Cyprus
Cyprus is an island situated in the Mediterranean Sea, known for its tranquil beauty with an array of sandy beaches and expanse of rugged mountain peaks. Along with their membership in the European Union, the strategic location of the island has played an important role in establishing Cyprus as a business hub.
Adding to this, Cyprus has an efficient and comprehensive tax system that offers expatriates a beneficial tax environment for income, investments and pensions. It’s the ideal place to stay, if you’re looking for an exotic island that offers the stability of being inside the EU.
Coupled with its low cost of living, one of the top reasons for staying in Cyprus besides the financial benefits is its incredible weather. Warm summer months and mild winters can be enjoyed in its lush diverse landscapes. The weather is complimented by its family-oriented lifestyle, that can be enjoyed in a safe environment with one of the lowest crime rates in Europe.
Cypriot hospitality is legendary. The island is known for being home to some of the world’s friendliest people, and you will face no language barriers because English is widely spoken.
With its robust infrastructure and high standard of health care, this beautiful island, with its modern international airports and excellent educational institutions, is the perfect place to live.
Idyllic environment
Crystal clear sea with Blue Flag beaches, Cyprus also has extensive forests with scenic nature trails nestled in the mountains. Executive hotels, spas and golf courses dot the terrain and offer entertainment and relaxation in every quarter.
Safety and Security
Cyprus was recently voted the 5th safest country in which to live and has one of the lowest crime rates in Europe.
Weather
A mediterranean climate with warm summers and mild winters. The island experiences close to 340 days of golden sunshine every year.
Quality of life
Compared to the UK and other locations in Europe, the cost of living in Cyprus is extremely low, affording all residents a high quality of life in a family friendly environment.
Easy Travel
With Cyprus having recently applied for membership of the Schengen Zone, permanent residency holders can hopefully soon apply for a multi-entry Schengen visa valid from 6 months to 5 years. (Subject to certain conditions which are dependent upon the passport held and frequency of travel).
Country information
- Total Population 1.2 million
- Total Area 9,251 km2
- Capital Nicosia
- Currency Euro (EUR)
- Time zone EET (UTC+2) Summer (DST) EEST (UTC+3)
- Coastline 648km Cleanest bathing water in Europe (European Environment Agency)
There are six beautiful cities in Cyprus, each one of them serving as the capital of the six districts of Cyprus.
Each of these cities has its own unique character and despite its small size, Cyprus is known for its vastly ranging diversity.
At a glance
Warm Climate
Mild Winters
Stable Economy
Excellent Education
Excellent Health Care
Low Crime Rate
Historically and culturally rich society
One of the lowest Taxation Rates in Europe
Member of the EU
Two International Airports
- Known for its golden sandy beaches
- The island is dotted with gorgeous harbours attracting visitors all year round
- Protected Natural Parks such as the Akamas, home to many rare, endemic species of flora and fauna.
- A wealth of historical and archaeological sites dating back to the 4th century BC.
- Exquisite cosmopolitan cities
- Coastline 648km Cleanest bathing water in Europe (European Environment Agency)
A wealth of historical and archaeological sites dating
back to the 4th century BC.
The remains of tombs, ancient palaces and fortresses have given Cyprus the status of a UNESCO World Heritage Site.
Permanent Residency Programme
- Cyprus offers two routes to residency - Fast Track (Category 6.2) and Category F
Option 1
No pre-defined investment value requirement.
- No pre-defined investment value requirement
- Category F requires the purchase of a residential property, newly developed or second hand, for a significantly lower purchase price at market value.
- It offers a slower process but still entitles the investor to include their spouse and children.
- A minimum cash deposit of €30,000 must be kept in your own bank account for at least 3 years from the date of deposit.
Option 2 Fast Track (Category 6.2) - Purchase a new residential or commercial property of at least €300,000.
- Fast track offers a swift route to residency.
- A larger financial commitment in real estate is required but this provides the opportunity for the investor to include their spouse and minor children as well as their parents and parents-in-law in their application.
- In addition, a Category 6.2 permit holder is entitled to become a business owner and operate in Cyprus, holding 100% shares on the provison they are not an employee or Director.
Programme Benefits
Government tax incentive of 50% reduction in property transfer fees
Pensions attract a flat 5% tax rate for residents
Zero inheritance tax
Stable legal and tax environment (based on Anglo-Saxon law)
High-quality and reliable national health care system - 'GESY'
Excellent Public and Private Education
English is widely spoken
Ideal geostrategic location
Programme Criteria
- The applicant and dependants included in the application must have no criminal record and be in good health.
- Suitable medical insurance must be acquired for the applicant and dependants.
- Ownership of the residential property, or properties, must be retained during the period of residency.
