New Rules for Guest Residence Permits Have Come Into Force in Cyprus

Since January 1, 2023, the Government of Cyprus has made several changes to the guest residence permit, including revised financial criteria and adjusted health requirements.

Financial requirements. Applicants for an initial temporary residence permit must now confirm sufficient financial resources, meet the minimum income threshold of at least €2,000 per month, with an additional income of 20% for spouses and 15% for each accompanying child. 

Income received in Cyprus, such as dividends from a Cyprus company or rental income, may be included in the application as proof of the minimum established income. 

In addition, applicants must transfer and provide proof of at least €10,000 in their personal bank account in Cyprus. 

Extension of residence permit. From May 1, 2023, applicants extending existing temporary residence permits must provide their bank history for the last 12 months, confirming at least €24,000 in money transfers abroad, and a current bank statement with a balance of at least €6,000. 

Thus, any applications submitted before May 1, 2023, will be considered in accordance with the current policy on applications renewal. 

Other requirements. Permit holders and their dependents must now confirm the absence of criminal records (properly apostilled or legalized) in their country of origin or residence. 

A medical certificate for HIV, sexually transmitted diseases, hepatitis B and C and a chest X-ray for tuberculosis is also required for permit holders and all dependents aged six years and older after their arrival in Cyprus. Previously, holders of a temporary residence permit did not need a medical examination.

Source: Fragomen
Photo by Datingscout on Unsplash

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