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  • Europe
  • Country Flag: Spain - Investment Visa
  • Type: Residency by Investment
  • Investment: EUR €500,000
  • Duration : 3 to 6 months
  • Benefits: The Spain RBI program offers applicants visa-free travel in the Schengen Area along with access to public healthcare and education, plus eligibility for family inclusion.

Why move to the Cyprus?

Between golden-sanded beaches and crystal-clear waters, Cyprus has more to offer than stunning sights and sun-soaked natural destinations. Its history proves an intricate tapestry woven throughout the millennia by the Greeks and the Turks, creating an utterly unique landscape undeniably shaped by these influences. If you combine these with the Mediterranean’s relaxed lifestyle, Cyprus’ strategic location, and stable investment-driven economic scenarios, the country has all the necessary ingredients for the perfect recipe: long-term, healthy, and successful endeavors on all fronts. It only needs you to move to Cyprus and mix them all together.

Why move to Cyprus
Cyprus Fast Facts

Fast facts

Cyprus is the ideal destination for wine enthusiasts, as the island boasts the oldest production of wine known to mankind, the Commandaria. King Richard the Lionheart declared it "the king of wines and the wine of kings" during his marriage ceremony in Cyprus. Curiously, this makes Cyprus the only foreign country to host an English Royal Wedding.

Mark Anthony, a legendary Roman figure, once gifted the entire island of Cyprus to his lover, Cleopatra.

Cyprus continues to impress with its presence in the annals of history. In 2007, a team of Italian archaeologists unearthed the oldest perfumery, revealing perfumes in small bottles and evidence that perfumes had been produced on an industrial scale as far back as 4000 years, in the Bronze Age.

Cyprus Country Map

  • Population: 1,26 million
  • Capital City: Nicosia
  • Climate: Cyprus boasts a Mediterranean climate, known best for warm summers and mild winters.
  • Time Zone: EET (Eastern European Standard Time)
  • Language: Greek, Turkish
  • Country Code: +357
  • Currency: EURO
  • Economy: Tourism, financial services, manufacturing, agriculture
  • GDP Per/Cap: USD $32,281
  • Borders: Maritime borders with Egypt, Greece, Türkiye, Lebanon, Syria

Lifestyle

With an average of more than 3000 hours of sunlight every year, the sun is your constant companion in Cyprus. Take a step back and plunge into a world of relaxation, only possible in countries bathed by the Mediterranean.

Why move to Cyprus
Cost of Living - Cyprus

Cost of living

Cyprus is one of the most affordable European Union countries, providing a high quality of life experience at a budget-friendly cost. Daily expenses are set at reasonable prices, and Cyprus manages to strike a fine balance between a comfortable life and financial management.

Safety in Cyprus

Safety

As a country in the European Union, Cyprus boasts high standards of security and low crime rates. The local communities are friendly, contributing to a safe and welcoming environment.

Cyprus Healthcare

Healthcare

Boasting a universal public healthcare system, the infrastructure in Cyprus is still young, as the service was only established in 2017. It is advisable to pursue private medical insurance when moving to Cyprus.

Cyprus - Education

Education

Cyprus has a free public education system, mandatory between the ages of 5 and 15. There are state-funded institutions of higher education, as well as a parallel system. With plenty of options between private and international schools, Cyprus provides a solid foundation for expat families.

Cyprus Language

Language

Greek and Turkish are the officially recognized languages in Cyprus, though local communities tend to speak English fluently, allowing for an easier and seamless integration.

Cyprus Currency

Money and taxes

Being part of the Eurozone, Cyprus has a stable economic scenario, and its official currency is the EURO. Offering an overall favorable tax regime, with one of the lowest corporate tax rates in Europe, Cyprus crafts a healthy foundation for those looking to invest or retire in this Mediterranean paradise.

Popular Destinations

Popular Destinations

When it comes to Cypriot destinations, there are no wrong decisions. All its cities are international hubs that provide unique experiences, with thriving expat communities and vibrant, thriving social scenes. Fully immerse yourself in the Cypriot and Mediterranean lifestyle by moving and discovering any of the following.

Nicosia
Nicosia
Larnaka
Larnaka
Famagusta
Famagusta
Paphos
Paphos
Limassol
Limassol
Ayia Napa
Ayia Napa

 

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Do I Need a Visa to Move to Cyprus?

It depends on your country of origin. If you hail from a country within the European Union, a visa will not be necessary to move to Cyprus. However, if you are a third-country national, a visa will be required to relocate to Cyprus. The best way to achieve this is through the Cyprus Golden Visa, an investment immigration program that bestows Residency status to the applicant.

