One of the most sought after immigration residency visas is the Retirement Immigration Visa. This visa is applicable in most countries and enables the holder of a retirement visa to reside in their preferred country regardless of their nationality. Cyprus is a very popular retirement destination and attracts retirees from all over the world. A perfect combination of low cost living, tax benefits, mild climate and wide use of English make Cyprus one of the best places in Europe to retire.
The application procedure for a retirement visa can be quite time consuming and requires the submission of several documents to the relevant authority. It is advised that you obtain the services of a professional consultancy firm that specialize in investment immigration and retirement visas to facilitate the application process and help administer the necessary due diligence documents.
Ways to obtain a Permanent Residence Permit
In order to settle in Cyprus permanently and to live on earnings derived from your pension and/or other income from sources outside Cyprus, you have to apply for a visa Category F. This type of visa is granted to Non- EU citizens, “who possess and have fully and freely at their disposal a secured annual income, high enough to give them a decent living in Cyprus, without having to engage in any business, trade or profession. The annual income required should be at least €9,568.17 for a single applicant and moreover at least €4,613.22 for every dependent person”.
A secured annual income is considered to be:
The application for Permanent Residence under Category F will be examined favorably in case a non EU Member buys a real estate property in Cyprus of €300.000 and more.
To find out more on how DeltaQuest can assist you in obtaining a Retirement Visa, please contact us.