How to move to Cyprus: documents, residence permit, renting and buying real estate, adaptation

We will help you move to Cyprus — we will comprehensively organize both the process of moving and the subsequent adaptation of the family on the island.

Cyprus attracts relocators and investors for many reasons:

• low tax rates and a soft tax system;
• a legislative system based on British law;
• high level of security in the country;
• a warm climate and 330 days of sunshine a year;
• clean environment (water, air, soil, food);
• high standard of living of the local population;
• the best education and relatively inexpensive English schools;
• luxurious natural and sea views, rich nature;
• quality and respectable real estate;
• stable growth of prices in the real estate market, which is attractive for investment.

It’s an excellent place for both business and family life. But what will you need to move to Cyprus?

• Getting a residence permit (residence permit, permanent residence permit).
• Opening a bank account.
• Renting and buying housing.
• Choice of school and kindergarten for the child.
• Adaptation on the island.

Obtaining a temporary residence permit and a permanent residence permit in Cyprus

To live legally in Cyprus, you can get a temporary residence permit Pink Slip, which allows non-EU citizens to stay in Cyprus for more than 90 days and extend their stay regardless of the length of the original visa. Family members can also receive a Pink Slip. The residence permit is valid for one year and can be renewed annually. The procedure for obtaining a practice residence permit takes 3 to 6 months. After the application, it is allowed to stay in Cyprus until the issuance of a residence card.

You can also get a permanent residence permit when buying property in Cyprus worth 300,000 euros plus VAT on an expedited procedure Fast-Track. In this case, you can become the owner of a permanent residence permit in just two months.

Opening a bank account

Cyprus is not an offshore jurisdiction, but its tax and financial system is flexible and attractive to investors. The banking system in the country is one of the best. Therefore, when you come to the island, you will, in any case, face the issue of opening an account at a local bank. In addition, it is necessary to obtain a residence permit.

To open an account with a bank in Cyprus, you must provide the following documents:

• standard questionnaires of the selected bank;
• Identification documents of the applicant: passport, proof of residence, marriage certificate, information about professional activities;
• documents about the sources of income;
• documents confirming the general level of wealth of the applicant;
• reference letter from the bank where the applicant already has accounts;
• information on the planned turnover of the accounts and geography of payments;
• document confirming the absence of a criminal record.

Renting or Buying Real Estate in Cyprus

The availability of housing in Cyprus is also a prerequisite for obtaining a temporary residence permit. For this purpose, it is necessary to conclude a long-term rental agreement for an apartment/house (1 year or more) or buy an apartment or villa.

We can help you find a home to rent and offer a portfolio of properties to buy, taking into personal account preferences and other criteria that are important to consider when purchasing: the investment appeal, reliability of the developer (in the case of buying), the terms of the contract and payment, etc.

We have unique properties in our portfolio. We can also pick up several properties nearby if you are moving with friends, family, or colleagues.

Choosing a school and kindergarten for your child

In Cyprus, there are both public (municipal) kindergartens and schools, as well as private ones. The municipal ones are Greek. The schools are free. But private institutions are paid. There are Russian, American, and British schools. The latter is especially appreciated not only in Europe but also in the world.

Also, on the island, several good universities give their students a diploma of the European standard.

Our experts will help you understand which kindergarten, school, or university to choose for your child, precisely for your personal needs and geographic location.

Adapting on the Island

When you come to a new country, you are sure to face questions of adaptation: which clinic and which doctor to go to, how to pay utility bills, where the tastiest food is, which supermarket has the freshest products, which notary or lawyer to go to and so on.

Our team has been living in Cyprus for more than ten years. We know all the nuances of the island and what life is like here from our own experience. So we can make a complete adaptation and advise you on the best for your tastes and needs.

Contact SPM Real Estate and order a relocation service in Cyprus.

Your most valuable contact in Cyprus — SPM Real Estate.

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