The Cypriot Residency Permit, also known as ‘Yellow Slip’, is available to European (EU and EEA) citizens who wish to relocate and work in the Republic of Cyprus. The Yellow Slip is granted pursuant to the right of European citizens granted pursuant to the provisions of Acquis Communautaire as adopted by the Union Citizens and their Family Members to Move and Reside Freely within the Territory of the Republic of Cyprus Law of 2007. The Cypriot Residency Permit does not expire and is valid indefinitely.
The Residency Permit may be obtained by an EU applicant for several purposes including, employment, self-employment and retirement in the Republic of Cyprus. Thus, the documentation needed varies depending on the category that the EU applicant wishes to apply for.
Amongst others, the applicant is required to have an address in the Republic of Cyprus and for this purposes with a rental agreement (or proof of home ownership/purchase) should be provided to the relevant authority.
Additionally, the EU applicant needs to have a full cover health insurance in the Republic of Cyprus. Also, the applicant is required to be physically present for submitting the application to obtain the Residency Permit, i.e. the application cannot be submitted through proxy or via a power of attorney.
The EU applicant must submit his application together with the required documentation to the relevant authorities within four months from the date of entry into the Republic of Cyprus. The application process is initiated by the completion and submission of the relevant forms and documents with the relevant authorities. The Cypriot authorities need at least two weeks to review the application of the EU applicant and inform him regarding the outcome of his application.
If you wish you can find further information regarding the lucrative tax benefits of obtaining a Residency Permit to live and work in the Republic of Cyprus here.
Our team of legal professionals possesses years of expertise and knowledge, and can best advise you regarding the requirements and process of obtaining the Cypriot Residency Permit. Feel free to contact Mr. Stephanos Evangelides, Director of Legal Services at Evangelides & Partners at firstname.lastname@example.org or Mr. Charles Savva, Managing Director, Tax & Immigration Advisor at Savva & Associates at email@example.com for an initial consultation.