Moving to Cyprus as an EU Citizen

Since Cyprus is a part of the European Union, it adheres to the principles of freedom of movement of people, capital, goods, and services. EU Citizens can freely travel to and visit Cyprus without acquiring a visa. However, if their stay extends past 90 days, whether for residency, tourism, study, or work, the EU citizen must report to the Civil Registry and Migration Department and apply for the Registration Certificate for EU nationals, colloquially known as the yellow slip.

Moving to Cyprus as a non-EU citizen

If you aim to relocate to Cyprus and if you are a third-country national, you will need a visa. Out of all the visas the country has available, the Cyprus Golden Visa is the best. Venturing through this program allows you to become a Permanent Resident in as little as 3 to 6 months, live, work, and study in Cyprus, access the Cypriot healthcare system, and enjoy a country boasting a Mediterranean lifestyle. You can also extend the same benefits to your family.

Moving to Cyprus Through Investment Visa Programs

The Cyprus Golden Visa is the country’s premier investment visa immigration program, granting legal status and all the associated benefits. With a minimum investment of €300,000 in the country’s Real Estate market qualifying as an option, the proposition becomes far too enticing. Whether you are seeking Cyprus to establish a second residency abroad for a Plan B or looking to diversify your investment portfolio, the Cyprus Golden Visa represents a beneficial choice for you and your family.

How can I gain Citizenship in Cyprus?

How to obtain Permanent Residency in Cyprus?

Cyprus used to have two Golden Visas programs, one dedicated to those seeking Citizenship, and another to Permanent Residency. The former was discontinued in 2020 but the latter remains the country’s only Golden Visa program. Currently, the only way to obtain Citizenship in Cyprus is simply by waiting. After 7 years, most Cypriot legal residents can apply for Citizenship. However, for Cyprus Golden Visa holders, the process fast-tracks to 5 years.

After five years of living and residing legally and continuously in Cyprus, an applicant becomes eligible for Permanent Residency status in the country. Due to the time-consuming nature of this process, it may not be a viable option for many. A solution arises in the form of the Cyprus Golden Visa, where property investment qualifies as a way of obtaining Permanent Residency status in as little as 3 to 6 months.

Investing in Cyprus Real Estate

Investing in Cyprus Real Estate

The Cyprus Golden Visa offers a sizeable number of options, allowing individuals to choose the most suitable for them. The minimum investment amount for all the options is €300,000 and this applies to the share capital in Cypriot companies based and operating in Cyprus or to units in the Cyprus Investment Organization Collective Investments. The investment can also be applied in Real Estate, which emerges as the best option. Residential and commercial properties qualify for the Cyprus Golden Visa, which is ideal for diversification purposes. If the individual selects the purchase of residential Real Estate, it must be a house or an apartment's first sale from a development company. This restriction does not apply to commercial Real Estate, such as shops, hotels, and offices, as it may come from a resale.

Frequently Asked Questions

Moving to a foreign country implies a lifestyle change. Cyprus will be no different, promising sun-drenched days, savory cuisine, warm hospitality by local communities, and stunning vistas, ranging from white-sanded beaches to breathtaking mountains. Not to mention, Cyprus boasts high levels of safety with low crime rates. It is an ideal destination for families, offering a budget-friendly and affordable cost of living and a mix of public and private educational institutions. The country’s strategic location at the crossroads of three continents positions Cyprus as an international business hub, perfect for financial and investment opportunities. Additionally, the Cyprus Golden Visa offers a path to unlock all of this via Real Estate options further making the country even more attractive and the ideal second residency abroad in the Mediterranean.

Yes. Though Greek and Turkish are the official languages, English is spoken widely in Cyprus. Regardless, an effort should be made to learn basic Greek or Turkish to facilitate integration.

Yes. Family reunification is possible through the Cyprus Golden Visa, and you can include your spouse, dependent children up to 25 years of age, parents, and parents-in-law.

Though all of Cyprus is worthwhile visiting if only to immerse yourself in unique sights and unveil history mysteries millennia old, the expat communities tend to circle the larger cities, which include Nicosia, Larnaka, Famagusta, Paphos, Limassol and Ayia Napa.

It is not possible to provide an exact answer, as the final cost is dependent on highly subjective factors, including, for example, the property chosen for purchase, the VAT, and health insurance certificates, among others. However, the minimum investment amount is €300,000 to venture through the Cyprus Golden Visa.

No. The Cyprus Golden Visa can be obtained in as little as 3 months and is the most complex part. You will need to visit Cyprus at least once before to submit biometrics information. After you have gained Residency status, the physical requirements to maintain the status are minimal, and you are free to move to Cyprus at your discretion.

 

 

SimonH 1

Paul Smith

Investment Advisor

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