Non-EU Nationals who wish to reside in Cyprus for more than 90 days, may file an application for a Temporary Residency Permit, commonly referred to as a ‘Pink Slip’.

A Pink Slip grants its holders the right to reside in Cyprus from the day of filing of the relevant application and to travel freely in and out of the country without having to apply for a Visa or an Entry Permit.

As Pink Slip holders are not allowed to engage in any form of employment under the Visitor status, applicants need to provide evidence of a personal steady income generated in a country other than Cyprus and sufficient funds to support their stay in Cyprus.

Benefits

1. Permit valid for a 1-year period. 
2. The Spouse and underage or dependent children of a Pink Slip holder are also eligible to obtain a Pink Slip in Cyprus.
3. A Pink Slip can be renewed repeatedly.
4. Pink Slip holders can reside in Cyprus from the time of filing of the relevant application.
5. Pink Slip holders can receive dividends from investment in a Cyprus company or abroad.

A Pink Slip permit will be cancelled automatically if its holder remains outside of Cyprus for more than 90 consecutive days.

Further Requirements

1. Applicants need to rent or own a residential property in Cyprus.
2. Applicants need to provide a Clean Criminal Record Certificate from their country of origin or residence.
3. Letter of Guarantee by a bank in Cyprus covering possible repatriation expenses.
4. Health Insurance Policy for Medical Care in Cyprus.

Why Cyprus?

1. A safe destination, having one of the lowest crime rates internationally.
2. One of the most favourable tax regimes in the world.
3. No withholding tax on dividends paid to foreign shareholders.
4. Underage or dependent children of a Pink Slip holder have the opportunity to study in some of the country’s world-renowned education facilities, schools and Universities.
5. Possibility to open an EU bank account and obtain an EU Tax Residency.
6. Mediterranean climate and lifestyle.
7. Cyprus is a gateway between the European Union and the Middle East. 

Should you require further information, contact our team at info@paraschou.com.cy.