CyprusFinancially independent residence permit

Residence permit for the financially independent in Cyprus

The Pink Slip is a temporary residence permit in Cyprus for foreign nationals who wish to live in the country on their own means, without taking up employment with a Cypriot employer. The programme is aimed at pensioners, investors, people living on rental income and remote workers with a stable income from abroad. The permit is renewed each year provided the conditions on income, insurance and presence in the country are still met. Working for Cypriot businesses is not allowed, but passive income from abroad is not prohibited. The applicant's spouse and minor children may obtain a permit alongside them, subject to additional proof of income.

Visa term

The Pink Slip is usually issued for 1 year (sometimes 1–2), renewed annually

Processing time

Usually 2–6 months

Work

Employment in Cyprus is not allowed; passive income only

Residence

Do not stay away for more than about 90 consecutive days or six months

Source: gov.cy — visitors and their family members

Who the programme suits

The Pink Slip is intended for nationals of countries outside the EU with a stable foreign income who wish to live in Cyprus for extended periods without formal employment.

Who applies most often

Pensioners with a stable foreign pension
Remote employees and freelancers with income earned abroad
Investors and rentiers living on dividends and interest

What this looks like in practice

A British national with a pension from the United Kingdom
A German working remotely for a company in Germany
A family living on investment income

Who else may qualify

Families with minor children
The applicant's spouse as a separate dependant
Those considering a permanent move to Cyprus

When the programme will not suit you

You are an EU national or a family member of one

Separate, simpler procedures apply to EU/EEA nationals — no financial guarantees or deposit are required

You are looking for a job with a Cypriot employer

Arrange a work permit through the employer — the Pink Slip does not give the right to take up employment in Cyprus

You have no stable, documented income from abroad

Consider other grounds for a residence permit — for example, through investment in property or a business

You plan to be away from Cyprus for long periods (more than three months in a row)

The Pink Slip is inconvenient for frequent long trips: after a long absence you will not be able to return on the permit and passport alone

What it costs

Fee for issuing or renewing the permitCharged on every submission — both on first application and on annual renewal.	70 EUR
Registration fee for the Aliens RegisterPaid once, only on first registration; not charged on renewal.	70 EUR
Deposit or transfer to a Cypriot account on first applicationAt least €10,000 by transfer or in cash from abroad — proof of financial standing on first application.	10 000 EUR
Minimum balance in the account on renewalOn annual renewal no new deposit is required — it is enough for the account balance to be no lower than €6,000.	6 000 EUR
Total government feesThe sum of the mandatory rows in the table. the “Minimum balance in the account on renewal” branch replaces the “Deposit or transfer to a Cypriot account on first application” line — 6 140 EUR. Charges with no official price list are in the list below.	10 140 EUR

Paid separately

Renting or buying accommodation — A supporting document is required (a tenancy agreement or title deed), but the cost of the housing itself is not part of the programme's government fees.
Certified translation of documents — Paid separately to the translator or notary; not included in the government fee.

Documents to gather

Documents are submitted together with application form MVIS8 at the Migration Department's application acceptance office. Anything not in Greek or English must be officially translated and certified.

A passport valid for at least three months from the date of application
A completed MVIS8 application form
Proof of stable income from abroad: salary, pension, deposits, rent, dividends or interest
A bank statement — from the date the account was opened (on first application) or for the last 12 months (on renewal)
An original criminal-record certificate from the country of origin or residence, officially translated and certified (first application only)
Medical test results: hepatitis B and C, HIV, syphilis and a chest X-ray (first application only)
A plan A health insurance policy covering in-patient and out-patient treatment and repatriation of remains
A housing document: title deed, a certified tenancy agreement or a declaration by the host
A repatriation bank guarantee valid for at least 10 years (if required for your nationality)
A declaration of the number of dependants and a consolidated declaration of income (if family members are applying)
A marriage certificate, certified and translated (if there is a spouse)
Children's birth certificates (if there are minor dependants)

How the process runs

The application process goes through several stages, from preparing documents to receiving the permit. You may remain in Cyprus while the application is under consideration.

1
Collecting documents and proving income
Gather your passport (valid for at least three months from the date of application), evidence of stable income from abroad — salary, pension, dividends, interest or rent — and a criminal-record certificate. Translate and certify any document that is not in Greek or English.
2
Transferring funds and opening an account with a Cypriot bank
Transfer or deposit at least €10,000 into an account with a Cypriot bank — this proves financial standing on first application. You will need a bank statement running from the date the account was opened.
3
Arranging the repatriation bank guarantee (if required for your nationality)
Most nationals from outside the EU/EEA, the United Kingdom and Switzerland need a bank guarantee valid for at least ten years; the amount depends on the country of origin and ranges from €350 to €850. EU/EEA, UK and Swiss nationals are exempt from the guarantee.
4
Submitting form MVIS8 and giving biometrics
Submit the MVIS8 application form with the document pack at the application acceptance office and pay the fees (€70 for issuing the permit and, on first application, a further €70 for registration in the Aliens Register). Biometric data — a photograph and fingerprints — are taken at submission; for children under six, a photograph only.
5
Consideration of the application by the Migration Department
usually up to four months
The Migration Department normally considers the application within four months, provided the documents submitted are sufficient. You may remain in Cyprus while it is under consideration.
6
Receiving the decision and the permit
If approved, you will receive a letter explaining how to collect the permit (the Pink Slip). If refused, you will receive a letter setting out the reasons.
7
Annual renewal
no later than one month before expiry
Apply for renewal at least one month before the current permit expires. You will need proof of income by way of a bank statement for the last 12 months, an account balance of at least €6,000 and valid health insurance. The medical examination does not have to be repeated — it is required only on first application. If the bank guarantee is still valid and covers the period applied for plus a year, a new one is not required.

