About Cyprus
Why Cyprus
Tax System
- Attractive tax regime: modern and low rates (e.g. corporate tax 12,5%).
- A huge network of Double Tax Treaties (circa 67 countries).
Legal and Regulatory Framework
- Robust regulatory structure, closely aligned to the English common law legal system.
- Strong protection for investment and Intellectual Property (IP).
Human Capital
- Access to talent, youngest population and workforce in the EU.
- 55% of the workforce has tertiary education (investcyprus.org.cy).
- More than 73% of Cypriots speak English (investcyprus.org.cy).
- Best island economy for 2019/2020 in terms of economy potential (fDi magazine).
High Quality of Life
- One of the best climates worldwide, ranked as the 5th best relocation destination worldwide by the latest Knight Frank Global Lifestyle Review (2013).
- Value Penguin, ranked Cyprus 5th safest country in the world (2015).
Key Features
Two Deep Sea Ports: Limassol & Larnaca
Two International Airports: Larnaca & Paphos
Currency: Euro(€) (since 2008)
Political System: Presidential Democratic Republic
Memberships: EU member (since2004)
Official Language: Greek
Population: 918,100
Cyprus Permanent Residency
In line with the Cypriot government’s intention to increase foreign investment and to help its economic development, Regulation 6(2) of the Aliens and Immigration Regulations has been simplified by the Ministry of Interior in order to issue residence permits to applicants from non-European countries who intend to invest in the republic.
INVESTMENT
Minimum Investment in Real Estate of EUR 300,000 (+ VAT). Investment should be in a new property.
PROCESSING TIME
2-3 months (or 18 months under a Category F application).
KEY BENEFIT
The right to live and study in Cyprus.
ELIGIBLE
It is granted to the applicant, the spouse, both their parents and dependent children up to the age of 25. Concerns non-EU citizens.
DURATION
Lifetime Residency. It is not necessary to reside in Cyprus, but a visit once every two years is required.
PROOF OF INCOME
Proof of income required to be at least €30,000 per year, with an additional €5,000 for every dependent.