Paphos People

New rules for permanent residency status, more in the pipeline

The latest Cabinet decision revising criteria for third country nationals who are investing in Cyprus comes in tandem with a slew of other measures the interior ministry wants to take as part of a changing migration policy.

Announced last week, Interior Minister Constantinos Ioannou said the changes were necessary “to eliminate weaknesses” in the existing criteria.

Coming into force on May 2, the new rules affect third country nationals who are naturalised as a result of investments they make into the country.

The minimum investment remains unchanged at €300,000 in property or in a company based in Cyprus employing at least five people.

A key change in the new rules is that applicants are required to prove on an annual basis that they have maintained their investment as well as meet the bar of a required income for themselves and their family.

The applicant must evidence an annual income of at least €50,000 per year, up from the current €30,000.

FULL Story here:- https://cyprus-mail.com/2023/04/30/new-rules-for-permanent-residency-status-more-in-the-pipeline/

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Dave
Moira And Dave

“I know that you believe you understand what you think I said, but I'm not sure you realize that what you heard is not what I meant.”

The sad thing is that they are cutting out people moving here who are good workers and many pensioners with money to retire ...but who can no longer fit these criteria

They are shooting themselves in the foot on this one ...let’s be honest uk expats and uk pensioners bring lots of money into the Cyprus economy

On the workers front...now shortages of good working staff in hospitality

Worrying times ahead for Cyprus

And for decent people wanting to move here

Cyprus certainly does not want this type of rules. It would be happier to get rid of the Africans and illegals. These rules and pints of pressure come from Washington, via the EU and are designed to rid Europe of the Russians and Chinese as part of the failing American system.

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Straight talking, no Gimmicks.

Live your dreams.

That, migmogs, is a direct consequence of Brexit. I, and other, Remainers warned from 2016 onwards that this would happen. But Brexiteers didn't want to know. They knew better. Our warnings were dismissed as scare-mongering.

But as sure as night follows day, the crows come home to roost. Just today I find that a printer cartridge supplier in the UK who we have bought from for the past eight years will no longer ship to Cyprus. Same with John Lewis, Superdry and many other retailers. It's more trouble than it's worth for them. Increasingly we now buy from European outlets, including Amazon DE. The UK's loss. And all down to the sheer stupidity of Brexit, brought about by Boris Johnson who saw it as an opportunity for him to assume his lifelong ambition of being 'Prime Minister'. What a price the UK has paid for this foolishness.

"Good workers" would still be able to come here from the UK if Boris Johnson and Nigel Farage had not lied to the people, and told them there would be no downside to Brexit. Ony sunlit uplands

It's not down to "honest uk expats and pensioners bringing lots of money to Cyprus", because the UK is now, simply, a third-world country. No more, no less. From personal experience I can tell you that Israeli emigrees bring ten times as much money to Cyprus as UK pensioners. But it's "what the people voted for" isn't it?

Brexit was destined to be a disaster from Day One... and so it has turned out to be. The UK is now at the bottom of G7 countries for forecast growth. Indeed the only G7 nation whose economy will shrink.

Worrying times for Cyprus? Worrying times for the UK, more like. Cyprus is forecast to be the 8th most successful economy in the EU this year.

The UK has been a basket case for a long time but papered over the cracks, the USA is even worse. Forward thinking countries see the New Order that is coming (assuming USA doesnt start a world war) and embrace it. Sadly the old monsters of the EU still want to be driven by the USA. Big mistake.

The new Cyprus rules essentially are trying to penalise the Chinese and Russian members it has been instructed to remove and create a high incoming income flow of non working ex pats. This will work fine until there is a recession and incoming incomes cannot be upheld.

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Straight talking, no Gimmicks.

Live your dreams.

One of the defining positives of the EU was always "freedom of movement" throughout the EU, for people and for goods.

So while the UK was in the EU, each and every one of us had the right to live, study, work, play and set up a business in any one, or more, of 26 EU States. Which is why I and wife moved to Cyprus unhindered, set up a business and to this day enjoy the life that Cyprus, or any other EU country, offers.

Because the notorious 52% (a.k.a. numbskulls) voted to make Brexit a reality, and the UK left the EU, that freedom of movement was taken away from ALL UK citizens. Our children and grandchildren are now denied the freedoms of movement which we enjoyed by virtue of being EU citizens.

And those same people who supported Brexit at the time (no names mentioned) now bleat that Brits are no longer allowed to move to Cyprus at will.

You voted for it...you own it. Too late to start crying over what has been lost. You got what you voted for.

But hopefully, now that many Brexiters have woken up to what has been lost, the tide will turn. We can but hope.

AH yes freedom of movement within the EU.

Thats why so many countries are now introducing border controls again to halt that said flow and the illegals it transports.

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Straight talking, no Gimmicks.

Live your dreams.

I also think that the WEF
Where absolutely upset and angry
When the uk decided to not go down their one rule route

A bit of an aside but amazon.de is a lot less desirable now as they only ship by courier, so it's only really viable for higher value items.

Next Direct . Com anything over 40 euros spent postage free using ACS couriers ....Marks and Spencer’s online /Cyprus postage free after 70 euros deliver with DHL ...George at Asda 25 euros postage .....Look Fantastic. Com ...free courier postage / or sometimes free post office for all of your expensive make up and perfumes etc ...Healthspan for vitamins and supplements ...free postage etc etc etc

To name a few and all send to Cyprus ...all taxes and duties paid in the uk no added costs

So no taxes or duties to pay here in Cyprus....many with free delivery!

We have stopped buying from amazon de postage costs where ridiculous

What a useful post. Might it be an idea for other members to add to it?

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Perfer et obdura; dolor hic tibi proderit olim.

Be patient and tough; some day this pain will be useful to you. (Ovid)

Just wondering what will happen to a couple that has MEU3 permanent residency and falls into terms of the Brexit Withdrawal Agreement?
The husband is the main person registered with Immigration and the wife is registered as his Dependent.
If the husband dies first, at some stage the widow will have to re-register with Immigration as her status has changed.

As an aside, I remember quite a few widows were affected when GESY was introduced in 2019.
Many had not updated their immigration status after their husband died and had to take out private medical insurance until they became eligible for GESY healthcare in their own right.

Hence my question about immigration as the income requirements have changed so much since Brexit.