Cyprus, along with other European Union member states, has tightened the criteria for non-EU citizens wishing to retire to their country in the wake of Brexit.

‘Taking back control’ was one of the well-known slogans used by Brexiteers. It claimed that Britain’s sovereignty, its ability to make its own laws and control its borders had been eroded by its membership of the EU and that these would return after Brexit.

Residency in Cyprus before Brexit (Category F persons)

Before the United Kingdom left the European Union, retired British nationals and others could be granted residency in Cyprus if they had an annual income of at least €9,568, without having to engage in any business, trade or profession in the Republic, plus at least a further €4,613 for every dependent.

Of course, ‘taking back control’ works both ways enabling EU member states to control their borders.

Short-term residency after Brexit

In January 2023, Cyprus revised the criteria by which retired British nationals and other non-EU citizens could extend their 90-day visitor’s visa for one year.

Following Brexit, they now require an annual income from abroad of at least €24,000 for a single person, plus at least a further €4,800 for their spouse.

(Other criteria include proof of a residence in Cyprus (rented or owned), private health insurance, a clear criminal record certificate from the country of origin or residence, negative blood tests for hepatitis B and C, HIV, syphilis and a chest X-ray for tuberculosis.)

According to the latest UK Government figures, the average retirement income for a retired British couple for financial year ending (FYE) in 2022 was £26,780 p.a. (approximately €31,500) and £12,428 p.a. (approximately €14,600) for a single retiree.

These revised financial criteria are going to shatter the dreams of many Britons who were planning to retire to Cyprus and many questions still need to be answered. E.g. will the residency of a surviving spouse be revoked if their annual income from abroad falls below the €24,000 minimum?

Expedited residency

As we reported last month, Cyprus revised the criteria revised criteria regarding the expedited process of granting immigration permits to third country nationals applying to invest in Cyprus. I.e. Investor Immigration Permits.

Residency in other EU members states post Brexit

It’s worth noting that other EU countries have raised the bar for Britons and other non-EU citizens wishing to retire to their country. For example:

• To be eligible for residency in Spain non-EU citizens require an annual income of 400% of IPREM (Indicador Público de Rentas de Efectos Múltiples) in your bank account. As the IPREM for 2023 is €600/month, an individual will need an annual income of €28,800 plus a further €7,200 (calculated at 100% of IPREM) for each dependent.
• To get temporary (2 year) residency in Greece an annual income of at least €24,000 is required plus a further €4,800 for the spouse and a further €3,600 for each child.