Cyprus Permanent Residency entitles Non-EU citizens and qualifying dependants to enter and stay as permanent residents in Cyprus with no limitations. It does not expire; therefore, the holder does not need to renew it. It is also known as a Cyprus immigration permit or unlimited residency.
A holder of such a permit has no right to work but it allows the individual to do business in the Republic and receive dividend income instead. Additionally, the individual is eligible for Cyprus citizenship after five years of residing in the country.