Relocation to Cyprus — Pink Slip

This method of relocation can be considered one of the simplest, with a few exceptions. The Pink Slip or temporary residence permit allows you to legally reside on the island for one year. The main criteria for obtaining this type of residence permit are a lease agreement for an apartment and income confirmed by bank statements. The difficulty lies in the fact that such a residence permit does not grant the right to work in the Republic of Cyprus, so the income must come from outside the country. Additionally, this residence permit is only available to citizens of countries not in the EU.

You can apply for a Pink Slip with any type of initial visa. In other words, the key here is to enter the island legally. The document package for this type of residence permit includes:

✅ Copy of your passport
✅ Visitor’s statement MVIS3
✅ Lease agreement for at least one year, certified by the Tax Inspection stamp, or a document confirming that you own property in Cyprus
✅ Bank statement confirming income from abroad. However, here’s the catch: the account must be opened in a Cypriot bank, which has become more challenging recently. Russians should consider Eurobank Cyprus and Bank of Cyprus, where it is still possible to open an account for a Pink Slip. The deposit amount for one applicant is €10,000.
✅ Bank guarantee (one for each family member). For Eastern European residents, this is €550 per person.
✅ International health insurance. The average cost is approximately €200 per person.
✅ Documents confirming stable income from abroad. For example, employment, pension, rental income, and so on. The annual amount must be €10,000 per applicant.
✅ Marriage and birth certificates (if applicable). If the children are old enough, proof of their enrollment in school is also required.

All documents need to be translated into English and apostilled, and then certified by the Ministry of Foreign Affairs and the Embassy of the Republic of Cyprus in your country. Additionally, you will need to pay fees. The cost of the initial application or renewal is €135.

It’s important to note that while the Pink Slip does not grant the right to work in Cyprus, the holder of this type of residence permit has the opportunity to set up their own company on the island. More details on this will be provided in one of our upcoming free webinars.

🏝️In the future, we will provide more detailed information on other relocation methods and current changes, so stay tuned for updates!