Cyprus
Cyprus, the pearl of the Mediterranean Sea is of the hot spots for tourists and foreign investors. The highest quality of life, the laid-back lifestyle and the highest number of sunny hours in Europe attracts applicants from all over the world.
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Population
1.18m
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Surface Area
9,251km2
The highest quality of life, the laid-back lifestyle and the highest number of sunny hours in Europe attracts applicants from all over the world.
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Largest City
Nicosia
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Official Language
Greek and Turkish
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Currency
Euro
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Climate
Mediterranean
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GDP Per Capita
25,233
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Capital
Nicosia
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Religion
Greek Orthodox
- Visa-Free travel to
The Republic of Cyprus is a unitary presidential representative republic, whereby the President of Cyprus is both head of state and head of government. Next elections: 2023
Cyprus legal system is based on the English Common Law.
Advantages of Cyprus Residency
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You become a permanent resident of an EU Member State after Cyprus joins the Schengen zone
You can travel and stay in other European countries only using your Cypriot ID card.
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Family members also receive permanent resident status.
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Under the real estate purchase option, you can become a resident without becoming a tax resident in Cyprus, and you do not have to reside in the country physically.
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As a permanent resident of Cyprus, you can become a citizen later.
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Cyprus is one of the last low-tax jurisdictions of the European Union.
Cypriot residents can enjoy various tax incentives after staying 183 days annually.
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The process of becoming a Cypriot resident takes only two months.
Contribution to the state option
- The minimum amount of investment in real estate is 300,000 euros. The investor can buy the property only from a developer on the primary market and can pay only with funds arriving outside of Cyprus.
- The applicant must prove of an annual offshore (not from Cyprus) income of 30,000 euros. When the primary applicant applies together with the family members, he or she must add 5000 euros more per family member to the annual income. In the case of financially dependent parents, the additional amount is 8,000 euros per person.
- The investor must also deposit 30,000 euros in a local bank in Cyprus for three years.
What can you purchase for the Cypriot permanent residence permit?
- One piece of residential property
- Two pieces (apartments or houses) of residential real estate
- Commercial space (max 100m2) plus residential property
- Office space (up to 250m2) and residential real estate
- Copy of passport
- Curriculum Vitae
- Letter from a bank in Cyprus (Bank, Coop) of a deposit of €30.000
- Declaration of an annual income from abroad of €30.000
- Title of ownership or contract of sale of a built real estate in Cyprus
- Official Statement by the applicant and his/her spouse that he/she does not intend to work in Cyprus.
- Health Insurance Policy for all applicants
- Criminal Record Certificate
- Marriage Certificate
- Children’s Birth Certificate
