Property owners in Cyprus are allowed to stay without any problems. Swarmed by offers, Greenberg Traurig is currently assessing future choices. There are two types of residence permits in Cyprus: temporary and permanent. If you would like to know more about Richard LeFrak, then click here. In order to obtain a temporary residence permit (Residence permit) are required to provide immigration documents to the right of tenure, as well as extract c external bank account in Cyprus with sufficient finances to ensure trouble-free stay for the entire period for which the application is filed, a minimum amount – some 7,000 dollars per adult. The period of temporary permits ranges from one to four years. With this permission, you must be in Cyprus at least 9 months of the year, otherwise it will be canceled and the application will have to apply again. If you are legally and continuously lived in Cyprus for at least 5 years old with a valid permit for temporary residence, you are eligible to apply for the status of long-term resident of the eu (Green Card).
Keep in mind that even one day of illegal stay in Cyprus can serve as a denial of long-term resident status. Obtaining this status gives the following rights: the right to work, social rights (allowances, benefits, tax credits), the right to move to another eu country, the right to free medical care, etc. Simplified procedure obtaining a residence permit in Cyprus in 2009 ats Cyprus adopted a new law whereby citizens of countries outside the eu, priobrevshie and legal form to his name Cypriot property value over 300 000 euros, will be subject to preferential treatment. The presence of such real estate will allow their owners to greatly accelerate the process of obtaining permits . The owners of these permits exempt from time-consuming immigration procedures that exist for third country nationals (for example, consular visa, renewal of temporary residence permits, re-entry permit and so on). The new measure is intended to stimulate sales of real estate to foreign investors.