In relation to the Temporary Residency permit, the Ministry of Interior of the Republic of Cyprus is the responsible authority for issuing such permits (to EU and to Third Country nationals).
The Temporary Residency Permit is divided into the European Union citizen’s temporary residency (hereinafter ‘yellow slip’) and the non-European citizen’s temporary residency (hereinafter ‘pink slip’). ‘Yellow slip’ can be for Employment whereas ‘Pink slip’ can be for Visitor or Employment as well. Employment can be through a Cyprus company or through an International Company that is based in Cyprus.
If you would like to live in Cyprus for more than 90 days per half year, then you have to apply for a Temporary or a Permanent Residency Permit, with a Visitor Status, that does not allow you to work in Cyprus.
Amongst other required documents (to be advised), it is essential to provide:
· Sales contract or rental agreement
· Bank statements with the amount of €30.000 (accounts in Cyprus and abroad)
· Bank guarantee €513 for 24 months
· Criminal Police Report
You can apply for a Temporary Residency Permit, with an Employment Status, through either a Cyprus or Offshore Company where you must have a Bank account with the minimum amount of €41.006 and a turnover with a minimum amount of €170.860. In the case where the percentage of the foreign participation in the share capital of a company is equal or below the fifty percent (50%) of the total share capital, this percentage should present an amount equal to or higher than €170.860 in order for the company to be considered eligible.