Temporary residence permit (residence permit - Pink Slip)
If you do not want or cannot apply for the status of a permanent resident of Cyprus, or go through the procedure for obtaining permanent residence in the usual way, but, at the same time, you need to stay in Cyprus most of the time, then you can obtain the status of a temporary resident of Cyprus for a period of one year, so called Pink Slip. This immigration status involves staying in the country up to 365 days a year, but not less than 183 days a year.
Pink Slip (residence permit) can be renewed an unlimited number of times. To do this, you must apply for the renewal one month before the expiration of the current Pink Slip. Your application can be considered for 3-6 months, during which you will legally stay in the country. If for one reason or another you need to leave the country after the expiration of the current Pink Slip, but before receiving a new one, then in order to enter back into Cyprus, you just need to present at the border a document confirming the submission of documents for the extension of your Pink Slip for the next period (receipt of payment for processing documents with your migration number).
A temporary residence permit has a number of features:
- First, it must be renewed annually (which, however, is not a complicated procedure, with a minimum package of documents).
- Secondly, you cannot be absent from Cyprus for more than three months. If you leave the country and do not return (do not cross the border) within three months, then your Pink Slip will automatically be canceled and you will have to enter Cyprus on a visa and apply for a new Pink Slip.
To receive the Pink Slip, the applicant must submit the following documents to the Immigration Office:
- Real estate documents (purchase contract or title deed or lease agreement)
- An extract from your account in a Cypriot bank, from which you can see the transactions and the current balance of funds. The transactions must show that your source of income is abroad, and the money is spent in Cyprus. At the same time, it is desirable that the balance on your account corresponds to approximately € 6.000 for an adult family member and € 3.000 for a minor. Such a balance should only be at the time of the bank statement. In the future, you can use this money at your own discretion.
- Certificate of income (Any documents confirming your income: a certificate of salary, interest on deposits, dividends from owning a business, an agreement on the lease of your property, etc.).
- Bank guarantee for 1 year or more. Issued by the bank upon freezing € 512 (per person) on the account.
- For children of school age - a certificate from the school confirming that the child is studying there
- Medical insurance for each family member (family insurance)
The cost of the first application for Pink Slip and assignment of a migration number is € 140.
The cost of renewing Pink Slip for the next 365 days is € 70.