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The Low-Tax, Peaceful, and Mediterranean Life: A Smooth Path to PR (And Eventual Citizenship) in Cyprus

Demetris Demetriades of Andreas Demetriades & Co

“Kalimera!” my 6-year-old Chinese neighbour beamed at me this morning as we took the lift down. She then proceeded to describe her day in fluent Greek while her proud parents observed.

My lovely neighbours are just one of the thousands of families who have chosen to invest in Cyprus and enjoy the benefits of securing Permanent Residence.

When it comes to planting roots in new soil, savvy world wanderers know that not all residence programs are equal. Enter the Cyprus Permanent Residence Programme: it might not grant you a pass to the Schengen Zone (yet!), but it offers a suite of advantages that are hard to overlook.

Efficiency Without the Red Tape

Cyprus has streamlined the process into a veritable fast lane, offering a smooth ride to residency status with clearly defined investment criteria and conditions. This isn’t about cutting corners—it’s about efficiently securing a life where the long-term view includes not just a stable residence but potentially a new citizenship.

The programme allows applicants to choose from a variety of investments where the amount can be as little as €300.000.

Investment can be in a residential property, in other real estate, in a Cyprus company’s share capital, or even in units of Cyprus Investment Organization of Collective Investments (forms of AIF, AIFLNP, RAIF).   

The program was designed to benefit the Cypriot economy across all spectra.

Tax Benefits That Make Accountants Smile

With no inheritance tax, a corporate tax rate of 12.5%, and generous non-domicile tax resident benefits, your finances will also benefit in Cyprus.

In cases where the investment does not concern the company’s share capital, the Investor is permitted to be a shareholder in Cyprus companies, receive income from the dividends, which is not subject to Defence Tax, as well as hold the position of an unpaid Director.

Zero Tax on global dividends or interest for up to 17 years applies to a Non-Domiciled individual, who under certain conditions can even enjoy Tax Residence by spending as little as 60 days in Cyprus.

The Covid era has paved the way for the adoption of remote working and relocation. While Cyprus was traditionally viewed as a retirement haven, the island is now bustling with young, multinational, and multicultural families opting to relocate in pursuit of a superior quality of life.

High Quality of Life: The Cypriot Edition

Choosing Cyprus isn’t just about smart administrative benefits—it’s about buying into a lifestyle. Famous for its sun-kissed beaches, inviting seas, and archaeological treasures, coupled with one of Europe’s lowest crime rates, Cyprus delivers peace of mind.

Add top-notch education and healthcare into the mix, and you’re not just moving to a new country; you’re upgrading your family’s life firmware.

Conclusion: More Than Just an Entry Stamp

While Cyprus may not offer a magic key to the Schengen Zone, it unlocks a treasure chest of other opportunities. Whether you’re after a safe harbour from global uncertainties, an investment destination to enjoy your Tax Benefits, or simply a heavenly spot to rejoice with family, the Cyprus Residence Programme checks all the right boxes.   

Learn more about how we can help you gain permanent residency in Cyprus today. Call us at +357 26811668, email me at demetris@demetriadeslaw.com, or visit our website.