Immigration to Cyprus from the Russian Federation

Immigration to Cyprus is becoming increasingly popular among citizens of the Russian Federation due to its attractive living conditions, mild climate and favourable tax system. In this article we will look at the main options for obtaining a residence permit (LPR) and permanent residence (PR) in Cyprus: through the purchase of real estate, Pink Slip LPR (Visitor) and work visas. We will also analyse their advantages and compare the most suitable options for different categories of applicants.

1.Permanent Residence through the Purchase of Property

One of the most popular ways for Russian citizens to obtain permanent residence in Cyprus is to buy property. Cyprus offers a unique programme of residence through investment (Cat 6.2), which has become one of the most popular among wealthy Russians.

2.Main conditions of the programme of residence through real estate:

– A property investment of at least €300,000 (excluding VAT). The amount must be paid from an account outside Cyprus directly to the account of the Developer ! A personal account in Cyprus may be a transit account.

– The property to be purchased must be new and purchased from a Cyprus property developer.

– Proof of a stable income outside Cyprus of at least €50,000 per annum for the main applicant (with an increase for each dependent family member) is required.

– Application for and receipt of a residence permit within 14 months.

– Absence of a serious criminal record

3.Benefits of the programme:

– Quick obtainment of a permanent residence permit with the possibility of including family members (spouses, minor children, adults up to 25 years of age).

– No need to reside in Cyprus permanently, it is sufficient to visit the country every two years.

– Access to high quality health care and education systems.

– The possibility of obtaining Cypriot citizenship after 8* years of continuous residence on the island.

According to statistics, in 2023, more than 30% of all applications for permanent residence through property in Cyprus came from Russian citizens, which underlines the demand for this option.

4.Pink Slip residence permit

The Pink Slip residence permit (Visitor) is a temporary residence permit that allows Russian citizens to reside legally in Cyprus without the right to work. This type of visa is intended for those who want to reside on the island for a long time, but do not plan to work.

5.Basic conditions for obtaining Pink Slip:

– Proof of sufficient income to live in Cyprus without having to work (usually from €25,000 per year per person).

– Proof of a long-term lease or ownership of property in Cyprus.

– Pink Slip validity period is 1 year, renewable.

6.Advantages of Pink Slip:

– Ease of obtaining and minimal requirements.

– Ability to live in Cyprus with your family.

– Possibility of renewal without limitation on the period of stay.

Statistics show that Pink Slip is one of the most popular visas among Russian citizens, especially among pensioners and people leading an independent lifestyle.

7.Work Visa

For Russian citizens planning to work in Cyprus, a work visa is a mandatory document. Depending on the qualifications and type of activity, there are several types of work visas that allow you to legally work in the territory of the Republic of Cyprus.

8.Main types of work visas:

Highly Skilled Workers Visa:

• This visa is intended for highly qualified professionals in fields such as IT, engineering, finance, medicine and others.
• The main requirement is to have an employment contract with a Cypriot employer. The hiring company must confirm that the position could not be filled by a local candidate.
• The candidate must have a university degree and/or significant work experience in his/her field.
• The work visa is issued for the duration of the contract with the possibility of extension.

International Companies Employees Visa:

• This visa is for employees of companies registered in Cyprus, which are doing international business and wish to transfer their employees from other countries to Cyprus.
• The salary must fulfil the minimum requirements set for highly skilled workers, usually more than €2,500 per month
• The main requirement is to have an employment contract with the Cyprus branch or head office of an international company.
• The employer must be registered as an international company and must have a significant number of employees from different countries.
• The employee must be in a managerial position or have specific skills required by the company.
• The visa is usually granted for up to 2 years with the possibility of renewal.
• The BCS Visa entitles the spouse of the holder to also work in Cyprus.
• Accelerated Cypriot Citizenship after 4* years of residence on the island.

Seasonal Workers Visa:

• This visa is for seasonal workers in industries such as agriculture, tourism, hospitality and catering.
• The validity of the visa is limited to the season for which the employment contract was concluded (usually 3 to 6 months).
• The employer must provide proof of the need for seasonal workers and prove that the job cannot be performed by locals.
• A seasonal work visa cannot be extended on a permanent basis.

9.Basic conditions for obtaining a work visa:

• Labour Contract: Regardless of the type of work visa, the basic requirement is to have a valid employment contract with a Cypriot employer. This contract must be officially registered and confirmed by the Cypriot authorities.
• Compliance with qualification requirements: The employee must fulfil the requirements set for his/her profession. For highly qualified professionals, higher education and proven work experience are required, while for seasonal workers, the skills required to fulfil specific tasks are required.
• Proof of income: Depending on the type of visa, the employer must provide proof of a salary level that meets the minimum requirements for the particular category of workers.
• Accommodation: The employer or the employee must provide evidence of suitable accommodation in Cyprus. This can be either rented or own accommodation.

10.Advantages of a work visa:

• Legal employment: A work visa provides the opportunity to work legally in Cyprus, allowing access to the Cypriot labour market and economy.
• Social benefits: Work visa holders can enjoy all social benefits, including access to public services, health care and pensions.
  Permanent Residence: After several years of continuous residence and work in Cyprus (usually 5 to 7 years), work visa holders can apply for permanent residence.
• Wide choice of vacancies: Cyprus is actively developing in such sectors as IT, finance, tourism, which creates demand for qualified specialists. Russian citizens with work experience in these areas have a good chance of finding a suitable job.

12.Procedure for applying for a work visa:

• Find an employer in Cyprus who is ready to issue a labour contract.
• Collect the necessary documents: passport, employment contract, proof of qualification, proof of accommodation.
• Application: The employer must apply for a work visa on behalf of the employee to the Migration Department of Cyprus. An entry permit will be issued in the first instance and after arrival a visit to Immigration will be arranged to submit the application and take the biometrics
• Waiting for a decision: The application process can take between 1.5 and 3 months.
• Obtaining the visa: If the entry permit is approved, the worker can enter Cyprus and start working.
• Work visas are particularly popular among IT professionals and other highly skilled professions, as evidenced by the annual increase in the number of applications from nationals

Russia.Options Comparison

Immigration to Cyprus through a work visa, Permanent Residence through the purchase of real estate or a Pink Slip residence permit are promising options for Russian citizens wishing to live and work on this picturesque island. Each of these ways has its own peculiarities, advantages and requirements, which should be carefully considered when making a decision.

The specialists at Almanova Law https://almanovalaw.cy/ have many years of experience and in-depth knowledge of Cyprus immigration law. We offer comprehensive advice and support at every stage of the immigration process, from choosing the right programme and preparing documents to successfully obtaining a visa and completing all the necessary formalities. Contact us and we will help you to make your move to Cyprus as comfortable and safe as possible.