Residency in Cyprus

Residency in Cyprus

Post Brexit, there are new routes to residency for British nationals. If you do not have an EU passport you will need a visa to spend more than 90 days in 180 in Cyprus. Here are the main routes at the time of writing. If you have an EU passport you will apply for the so-called Yellow Slip (officially known as the Registration Certificate or MEU1. There is also a limited allocation of digital nomad visas each year.

Temporary Residency Permit (Pink Slip)

This one-year renewable visa was the most popular visa in 2025. You will need to show adequate income from abroad to cover living expenses while residing in Cyprus. Applicants need to show they have an annual income which in total should be not less than €2,000 per month or €24,000 per year for one person. This amount increases by 20% for the spouse and 15% for each child. For the purposes of calculating the amount, transfers abroad or to third parties will not be considered.

Income includes salary, pension, deposits in a bank account abroad generating income/interest, rents, dividends, interest on deposits Applicants need to have a deposit of €10,000 in Cypriot bank for themselves increased by an amount between €5000- €10000 if the spouse is also applying. They must either be renting or have bought a house or apartment in Cyprus. They should also possess a clean criminal record from the country of origin or residence of the applicants, and have valid private health insurance for medical care valid in Cyprus.

A holder of this temporary residence permit cannot stay out of the country for more than 3 months continuously as the permit will be cancelled. Also, it does not entitle them to work in Cyprus. It is valid for one year and can be renewed on an annual basis. Apart from the Temporary Residence Permit, you can apply for Permanent Residency under either Category 5(F) or Regulation 6(2).

Category 6.2 (fast track)

This means you can apply for residency if you buy a new home from a developer. This must be worth at least €300,000 + VAT (5 or 19%). Estate agents are able to facilitate the options/negotiations. Processing of applications takes around 3-6 months hence it is often referred to as the “fast-track” visa.

Applicants now need to provide evidence of a secure and steady annual income emanating from abroad that should be a minimum of €50,000 for the main applicant which increases by €15,000 for the dependant spouse and €10,000 for each dependent child.

Such secured annual income of at least €50,000 (of the applicant or his/ her spouse) which must be remitted from abroad may come from: salary, dividend income, pension, deposits and/or rental income and needs to be proven by a tax declaration from the country in which the applicant is a tax resident. In calculating the annual income, the income of the spouse is also taken into consideration. The above income must be proved on an annual basis.

Category F Residency

This requires a property purchase of any re-sale value and temporary residence is renewed every year – a bit like a ‘Non- Lucrative Visa’ in Spain or a D-7 in Portugal. There is no minimum amount that must be spent on the property that is being purchased and the property does not have to be from the primary market - it can be a resale property or a new-build of any value.

It is for financially independent people (with a secure and regular annual income) that will not open a business, or trade in Cyprus, and if you own a property this is an advantage. The application process can take a year to 18 months. Both visa options are for people who will not work in Cyprus; if you are to be employed by a Cypriot company then you may get a work permit through your employer.

UK Nationals relocating to Cyprus

Those UK Nationals who wish to live in Cyprus and, at the same time, either set up a new business or relocate their existing business to the Island could set up a Company of Foreign Interests.

Undoubtedly, Cyprus offers competitive advantages in terms of attracting UK-based companies that seek to maintain close business ties within the European Union, and such companies are considering Cyprus for business operations post-Brexit. A Fast-Track Business Activation Mechanism (recently transformed into a Business Facilitation Unit) has been recently implemented by the Cyprus Government, aiming to speedily and efficiently support companies wishing to set up or further expand their operations in Cyprus.

This has made it simpler, faster, and more efficient to set up and register companies of foreign interests with the relevant authorities. These companies can employ third-party nationals under more favourable provisions.

A new Company of Foreign Interests is required to have physical presence in Cyprus, including premises and staff. There must be an establishment/operation of independent offices in Cyprus in suitable premises, separate from any private housing or other office. There is also a requirement of an initial investment in the company of €200,000. In order to be eligible, non-EU shareholders should own the majority of the company’s shares (over 51%), though this requirement is lifted for certain categories of companies.