Cyprus has become a hot spot now in the Mediterranean coast, drawing investors and tourists from around the world. At prime locations in Cyprus like Nicosia or Limassol, there is a recent surge in the number of buyers of the property. Yes, with the government’s approval for the foreign nationals to buy the property and settle down, the numbers have risen. However, there are quite a few prerequisites to follow before you get your permanent resident permit. You may have seen countries giving such grants to full-time working people or students. But if you are working from home as a freelancer, what is your chance? Let us check on how to get Permanent Residency in Cyprus, working from home.
- Profession: You must have a job in a foreign company and not any company in Cyprus. You can even be working full-time or freelance from home as long as you do it legally. You will definitely need to show your annual income and savings to ensure you can afford to settle down in Cyprus if you go for a permanent residence here. In case you are found to be indulging in any profession in Cyprus, you will face legal problems.
- Minimum Annual Income: If you are from a non-EU country and willing to buy a property in Cyprus, you need to have an annual income of €30,000. This could legitimately be your salary from abroad.
- Extra Income Support For Every Dependent: If you have any dependents, you need to add €5000 to your annual income.
- Have Sufficient Savings in a Cypriot Bank: You need to show the papers and documents proving your savings in a Cypriot bank to provide for your family.
- Your Regular Visit to Cyprus: The clause also requires you to have visited Cyprus at least once in two years.
- Language of Documents: All your legal documents should be in English or Greek. An official translator should do the translation for you before you purchase the property.
The permanent residence permit issue will be for the long-term of five years. You may go for an extension of validity after its expiry and then after it automatically gets renewed. In short, even if you are working from home, you can get your PR to help you settle down in Cyprus.
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