Who you can bring with you

A permit can be obtained for the family, but each family member has their own application category and their own permit.

Spouse

The income required of the main applicant increases by 20% of the base threshold of €24,000 — that is, by €4,800 a year. The spouse applies under a separate category (Dependent Spouse) and receives their own permit.

Children under 18

For each minor child the required income increases by 15% of the base threshold — €3,600 a year per child, cumulatively for each further child. Birth certificates are required; the child receives a separate permit under the Dependent Minor Child category.

Adult children and other adult relatives

Under the Migration Department's official list of categories, adult dependants (direct relatives in the ascending or descending line) are provided for only for holders of a permanent Immigration Permit, not a temporary Visitor permit. An adult family member of a Pink Slip applicant must apply in their own right and meet the programme's requirements on the general basis.

Renewal and the grace period

The permit is issued for one year and is renewed annually provided the conditions are still met. The renewal application must be submitted at least one month before the current permit expires. The financial threshold does not change: at least €24,000 of annual foreign income for the main applicant (plus 20% for a spouse and 15% for each child), evidenced by a bank statement for the last 12 months. The balance in the Cypriot account on renewal must be at least €6,000 — a new €10,000 deposit is not required. No medical examination is required on renewal; it is needed only on first application. The €70 registration fee is paid once; on renewal only the fee for issuing/renewing the permit (€70) is charged. If the bank guarantee is still valid and covers the period applied for plus a year, a new one need not be submitted.

How it differs from the routes next to it

The comparison is built from the official terms of the routes themselves — the source links sit on their own pages.

	Residence permit for the financially independent	Permanent residence by investment	FIC work residence permit
Visa term	The Pink Slip is usually issued for 1 year (sometimes 1–2), renewed annually	Permanent residence with no annual renewal; card replaced every 10 years	The permit and residence permit are usually for 1–2 years, renewable while the job continues
Grounds	No right to work	Property from €300,000	Employees of international companies
Work	Employment in Cyprus is not allowed; passive income only	Passive income; employment is not desirable, business/dividends are allowed	Full employment with the FIC; a change of employer means a new procedure
Residence	Do not stay away for more than about 90 consecutive days or six months	Must not be absent for more than 2 consecutive years	No more than 90 days of absence a year; 183 days for tax purposes

What comes next: permanent residence and citizenship

Route to permanent residence

No direct fast track to permanent residence; the years spent do count

Route to citizenship

Citizenship through naturalisation after about 7 years

Frequently asked questions about Residence permit for the financially independent

Can you work while holding a Pink Slip?

No — the Migration Department states expressly that a visitor's permit does not give the right to take up employment in Cyprus. At the same time, salary, pension, dividends, interest and rental payments from abroad are accepted as proof of income, so foreign income, including passive income, is permitted. Whether you may work remotely for a foreign company while in Cyprus is not explained separately on gov.cy — on that point it is worth consulting an immigration lawyer.

How long does the application take to consider?

Usually up to four months from submission of the complete document pack, provided the information supplied is sufficient for a decision.

How long can you be away from Cyprus without losing the ability to return on the permit?

To return to Cyprus simply by presenting the permit and passport, the absence must not exceed three consecutive months. A different entry procedure applies for longer absences.

Is a bank guarantee required of every applicant?

No. Under the official table of amounts, both the requirement and the amount depend on nationality: EU/EEA, UK and Swiss nationals are exempt from the guarantee; for nationals of the Gulf states, Turkey, Egypt, Israel, Iran, Iraq and Afghanistan it is €350; for other European countries outside the EU, including Russia, Ukraine and Belarus, it is €550; for most other countries in the world, including Thailand, it is €850. The guarantee is valid for at least ten years.

Which family members can obtain a permit alongside the applicant?

The spouse and minor children — each under a separate category, with their own permit and an increment to the required income (20% for a spouse, 15% per child). Adult children and other adult relatives are not automatically included: the corresponding category is provided for only for the family of holders of a permanent Immigration Permit, not a temporary Visitor permit.

Does the Pink Slip confer tax residence in Cyprus?

No, the permit in itself does not confer tax residence. Tax residence is determined separately: under the general rule, by staying in Cyprus for more than 183 days in the tax year; or under the alternative 60-day rule — if you spent between 60 and 183 days in Cyprus, rent or own accommodation in Cyprus, are not considered tax resident anywhere else, and as at 31 December carry on a business, are employed or hold an office in Cyprus.

Other ways to move to Cyprus

Every route in one list — migration programmes: Cyprus.

The terms and the amounts are checked against official sources — the link sits under each section.Last checked on: 7 August 2026.