- Cyprus Facts
What are the benefits of living in Cyprus?
Besides a great location close to many EU countries, the “Jewel of the Mediterranean” offers untouched nature – from gorgeous beaches to majestic mountains, a vibrant history, and culture, excellent education and healthcare, as well as favorable tax and financial regulations.
Which districts are there in Cyprus? What are their top features?
There are five districts in Cyprus with unique features.
Paphos is a coastal district in the West of Cyprus. Crystal-clear blue beaches and lush forests await you. This district has a great infrastructure and lots of history and culture. Paphos is the birthplace of the goddess of love “Aphrodite”, also known as Venus. And on Cyprus’ many clear nights, you can perfectly see the planet Venus from Paphos.
Limassol district is located in the South-West of Cyprus. Limassol is the second-largest urban area in Cyprus after Nicosia and has an excellent quality of living rank. Foreigners, and Russians in particular, value Limassol’s city life and excellent culinary offers. The cost of living, especially rent, is above the Cypriot average. Despite this, you can find a house for sale in Limassol.
Larnaca is a coastal district in the South-East of Cyprus. It is known for its palm-tree seafront and historical buildings. There are over 100 educational institutions in the city, and many theaters and art galleries. Larnaca International Airport is the island’s primary airport. It is the island’s business hub and home to many expats, Germans in particular.
Nicosia district is located in the heart of Cyprus with no direct seaside access. It is the capital city of Cyprus and also the largest city on the island. It is a unique business and cultural hotspot and the last separated capital city in the world: Nicosia’s North is Turkish and the South of the city is Greek. Not to worry: both parts live together amicably now.
Famagusta is located in the East of Cyprus. It is home to Agia Napa, the resort and party city of Cyprus if you are looking for entertainment. At the same time, it is home to many historic buildings and some of the most beautiful beaches in the world with crystal-clear water and gorgeous sandy beaches.
How can I get permanent residency in Cyprus?
Cyprus is among the world’s favorite countries for investment immigration thanks to its EU-location, favorable business environment and relaxed lifestyle. The fast-track residency permit takes a little as two months and includes a property purchase in Cyprus.
Since 24 March 2021, there are even better conditions for the Cyprus Golden Visa. The bank deposit has been removed. And the real estate investment expanded: Investors can now choose from second-hand commercial properties (residential still must be first-hand/new) in addition to new projects by developers, which is a great advantage. The minimum real estate investment is 300,000 Euros and can be composed of one or several properties.
If you obtain residency under this program, you are not allowed to work in Cyprus (unless you are an expert hired by a local company with a work permit), but you can be the owner of a Cypriot company and receive dividends.
Is Cyprus business-friendly?
Cyprus is an international favorite for business set up, tax optimization and wealth management. The business environment is generally welcoming and open, the local workforce is well educated and English is widely spoken.
Besides its strategic location in Europe, Cyprus offers many monetary advantages for businesses. The corporate income tax rate is at a low 12.5%, and there is no withholding tax in Cyprus. Besides, the intellectual property tax is low as well.
Today, the rules for Cyprus tax residents under the so-called Non-Domicile or “Non-Dom” status are even more attractive (only 2 months in-country stay required instead of 6 months). Internationally generated income from interest and dividends, for example, dividends and gains from stock investment, is not taxable in Cyprus. This status is guaranteed for 17 years after approval.
What’s the best way to relocate or move to Cyprus?
Are there good real estate deals in Cyprus?
Cyprus is a popular destination for expats – from investors to entrepreneurs and from digital nomads to retirees. Property Experts Cyprus has the best properties for sale and for rent – whether you seek a house or a plot, an apartment or an office space. We connect you with the most attractive real estate in all districts of the island. Plus, we have got all high-end services around your home covered – from sustainable PV systems to alarms and video cameras.
Is healthcare in Cyprus affordable and good?
Cyprus offers high-quality healthcare, which is on par with international standards. Modern private hospitals and premium clinics are excellent facilities with state-of-the-art equipment. The official General Healthcare System is known as GeSY in Cyprus. It was updated in 2020. Now, Cypriot healthcare is free for all residents. Services include emergency and inpatient care. You can find more information on GeSY in our blog article.
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