency for life, however, need to renew it when they turn 18
• The parents of the applicant can secure the Permanent residency
• An application takes 10-12 months
• Under this category you do not have to make any fixed deposit
• Any property either new or for resale is admissible
• Children under 18 when they become 18 lose their P.R. status and they cannot get it later unless they purchase a property and apply separately themselves
• The parents of the applicant cannot secure permanent residency under this category