The Temporary Residence Permit, or Pink Slip, is available to third-country nationals (non-EU/EEA) who wish to extend their stay in Cyprus without engaging in employment.

Key Features:

• Issued for 1 year, renewable annually.
• Permits extended legal stay without employment rights in Cyprus.
• Family members (spouse and dependent children) may be included in the application.
• Residence must be continuous—leaving Cyprus for more than 90 consecutive days voids the permit.

Financial & Legal Requirements

To qualify, applicants must demonstrate financial self-sufficiency and meet specific documentation requirements:

• Minimum annual income:
• €24,000 for a single applicant.
• +€4,800 for a spouse.
• +€3,600 per dependent child.
• Proof of income source from abroad is mandatory, typically supported by foreign bank statements and remittance records.
• Transfer of Funds to Cyprus:
• First-time applicants must transfer at least €10,000 into a Cypriot bank account.
• Bank Guarantee to cover the repatriation costs:
• A refundable deposit with a Cypriot bank (typically €550–€850) is required, varying by country of origin.

Bank Account Requirement and Practical Challenges

A Cypriot bank account is a mandatory requirement for obtaining the Pink Slip, as authorities require proof of local funds and ongoing financial support from abroad (alternatively, submission of an application for work or digital nomad, does not require existence of the Cyprus bank account).

While the Pink Slip itself is not difficult to obtain for eligible applicants, opening a bank account in Cyprus can present challenges, particularly due to enhanced compliance procedures imposed on local banks. These procedures include:

• Approval of incoming foreign transfers by the bank’s compliance department.
• Detailed due diligence on the source of funds and the applicant's financial profile.
• Delays or difficulties in cases involving countries subject to international sanctions.

Our firm regularly assists clients with the preparation of documentation for both the Pink Slip application and the opening of a local bank account. We provide this support provided that a formal residence application will be submitted to the Migration Department, and we coordinate closely with local banks to navigate compliance requirements.

Additional Documentation

Applicants must also provide:

• Valid health insurance covering the entire stay.
• Medical tests in Cyprus (HIV, Hepatitis B/C, syphilis, chest X-ray for tuberculosis).
• Criminal record certificate (original), certified and officially translated.
• Proof of accommodation (rental agreement or title deed).
• Passport and an application fee (€70 per applicant + €70 for alien registration, if applicable).
• Other documents

Renewal & Long-Term Options

• Renewal requires proof of foreign remittances totaling at least €24,000 in the previous 12 months and a bank balance of at least €6,000 in Cyprus.
• After 5 years of continuous legal residence, applicants may apply for long-term resident status.

Citizenship may be pursued under Cyprus naturalisation laws after completing seven years of legal residence within the last ten years, including one year of continuous residence immediately preceding the application.

How We Can Help

Our immigration team provides end-to-end support for individuals and families applying for the Temporary Residence Permit in Cyprus. From preparing your application to assisting with banking and compliance matters, we help ensure your relocation process is smooth and legally secure.

Contact us for a confidential consultation to begin your application process.