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New rules for new arrivals for residency

Last activity 09 June 2022 by shotokan101

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Toon
Fingers. Crossed ...I too am awaiting a reply
Toon
Toon, the earliest we could move would be September. My plans could just about cope with the new criteria but it means selling our UK home and burning all our bridges. We have been to Cyprus many times  on holiday and I had two tours when in the military one with the UN. But, I think that is different to living there. I really wanted to rent for a year or two and keeping my UK home in case it all went pear shaped.
- @MacGeorge8035



The council of ministers also get to approve or reject property purchases especially for non EU nationals .. .. EU nationals can buy as many as they want and rent them out. Non EU natonals can only buy one each and must live in them . They are not allowed to rent them out. Although I have heard it said they can but only  to Cypriot nationals ..I do know someone who who found  a way round it by forming a company to buy and rent out but you must be registered for tax and registered with the Cyprus Tourism Authority..
Toon
Renting first is a good sound plan ...you need to try as many places as you can or at least visit and stay short breaks so you can establish what you like and don't like about various areas.. visit morning noon and night..... Speak to locals get as much local information as possible.. don't rush into buying..



Good luck and fingers crossed
ridata2001
For what it's worth from local company..



Dear Stephen 
Greetings from F.M.B VIP Immigration Services Ltd! Thank you for your email.
There are 2 categories of Permanent Residency in Cyprus:
Category F - temporary on hold but the information you have sent to us is about new regulations for this type of residency. It will require the purchase of a property for minimum EUR 250'000 + to have EUR 40'000 for the main applicant + EUR 10'000 extra for each family member.
Category 6.2 - fast-truck - it requires to purchase a brand new property for a minimum amount of EUR 300'000 + VAT + to have a proof of EUR 30'000 annual income of an applicant + EUR 5'000 for each family member
If these 2 options are not suitable for you you can apply for a Temporary Residency in Cyprus.
There are no requirements for purchasing a property. You just need to transfer a certain amount of money every year from your bank account abroad to your bank account in Cyprus.
PLEASE NOTE that none of the above mentioned options gives you the right to work or to be engaged in any kind of business in Cyprus.
But you can be a shareholder of a company.
If you are planning to work in Cyprus then it's a work permit only which is completely different thing and requirements.
Please see the information above and let me know what category is more suitable for you so I can give you more detailed information and our fees.
If you have any additional questions please do not hesitate to contact me.
Looking forward to hearing from you.
--
Regards,
Iana Pavlou
Immigration Consultant
F.M.B. VIP Immigration Services



Looks like the Temp residency route will become the favoured option, not had time too digest info as yet...



Steve.
ridata2001
In the words of Captain Darling in Black Adder “Bugger”. Portugal looks nice1f600.svg
- @MacGeorge8035



Looking as we speak.... as for burning bridges, set the f*****s alight, U only live the once..



Steve.
MacGeorge8035

@ridata2001, That looks like good news to me. I am happy to go down the temporary residency route for a few years. If we do want to become permanent residents later on, I should be able to meet the criteria as outlined.

MacGeorge8035

@ridata2001, I am an optimist who lives with a pessimist so burning bridges would be fine with me, less so my OH.

ridata2001

@ridata2001, I am an optimist who lives with a pessimist so burning bridges would be fine with me, less so my OH.

- @MacGeorge8035



Simple solution, we'll both ditch our missus, and crack on...  :)

Where U based currently?..

I,m a red from North west...     U lookin too move Paphos way.....?



Steve.
MacGeorge8035
I am in the north east and I bleed black and white when cut. When you planning to move?
MacGeorge8035

@ridata2001, we have no real preference at the moment. We know both the East and West of the island I have a holiday let booked for 6 weeks in November over near Larnaca. Once in situ we will firm up the area we want to be in.

ridata2001
Looking to have things sorted for the end of the year,  Lookin at  a small village near Paphos, (Anarita).. Will be stickin our house on market in October, but i dont mind bein away an lettin Agent sort sale etc..

Was originally lookin at Spain, until ridiculous requirements did my head in,  Out for a month in cyprus in July so will sort most things out then, unless requirements change significantly......  done with the UK now, so we dont intend coming back.

I know the east fairly well, but much prefer Paphos side..



