Cyprus, the Mediterranean’s third largest island, has a stunning coastline with warm climatic conditions. Since it has an unclaimed property in abundance, it is giving an opportunity to utilize it for the development of various business lines etc. This widens the holder’s professional growth to fetch employment without a work permit. This permit allows a person to travel all the 158 countries and also provides an option to hand over the nationality to their successors. Let’s understand the requirements to gain Cyprus residence permit for non EU nationals.
Temporary Residency and It’s Criteria
Non-EU citizens who want to work and reside in the country should apply their request to the Department of Civil Registry and Migration. The permit’s validity period is 1-2 years. It becomes null if the individual is out of the country for more than 3 consecutive months.
The applicant should carry the Employment Contract given by any International Company registered with Cyprus and also it should have more than 50% of foreign shareholders and the person must not hold any criminal background.
What Are the Required Documents?
- Medical Insurance Certificate
- Bank Guarantee
- Medical Test Reports.
Permanent Residency and It’s Criteria
The non-EU applicant may apply to for the immigration permit in various categories. It is applicable to those who intend to settle permanently over an unrestricted timespan. This permit further allows traveling to the region, eliminating the various immigration entry procedures.
What Are the Application Categories?
There are 5 types of Application Categories and their criteria is explained below.
Category C and It’s Criteria
- The applicant must be self-employed in a local business or profession in the country which doesn’t affect the economy of the issuing country.
- Must hold the required capital.
Category D and It’s Criteria
- Self-employment in the field of science is a must for the applicant. They should also hold an academic as well as professional qualification that is in local demand.
- Must hold the required funds.
Category E and It’s Criteria
- The applicant should carry a permanent employment offer.
Category F and It’s Criteria
- The applicant must hold a steady constant annual revenue, which can support an adequate lifestyle without a need to take part in any additional pursuit.
Category F 6(2) and It’s Criteria
To acquire this, the applicant must
- Purchase a real estate property provincially.
- A regular annual income flow from overseas to a 3-year Fixed Deposit Local Bank Account is mandatory. The income must not be from the current employment. This permit holds validity only if the person visits the country at least once every two years.
Dominica too is one such country that gives citizenship through investment. Dominica Citizenship cost for an applicant which must be a monetary non-refundable contribution to the Government fund.
What Are the Documents Required?
- Property Purchase Agreement
- Payment receipts
- Annual Income Proof
- Bank Certificate.
Long-term Residency and It’s Criteria
The long-term residency is issued to a non-EU citizen who has lived in Cyprus for at least 5 years.
The applicant should submit an employment contract with a minimum duration of 18 months and should have sufficient income and accommodation.