VIZAS (YELLOW SLEEPS) AND CITIZENSHIPS
I. Process for granting the long term Permit of Residence in Cyprus (the so-called “Yellow Sleep”) :
Category A:
Persons who intend to work as self employed in agriculture, cattle breeding, bird breeding or fish culture in the Republic, provided that they have in their possession adequate land or a permit to acquire same, they have fully and freely at their disposal capital of approximately EUR 430.000 and such an employment should not negatively affect the general economy of the Republic.
Category B:
Persons who intend to work as self employed in mining enterprises in the Republic, provided that they have in their possession a relative permit, they have fully and freely at their disposal capital of approximately EUR 350.000 and such an employment should not negatively affect the general economy of the Republic.
Category C:
Persons who intend to work as self employed in a trade or profession in the Republic, provided that they have in their possession a relative permit, they have fully and freely at their disposal capital of approximately EUR 260.000 and such an employment should not negatively affect the general economy of the Republic.
Category D:
Persons who intend to work as self employed in a profession or science in the Republic, provided that they have academic or professional qualifications, for which there is demand in Cyprus. Possession of adequate funds is also necessary.
Category E:
Persons who have been offered permanent employment in the Republic, which will not create undue local competition.
Category F:
Persons who possess and have fully and freely at their disposal a secured annual income, high enough to give them a decent living in Cyprus, without having to engage in any business, trade or profession. The annual income required should be at least EUR 9.570 for every dependent person, but the Immigration Control Board may demand additional amounts as necessary. Most applicants come under this Category, the majority of them being pensioners or retired persons.
Additional requirements for this category are:
– an account in any Cyprus bank;
– original documents regarding the income of the applicants.
With this type of category person must declare if they leave in or out of Cyprus. If they declare that they leave out of Cyprus, they must visit Cyprus once a year, to avoid having their visa canceled. If they declare to leave in Cyprus, they can stay out of the Republic for 2 years.
With this type of visa, person can move freely in all Europe and they can also obtain American Visas for 2 – 3 days.
Applicants who are abroad may submit an application directly to Cyprus, as stated above or through the local Consular Authorities of the Republic of Cyprus.
Category F -Accelerated procedure – granting Residence Permit to applicants from non EU countries who invest in Cyprus:
The residence permit will be granted, provided that the applicants fulfil the following requirements:
– have at their disposal a secured minimum annual income of EUR 30.000, from sources other than employment in Cyprus. The necessary minimum annual income is increased by EUR 5.000 for each dependent person.
– The application form must be submitted accompanied by a Title of ownership or contract of sale, of a property in Cyprus, a house, apartment or other building, of a minimum market value of EUR 300.000Β and proof of payment for at least EUR 200,000.
-The applicant must submit a confirmation letter from a Cypriot Bank stating that he has deposited a minimum capital of EUR 30.000 in an account, which will be pledged at least for a three year period.
– A Criminal Record Certificate is required (if the applicant resides abroad), which must be issued by the Authorities in his country of origin, and the applicant should not constitute in general any threat against public order or security in Cyprus.
– The applicants should visit Cyprus at least once every two years.
It is estimated that when applying the procedure described above, the period for the examination of the application, shall not exceed a period of 1-2 months.
II. Vizitor’s Visa (temporary resident visa) – the requirements are:
– A rental contract or proof of purchase of a home;
– Bank guarantee for each member of the family EUR 530;
– Police clearance for the persons older than 18 years old;
– A bank account in Cyprus EUR 70.000;
– Proof of income from their home country;
– Marriage certificate, if it is the case;
– Birth certificate for children;
– Passport copies for all members;
– 4 passport size photos for all members;
– Medical certificate (blood tests, x-rays) which can be obtained from their home country.
Please contact us on office@fiduciara.com or by phone on + 357 991 964 11 to get help in obtaining any of the above mentioned types of visas or citizenship.