Steve.
Toon
Renting first is a very good idea
Toon
Good luck and best wishes to you all.. your new life adventure awaits you....



I suspect the pink slip temporary route will be the route most relocators will need to take .
Toon

On 27 May, 2022 the Cabinet approved amendments to the regulations governing how immigration permits may be granted to foreign nationals.Though these amendments need to be approved by parliament they are quite significant and will have an impact on non EU nationals requiring to live in Cyprus


Esme Palas recent article on the reforms to residency permits was published in the financial mirror.


Cyprus reforms residence permits

Changes have been made to the government granting immigration permits to non-EU nationals, improving the self-employed procedure but raising the bar for newcomer retirees.

On 27 May, the Cabinet approved amendments to the regulations governing how immigration permits may be granted to foreign nationals.

For a while now, those of us working in immigration law have been anticipating reforms to the current regime and regulations governing the granting of residence permits.

The regulations approved by the Council of Ministers stated that an immigration permit might be granted to foreigners who fall into the following categories:


(a) Self-employed foreigners, i.e.  persons intending to be self-employed in a business or profession or science in the Republic, provided that the following conditions are met cumulatively

(i) They possess the qualifications for the pursuit of that profession or science or for the operation of that particular undertaking

(ii) If a professional or other licence or permit is required to be able to work in the field, they choose they must hold that relevant license/permit.

(iii) They hold sufficient funds for this purpose, the amount of which shall be determined by a decision of the Council of Ministers

(iv) They have settled any obligations to the Social Insurance Services and the Tax Department in relation to taxes and contributions

(v) This employment will benefit the Republic; it will align with its development priorities, not adversely affect its general economy, and not create unjustified competition in the domestic labour market.

(b) Employed Foreigners: This concerns persons who are offered employment and who intend to accept it, provided that this shall not create unjustified competition in the field of employment in which they intend to work.

It is understood that foreigners and their employers would have had to have concluded an employment contract, duly certified by the competent authority, where applicable.

It is further understood that the employers need to meet the criteria and conditions for the employment of foreigners and that they must have settled any obligations to the Social Insurance Services and the Tax Department in relation to taxes and contributions.

(c) Foreign Investors: This concerns foreigners who have made a significant investment in the Republic, the amount and type of which shall be determined by a decision of the Council of Ministers, and with funds which must have emanated from legal sources outside the Republic.

(d) Foreigners with sufficient means to sustain themselves whilst living in the Republic: This refers to persons who intend to reside in the Republic without exercising any employment or other economic activity in the Republic and have fully and freely at their disposal a secured annual income of €40,000, increased by €10,000 for each additional member of the family, as well as a suitable privately-owned dwelling in the Republic for the stay of themselves and their family, of a value of at least €250,000.

Additional requirements

The Regulations also state that an immigration permit may be granted provided, in addition, that the below conditions are met cumulatively:

(a) That they have a valid passport or other travel documents

(b) They do not pose a threat to national security, public order, and public health.

It is unclear whether these new changes will replace existing regulations under the Aliens and Immigration law.

Also, there are a lot of areas that have not yet been defined, such as how much the investment needs to be.

Most importantly, these regulations will need to be approved by parliament before being enacted into law.


Esme Palas, Barrister at Law, Partner at the law firm Michael Kyprianou and Co LLC. esme.palas@kyprianou.com


ricolo
Hi Toon, do you know if these changes apply to just new arrivals to Cyprus or are they for all currently residing here and renewing for example MVis3? Or just too earky to know?   
Toon
It still has to pass through parliament. My gut feeling is it will as they need to find something that replaces the golden visa scheme.


I can't see them applying it to current legal residents with a valid residency document
ridata2001
As long as they leave the Temp Residency alone, i can deal with that, though i wonder how they would deal with those who do 5 years temp res, and then wish too make it permanent, but there home was purchased less than  250k, and they wouldn't meet the 50k income requirement.



