A large expat community, 80% of the population speaking English, one of the lowest crime rates in Europe, and first-class EU healthcare and infrastructure\u2026there are so many reasons to choose Cyprus as your next home abroad.<\/p>\n
Situated in the eastern Mediterranean (south of Turkey, west of Syria and Lebanon), Cyprus enjoys a high-income economy and security of being an EU member nation (joined in 2004, though not part of the Schengen Area).<\/p>\n
Cyprus was under British control starting in 1878, finally gaining independence in 1960. While this independence was a positive step forward, what followed was eleven years of struggle involving the Turkish invasion and Greek Cypriot coups. The result is a country that is theoretically broken up into two segments. The first segment (just over 60% of the island) is controlled by the Republic of Cyprus, while the northern area of the country is Turkish-occupied. This area refers to itself as the Turkish Republic of Northern Cyprus, though only Turkey recognizes this distinction.<\/p>\n
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Qualifying for a\u00a0residency permit in Cyprus<\/a>\u00a0can be done through 6 main paths. These categories highlight the methods used to stay for longer than 90 days in Cyprus, whether that be for\u00a0working<\/a>, studying, or retiring:<\/p>\n Once this form of temporary residence permit is received, it is valid for five years and is able to be renewed. After this initial five-year period, permanent residency in Cyprus can be obtained. With two years of valid permanent residency (7 total years from receiving temporary residency), expats living abroad in Cyprus can file for a second passport and Cypriot citizenship.<\/p>\n <\/p>\n Expats who hold the Category F retirement permit in Cyprus<\/a> will pay little income tax on their pensions, while double-taxation treaties with many other countries means that these pensions aren\u2019t subject to withholding tax at source. Canadian and U.K. expat retirees in Cyprus can have their state pensions remain index-linked when while they are residents in Cyprus. You will also receive duty-free importation of a car and many other personal items into Cyprus.<\/p>\n The entire process of obtaining this retirement permit in Cyprus will take around 5-12 months. There is a fast-tracked path, though, that can obtain an overseas retirement permit in Cyprus in less than two months if you buy a property in the country for at least \u20ac300,000.<\/p>\n <\/p>\n Perhaps one of the most beneficial aspects of moving abroad to Cyprus is the investment opportunity. The country offers both\u00a0permanent residency through investment and immediate citizenship through investment programs<\/a>. What\u2019s so great about receiving investment residency or citizenship as an expat, especially through real estate investment, is that there are a long list of financial perks associated with this method.<\/p>\n For expat investors, Cyprus has very low property taxes and a reduced VAT on property of just 5%. Obtaining a second passport in Cyprus doesn\u2019t make you a tax resident in the country unless you spend 183 days in a single calendar year there. There is no language requirement for obtaining citizenship through investment in Cyprus, and dual citizenship is allowed \u2013 so long as your home country allows it, you won\u2019t have to give up your home passport to gain a Cypriot one.<\/p>\n The following methods can be used to attain immediate citizenship through investment:<\/p>\n <\/p>\n Here is<\/b> probably the most extensive ebook on <\/b>Everything You Ever Wanted To Know About Eliminating Your Taxes, Protecting Your Assets And Regaining Privacy Over Your Life And Investments<\/i><\/b>. It is called<\/b> The<\/b> Ultimate Guide To Going Offshore<\/b><\/a>.\u00a0 Visit our bookstore to purchase it today!<\/b><\/p>\n I hope you enjoyed reading this article: Cyprus. If you have any questions, please contact<\/b> our office HERE<\/b><\/a>.<\/b><\/p>\n\n
Retiring in Cyprus<\/b><\/h2>\n
Investing in Cyprus<\/b><\/h2>\n
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Country Statistics<\/b><\/h2>\n
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