Question about Cyprus permanent residency...

[WorldCitizen99]

Specifically about the slow-track category F program where you can buy a property for under 300k Euros

Some websites from lawyer's offices say that once you get your approval (in 12-24 months) that you only need to visit once every 2 years to keep the PR
while others (including the gov site) say that you need to "acquire residency" or "move" to Cyprus within 1 year of being approved....

Does that mean living in Cyprus for >6 months and becoming tax resident...?

Is it any different for the fast-track program (300K)?

 

[myshufflemix]

No one knows, what's the experts @CyprusLaw and @CyprusBusiness ?

 

[CyprusLaw]

WorldCitizen99 said:
Specifically about the slow-track category F program where you can buy a property for under 300k Euros

Some websites from lawyer's offices say that once you get your approval (in 12-24 months) that you only need to visit once every 2 years to keep the PR
while others (including the gov site) say that you need to "acquire residency" or "move" to Cyprus within 1 year of being approved....

Does that mean living in Cyprus for >6 months and becoming tax resident...?

Is it any different for the fast-track program (300K)?
Click to expand...

Some clarifications:

(a) Within one year from the approval you need to show that you have moved to Cyprus i.e. that you are renting a place full time or that you have purchased property.

(b) Provided that you comply with the above, your permit will not be cancelled unless you are outside of Cyprus for more than 2 years - i.e. if you come in Cyprus once every two years and at the same time you own or rent property in Cyprus then you are covered and the permit will not be cancelled.

(c) Additionally, a note about your first point - please note that under Category F you are not required to purchase property - you can simply rent. Purchasing property could help in your application being seen more favourably, but it is not a requirement (contrary to the fast track application).

 

[luap]

@CyprusLaw - Any idea on how long they're currently taking for approvals? I've heard there is a big backlog from before covid and there are long delays - what are you generally seeing? (Cat F)

 

[CyprusLaw]

luap said:
@CyprusLaw - Any idea on how long they're currently taking for approvals? I've heard there is a big backlog from before covid and there are long delays - what are you generally seeing? (Cat F)
Click to expand...

What you've hear is correct - despite what they say at the time of the application, I believe it will be a minimum of 18-24 months.

 

[Houdini]

CyprusLaw said:
I believe it will be a minimum of 18-24 months.
Click to expand...

That's a very long time!

 

[WorldCitizen99]

CyprusLaw said:
Some clarifications:

(a) Within one year from the approval you need to show that you have moved to Cyprus i.e. that you are renting a place full time or that you have purchased property.

(b) Provided that you comply with the above, your permit will not be cancelled unless you are outside of Cyprus for more than 2 years - i.e. if you come in Cyprus once every two years and at the same time you own or rent property in Cyprus then you are covered and the permit will not be cancelled.

(c) Additionally, a note about your first point - please note that under Category F you are not required to purchase property - you can simply rent. Purchasing property could help in your application being seen more favourably, but it is not a requirement (contrary to the fast track application).
Click to expand...

>(a) Within one year from the approval you need to show that you have moved to Cyprus i.e. that you are renting a place full time or that you have purchased property.

I thought that you needed to have already shown them a rental contract or proof of purchase as part of your application to get approval...it's not the case?

 

[ElBotellon]

CyprusLaw said:
What you've hear is correct - despite what they say at the time of the application, I believe it will be a minimum of 18-24 months.
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does it make sense for a EU citizen to apply in addition to the MEU1 also for this route? which are the advantages of a permanent residence permit category F for a EU citizen ? (I was wondering faster citizenship? immediate access to gesy?)

 

[CyprusLaw]

ElBotellon said:
does it make sense for a EU citizen to apply in addition to the MEU1 also for this route? which are the advantages of a permanent residence permit category F for a EU citizen ? (I was wondering faster citizenship? immediate access to gesy?)
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The permanent residence scheme is for non-EU nationals. EU nationals have the right to reside permanently in Cyprus and only need a registration in the form of MEU1.

 

[ElBotellon]

CyprusLaw said:
The permanent residence scheme is for non-EU nationals. EU nationals have the right to reside permanently in Cyprus and only need a registration in the form of MEU1.
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It is a bit confusing for me because many laws recall the term "permanent resident" but the definition of permanent resident seems ambigous. According to your statement a person that has an MEU1 permanently resides in CY, but for the immigration law the MEU3 is considered a permanent resident.

Indeed the permanent residence required for gesy for eu citizens to be a beneficiary is MEU3.

How shall we interpret "permanent residence" as MEU1 or MEU3?

 

[CyprusLaw]

ElBotellon said:
It is a bit confusing for me because many laws recall the term "permanent resident" but the definition of permanent resident seems ambigous. According to your statement a person that has an MEU1 permanently resides in CY, but for the immigration law the MEU3 is considered a permanent resident.

Indeed the permanent residence required for gesy for eu citizens to be a beneficiary is MEU3.

How shall we interpret "permanent residence" as MEU1 or MEU3?
Click to expand...

Please note that these are two different concepts - MEU1 is required for the registration of EU citizens, MEU3 is required after an EU citizens legally resides in Cyprus (i.e. having the MEU1 registration) for 5 consecutive years.

 

[ElBotellon]

CyprusLaw said:
Please note that these are two different concepts - MEU1 is required for the registration of EU citizens, MEU3 is required after an EU citizens legally resides in Cyprus (i.e. having the MEU1 registration) for 5 consecutive years.
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This is clear, what is not clear is if a EU citizen with MEU1 (so before 5 years are completed) satisfies the requirement of "permanent resident of the Republic" or not, which is a requirement often present in legislation.