Cyprus is a beautiful island located in the eastern Mediterranean Sea. It is a popular tourist destination known for its stunning beaches, friendly people, and Mediterranean climate.
There are many reasons why people seek to obtain permanent residency in Cyprus. The most common reason is to enjoy the Mediterranean lifestyle that the island offers. Others seek to take advantage of the low taxation regime, while others simply want to be closer to family and friends who have already made the move.
CYPRUS INVESTMENT PROGRAM
Whatever your reasons for seeking permanent residency in Cyprus, the investment in property route is undoubtedly the most popular and straightforward way of achieving this.
Under the terms of the program, non-EU nationals can obtain a Cyprus permanent residency permit by investing in a new property with a purchase price of minimum euro300,000 or more.
Let’s look at some of the key benefits of acquiring a cyprus permanent residency via investment.
One of the key attractions of Cyprus for many retirees and high-net-worth individuals is the low taxation regime. Cyprus has 0% tax on dividends, 0 % tax on rentals income from abroad, and 0% inheritance tax.
Cypriot residents are only taxed on their income that is derived from sources within Cyprus. This means that if you receive rental income from abroad or dividends from foreign investments, you will not be liable for any tax in Cyprus.
In addition, there are a number of double taxation agreements in place, which mean that income from abroad is not taxed twice. For example, if you’re a UK resident and you earn rental income from a property in Cyprus, you will only be taxed on that income in Cyprus. You will not have to pay UK tax on the same income
Also, there is no inheritance tax in Cyprus. This is significant for those who wish to pass on their wealth to future generations. Your heirs will not have to pay any tax on the inheritance they receive from you.
CYPRUS PERMANENT RESIDENCY THROUGH INVESTMENT
An Attractive Lifestyle
Cyprus is a beautiful island with a Mediterranean climate, stunning beaches, and friendly locals. It’s no wonder that so many people are drawn to the island each year.
With permanent residency, you can enjoy all that Cyprus has to offer on a long-term basis. You’ll have the freedom to live, work, and study on the island, and you’ll be able to take advantage of the low cost of living.
There’s no doubt that Cyprus is an attractive place to live. If you’re looking for a place to enjoy the Mediterranean lifestyle, then Cyprus is a perfect choice.
A Safe And Stable Country
Cyprus is the 5th safest country in the world compared to countries with under 5m population, with one of the lowest lowest crime rates in Europe.
What’s more, Cyprus is a full member of the European Union and the Eurozone. This means that it is subject to strict financial regulations, making it a safe place to invest your money.
Access To High Education Through British Schools With Base In Cyprus
The high-quality education system in Cyprus is another key attraction for many families. There are many British schools on the island which offer an international curriculum. This means that your children can get a world-class education without leaving Cyprus.
A Fast And Easy Process
The process of obtaining a permanent residency in Cyprus via the investment in property route is fast and easy. You can obtain residency within 2-3 months of purchasing a property. The good news is, there are no restrictions on the type or size of the property, as long as the property is new (not resale) however, the minimum investment amount is euro;300,000.
The application process is simple and straightforward. You only need to submit several documents, including your passport, proof of property purchase, and a clean criminal record. There are no language requirements, and you do not need to take a residency test.
Once your application is approved, you will be issued a residency permit. This permit is not renewable because it is permanent and for life, as long as you own the property. Once the residency has been granted you should not be absent for more than 2 years.
With permanent residency, you can get a One-year Schengen visa in any European embassy in Nicosia. What’s more, once you have lived in Cyprus for five years (a total of 1825 days of legal stay), you will be eligible to apply for citizenship through neutralization, allowing you to live, work, and travel anywhere in the EU without any restrictions.
Permanent Residency For The Entire Family
Another great benefit of the Cyprus Permanent Residency program is that it grants residency to your entire family. This includes your spouse and dependent children under the age of 25. Your parents and parents-in-law can also get PR without buying additional property. You only need to show an additional annual income of euro 8,000 for every parent
This is a significant benefit for families who want to move to Cyprus together. It means that you can all enjoy the same rights and privileges without having to go through the residency application process individually.
The Bottom Line
Cyprus offers many benefits to its citizens. And, with Cyprus permanent residency via investment, you can enjoy all that the island has to offer on a long-term basis.
As a holder of Permanent Residency in Cyprus, you will enjoy all the same rights as a Cypriot citizen. This includes the right to live, work, study on the island.
What’s more, you’ll be able to take advantage of the island’s low cost of living and enjoy its Mediterranean lifestyle. If you’re looking for a place to call home, then Cyprus is an excellent choice.
The process of obtaining a permanent Residency in Cyprus via the investment in property route is fast and easy, and the process is pretty much hassle-free.
If you’re interested in obtaining a permanent Residency in Cyprus via property investment, we can help. We are a leading bespoke property developer in Cyprus, with a wide range of qualified luxury properties available for purchase in some of the island’s most sought-after locations.
We can guide you through the process and help you find the perfect property in Cyprus to suit your needs and budget. Contact us today to learn more about our services and how we can help you obtain a permanent residency in Cyprus.