You (as an investor), your spouse and children under 18 will obtain a permanent residence permit in Cyprus.
If your spouse needs a separate residence permit, just submit two applications. She does not need to fulfill investment and financial conditions as real estate not cheaper than € 300 thousand, a deposit of € 30 thousand and a guaranteed annual income of € 30 thousand are required for a couple.
Children under 18 are included in parental residence permits for fee.Adult children and permanent residency
Investor's unmarried children aged 18-25 can also apply for permanent residence if they are full-time students abroad and are financially dependent on their parents. In this case, your required annual income is increased by € 5 thousand for each child.
Permanent residence permit will stay valid even when the owner turns 25, gets married and becomes financially independent, but will not apply to future spouses and children.Investor's parents and permanent residency
To get permanent residence for your parents you only need an additional annual income of € 8 thousand for each of them.How to apply?
- fill out a MIP1 application form;
- attach a document confirming a bank transfer of money for investments in Cyprus from abroad;
- attach a title of ownership or contract of sale of property in Cyprus, as well as confirmation of payment of at least € 200 thousand excluding VAT or supporting documents for the purchase of shares;
- attach documents confirming permanent foreign income of at least € 30,000 plus € 5,000 for the spouse and each of the children and € 8,000 for each of the parents;
- attach Criminal Record Certificates and official statements that you and your spouse do not plan to work in Cyprus;
- attach copies of passports, curriculum vitae, marriage certificate, birth certificates of children; documents in Russian must be translated into English and bear the apostille stamp;
- pay a single fee of € 500 for yourself, your spouse and children under 18 and the registration fee;
- pay additional € 500 for each of the children 18-25 years old and parents applying for permanent residence;
- submit the entire package of documents in person, through a representative or by mail to the Civil Registry and Migration Department.