Cyprus is the third largest island in the Mediterranean, with an area of 9,251 km2 and a population more than 850k people.
Cyprus has been a member state of the EU since 2004 and a member of the Eurozone since 2008. The strategic position of the island helps to attract over 2.5 million tourists from all over the world each year, making tourism the main industry. In recent years the island has also become a significant hub for financial services, law and international shipping and offers countless investment opportunities. With the discovery of gas fields located off the island’s southern coast, the importance of the island continues to increase.
Cyprus is therefore a very diverse and cosmopolitan place to live in (about 1/4 of the population are non-Cypriots).
Eurostat data show that Cyprus has the lowest reported crime rate in the European Union.
Cyprus is the sunniest country in Europe with over 340 days of sun annually.
According to the European Environmental Agency, Cyprus also has the cleanest beaches in Europe.
Non-Cypriot investors may acquire Cyprus citizenship if they invest between €2 and €2.5 million and fulfil other conditions such as a clean criminal record.
The investor and his/her family obtain a Cyprus passport, which includes the full rights of an EU citizen (i.e. freedom of travel, residence and investment in any EU country).
Non-Cypriot investors, who purchase property in Cyprus of at least €300,000 and have a secure and steady annual income transferred on a regular basis from abroad, are entitled to apply for permanent residence.
The relevant permit grants investors and their families visa free travel to Cyprus and the right of residence. It gives investors the opportunity for a second base in Europe. Granted for life, this permit includes spouses, under age children and adult dependent children up to 25 years old and parents of the investor/spouse.
Cyprus has a good reputation for delicious and varied food in Europe.
You can enjoy fresh and tasty strawberries, apricots, watermelons, cherries, grapes, figs, dates, pomegranate and even passion fruit – almost during all year.
As a small island, Cyprus distances are relatively short.
You can travel from one city to other even in 30-40 minutes while the longest distance might be around to 1.5 hours by car.
A low corporate tax rate of 12.5% and double tax treaties with over 48 countries makes the tax system in Cyprus very attractive.
The island’s effective and transparent tax system is fully compliant with EU laws and regulations. In addition to this, royalties, dividends and profits from overseas permanent establishments are all exempt from tax, which gives investors an economical advantage on their overseas ventures.
Recent amendments to individual tax and property tax have also made the tax system more favorable for both residents and investors.