Important: changing the conditions for obtaining a residence permit in Cyprus

From January 1, 2023, the conditions for obtaining a residence permit in Cyprus have changed.

Previously, in order to obtain a residence permit in Cyprus, it was necessary to confirm your income, provide medical insurance and a long-term lease of real estate.

From January 1, 2023, applicants will also need to provide:

certificate of no criminal record and serious illnesses;
a letter from the Bank of Cyprus for a period of 10 years, guaranteeing the coverage of possible expenses for repatriation;

proof of stable income outside of Cyprus;
bank statements indicating transfers to a local account, which must be at least 2,000 € per month or 24,000 € per year.

At the same time, Cyprus offers the possibility of obtaining permanent residence in Cyprus for investments in real estate from 300 thousand euros. Read more about the terms of the program here.