Cyprus Golden Visa Program
The Cyprus Golden Visa Program offers a fast and efficient opportunity for residency through real estate investment, granting high-net-worth individuals and their family members freedom and financial benefits. Find out more about the value of the Cyprus Golden Visa Program and what makes this island the “Jewel of the Mediterranean.”
Why Choose the Cyprus Golden Visa Program?
Cyprus is a scenic and cultural jurisdiction that also offers a favorable tax regime and a thriving business environment.
Cyprus is also one of the safest and most affordable countries in Europe while maintaining all of the privileges of EU-member states.
The Cyprus Golden Visa Program is one of the most attractive schemes worldwide for all types of investors.
Short History: Culturally divided since 1974 between Turkish and Greek inhabitants, Cyprus is a scenic Mediterranean island between the continents of Europe and the Middle East as well as a member of the EU. As the third-largest island among Mediterranean Sea states, Cyprus has a population of roughly 1.2 million people. The historical influences of the Egyptians, Assyrian, Persian, Roman, Greek, British, and Turkish can still be found throughout the island nation. It is home to three UNESCO World Heritage Sites.
Taxes: With one of the most sought-after tax regimes in Europe, Cyprus has many beneficial tax policies for business and individuals. The corporate tax rate is only 12.5%, one of the lowest in the EU. There are no inheritance, withholding, dividend or interest income, or immovable property tax. Individuals are taxed based on all income in Cyprus or abroad over ~21,500 USD (19,500€) at a progressive tax rate of 20-35%. This includes rental income, but Non-Domiciled foreign nationals receive a 20%-50% income tax reduction for 17 years. Foreign pensions are taxed at a rate of 5% over the 3,417 Euro exemption. As an advantage, Cyprus has signed double taxation treaties with almost 60 countries. Non-Domiciled foreign nationals receive tax benefits such as exemption from the Special Defense Contribution Tax and are not required to pay taxes on dividends or interest income.
Advantages & Disadvantages: There are many lifestyle benefits to living in Cyprus. From ideal weather to gorgeous natural landscapes, Cyprus has a relaxed pace and welcoming culture. As an island, travel to and from Cyprus can be more difficult but geographically it is a hub for the continents of Europe, the Middle East, and Africa. Also, Cyprus is not a member of the Schengen Zone, yet getting a visa as a Cyprus resident is not difficult and opens up more travel options.
Languages: The official languages of Cyprus are Greek and Turkish, but in fact, English is commonly used in every aspect of society. The majority of people living in Cyprus can speak English and with more foreign nationals moving to the island, other languages such as Chinese and Russian can also be found.
Healthcare: Residents of Cyprus enjoy the new national healthcare system, GeSY. Through the Golden Visa program, all residents have access to quality healthcare services and providers with little to no out-of-pocket costs. Cyprus also remains a top healthcare destination with some of the best private healthcare institutions in Europe.
Retirement: The cost of living in Cyprus is around 20% cheaper than living in the UK. Its low living costs along with a low 5% pension income tax make it an affordable destination for retirement. Property prices are reasonable for any budget and access to quality healthcare through the national GeSY program are additional benefits to making the most of the retirement stage of life. Many retired foreign nationals also earn income from rental properties around Cyprus.
Come to Cyprus through the Cyprus Golden Visa
Sunny weather and bright futures await in Cyprus. Contact our team today to hear more about the “Jewel of the Mediterranean!”
Cyprus Golden Visa Program Highlights
Cyprus Golden Visa Program Requirements
Included in the application, an applicant must:
Cyprus Golden Visa Program
Secure permanent residency through the Cyprus Golden Visa program by making an investment in real estate. This method is one of the quickest and easiest among global residency schemes. It requires an investment in real estate of ~363,000 USD (300,000€) in order to obtain a residency permit. The permit covers the applicant and spouse, as well as the parents of both of the applicants and dependent children to the age of 25. This residency permit has lifetime validity and can be passed down to a spouse and dependents.
UPDATE: Effective since 24 March 2021
Bank & Deposit
- There is NO LONGER a bank deposit required (formerly ~36,000 USD/30,000 EUR).
- It is NO LONGER necessary to open a Cypriot bank account.
Real Estate Investment
- The real estate investment can now also be made with SECOND-HAND commercial properties (not residential), in addition to new properties from developers. This is a big advantage as it increases opportunities for investors.
- The RESTRICTION of maximum two properties for investment has been LIFTED for second-hand commercial properties (residential remains at maximum two).
- Residential and commercial investments may NOT BE COMBINED.
Alternative Investment Options
- Investment of the required ~363,000 USD (300,000€) in the share capital of an active Cyprus Company with physical presence and at least 5 personnel registered in Cyprus.
- Investment of the required ~363,000 USD (300,000€) in a fund approved by CySEC.
What remains the same is that an applicant must demonstrate an annual income from abroad of ~36,000 USD (30,000€), with increased amounts for the inclusion of spouses (~6,000 USD/5,000 EUR each), children (~6,000 USD/5,000 EUR each), and parents (~10,000 USD/8,000 EUR each).
Furthermore, an application will be rejected if permanent residency is applied for in another jurisdiction.
Plus, residency has avenues for citizenship by naturalization after 7 years of residency in the country. As of 2021, Greek language knowledge is required for the Cyprus citizenship application.
Property Selection and Purchase
Document Preparation and Application Submission
Approval of Application
Cyprus Golden Visa - Costs at a Glance
Residency Real Estate Property: ~363,000 USD (300,000 EUR)
Lawyer Costs (incl. VAT): approx. ~6,000 USD (5,000 EUR)
Stamp Duty: 0.15-0.2%
VAT Tax 19% / VAT Tax on Personal Real Estate: 5% on first 200 sq. m. then 19%
TOTAL: ~369,000 USD (305,000 EUR) + stamp duty + VAT
+ annual income of at least ~36,000 USD (30,000 EUR)
ROI Estimated (rented out): 6%
Apply for Your Cyprus Golden Visa NOW!
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