Visitor’s permits are granted to third country nationals who wish to reside in the Republic for more than 90 days and have sufficient financial means to support themselves, and their dependents, without the need to engage in any business activity in Cyprus.
As of 1 January 2023, applicants must present bank account statements, from a Cyprus bank, showing a minimum annual income of €24,000 (previously €9,568), plus an additional €4,800 per annum for their dependent spouse, and an additional €3,600 per annum for each dependent child. The applicant’s income must originate from abroad and includes salary, pension, rents, foreign bank deposits, dividends, and interest on deposits.
As an exception, the applicant’s income may derive from renting property located in Cyprus, dividends from Cyprus companies, and salaries for a job formerly undertaken in a Cyprus company of foreign interest (i.e., beneficially owned by third country nationals).
First time applicants can alternatively provide as evidence a transfer or a deposit of at least €10,000 in a Cyprus bank account.
Further, as of 1 May 2023, applicants who wish to renew their visitor’s permits, must provide a detailed bank statement of the previous 12 months showing a balance of at least €6,000 in their account at the time of submission of their application.
* This publication has been prepared as a general guide and for information purposes only. It does not purport to be comprehensive or to render professional advice. Before making any decision or taking any action that may affect you and/or your business, bespoke advice should be obtained.