In the new reality, when many companies transfer their employees to remote work, moving to another country is becoming relevant for an increasing number of the economically active population. However, Cyprus already has many attractive aspects that foreigners planning to settle on this island are guided by.
Winter in the usual sense is absent in Cyprus as such, which is especially appreciated by people from Central Europe and Scandinavian countries. This is typical for all areas of the island, without exception, and as a bonus there are local beaches, more than 60 of which are regularly awarded the Blue Flag – a European mark of quality, safety and cleanliness.
The average life expectancy in Cyprus is 82.7 years – much higher than in Russia. This is facilitated by a calm pace of life, good environmental conditions and healthy nutrition, coupled with walks in the lap of nature. The level of medical care, which pleasantly surprises with the price/quality ratio, also plays an important role.
A distinctive feature of Cyprus is the complete absence of so-called disadvantaged areas inhabited by illegal immigrants. Crimes occur here very rarely and the vast majority of them come down to petty thefts. At the same time, local residents leave their cars unlocked – there is no point in stealing them on the island.
Cyprus has convenient regular flights with many EU countries, Great Britain, Russia, Israel, the UAE, Egypt – it is no coincidence that it is called the “gateway of three continents”. And although on the island itself the level of development of public transport leaves much to be desired, inexpensive taxis fill this gap.
According to Eurostat, Cyprus ranks second in the EU after Luxembourg in terms of the share of permanent residents from other countries. Most of them are young professionals working in the IT and banking sectors, businessmen and wealthy pensioners. The interests of foreigners are taken into account in literally everything, which is also expressed in communication in English.
Many foreigners bring their children to Cyprus to study in local international schools, where teaching is conducted in English (although there are also Russian-language schools). The cost of studying there is noticeably lower than in a number of EU countries, and the chances of entering universities – especially British ones – are regarded as very high.
Thanks to its stable political and economic situation, Cyprus attracts entrepreneurs from other EU countries. The local tax system is one of the most flexible in the world, and there are often cases when foreigners decide to buy property in Cyprus in order to obtain tax resident status and thus be exempt from paying a number of taxes abroad.
Real Estate Investments
Residential real estate in Cyprus is a sought-after and liquid product, investments in which pay off faster than in many EU countries. The most advanced technologies are used in the construction of facilities that meet the highest European standards, and it is no coincidence that every third purchase and sale transaction is concluded with the participation of foreigners.
Ease of obtaining a residence permit
A residence permit in Cyprus is issued subject to the purchase of two objects for a total amount of 300 thousand euros and confirmation of income of 30 thousand euros per year. You can apply for a residence permit, which is permanent and does not require renewal, for your spouse, children and parents. This status does not impose any obligations regarding the time of residence on the island, and after seven years it allows you to obtain Cypriot citizenship.