Steve.
MacGeorge8035

@ridata2001, Interesting point about moving from temp to permanent residency. Me and my OH were discussing this last night. TBH we feel we could probably make the new criteria but we would have to sell our UK home, after being on the island for 5 years should be enough time to decide whether we want to make it our home. I did say to my OH that we could cancel the whole thing, she threatened me with physical violence 1f923.svg

ridata2001

@ridata2001, Interesting point about moving from temp to permanent residency. Me and my OH were discussing this last night. TBH we feel we could probably make the new criteria but we would have to sell our UK home, after being on the island for 5 years should be enough time to decide whether we want to make it our home. I did say to my OH that we could cancel the whole thing, she threatened me with physical violence 1f923.svg

- @MacGeorge8035

"she threatened me with physical violence" :):):)

Told U before, we best just dumpin the women and scuttling off....   Selling up, was always part of my plan, at this time of my life, it's the last adventure, I'm ex forces, so little phases me, the missus could worry a nest of rats.. As far as i can ascertain, you can carry on renewing the Temp Res with no limit on it ie: beyond 5 years etc... could be wrong,  We were considering the faster track as were retiring 8-ish years early, and i was looking too circumvent  8 years private medical, I think there's little they can do, too alter the Temp Res, but we'll see...:)
Toon
Time will tell
MacGeorge8035
I have just spoken to a lawyer at GEORGE K. KONSTANTINOU LLC - LAW FIRM. She has told me that there are no changes to the temporary residency route and providing I can meet the income requirements of €15,000 per year for a couple, rent a property for at least 12 months, deposit €15,000 in a Cyprus bank and have medical insurance then there should be no problem gaining a “pink slip”. Hope this is helpful. We are still planning to come across on the 1st November, flights and temporary accommodation are booked.
Toon
I don't believe there is any such legal requirement for a minimum 12 month rental contract as immigration dept told me that..

From immigration dept

Hello!

There is no legal time constraint on the lease contract. Keep in mind that when they relocate they will have to declare to our offices the new address so that their application will be sent to the new address.

Andreas Damianou

Administrative Officer

Civil Registry and

Migration Department
MacGeorge8035

@Toon, thanks still waiting for a reply to my earlier query from the immigration office. I must admit to being more confident about the move now.

Toon
Me too...
ridata2001
Same,



Thanks Fellas... Appreciated,

I'll keep in touch Macgeorge, we may well end up going through process around the same time...



Steve.
MacGeorge8035

@ridata2001, Steve no problem, what Mob were you in?

ridata2001
@MacGeorge8035



1rtr  1st Royal Tanks, Mainly Baor and Canada more times than i care too recall.. :)  Our Recce troop was in Cyprus around 84-ish...... Yourself...?>



Steve.
MacGeorge8035
1st Bn RRF, Left in 1988. BAOR in Minden various postings in Germany and around the world. Did BATUS in 1982 I was in Recce using Scimitars. In Cyprus twice 1978 with the UN based in Dheklia and on the barrel line. 2 years in Epikospi, 1984.
ridata2001
Our Recce troop had scimiters and scorpions, used too drag race them round the Tank park in Hildesheim, spent most my time playin football round the world for the Army.....  Batus.... that name still send horrible chills through me... did 3 i think, was proper hard work for the Tanks, hated every minute, was a major player in buying myself out.... i just didn have another batus in me...  :)      Drop me a private message anytime about anything, will defo be going through process at same time,  i,m out in Paphos again in around 4 weeks, i,ve managed too connect too 1 or 2 people that can help sort any little niggles etc..shan't go into too much detail here...



Steve.
shotokan101
Our Recce troop had scimiters and scorpions, used too drag race them round the Tank park in Hildesheim, spent most my time playin football round the world for the Army.....  Batus.... that name still send horrible chills through me... did 3 i think, was proper hard work for the Tanks, hated every minute, was a major player in buying myself out.... i just didn have another batus in me...  smile.png      Drop me a private message anytime about anything, will defo be going through process at same time,  i,m out in Paphos again in around 4 weeks, i,ve managed too connect too 1 or 2 people that can help sort any little niggles etc..shan't go into too much detail here...



Steve.
- @ridata2001



Why not share any useful contacts ❓
ridata2001


Why not share any useful contacts ❓
- @shotokan101



I have appointements with both, Mid July George, once i ascertain thier usefullness, i'll let the Forum know.. I have also messaged you.
shotokan101


Why not share any useful contacts ❓
- @shotokan101



I have appointements with both, Mid July George, once i ascertain thier usefullness, i'll let the Forum know.. I have also messaged you.
- @ridata2001



Cool 😎

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