Cyprus is one of the largest islands in the world. The country has numerous tourist attraction sites and features which make tourism the primary contributor to the economy. The country belongs to the European Union since 2004. It has one of the highest human development indexes.
Cyprus offers permanent residence through real estate investment or contribution to the national development fund. Residents enjoy the freedom to travel across European Union without visa requirements. You also have access to education facilities in most countries in the region. Here is what you gain from Cyprus immigration with Passpro.
Tax Benefits
Cyprus has very attractive tax system that attracts residents from high income tax charging countries like Sweden and Japan. Cypriots only pay 12.5% income tax which is among the world lowest. The country does not charge any taxes on inheritance, gifts, and investment gains. Therefore, you have a better position against your global competitors when working under Cypriot tax system. You can use the amount saved to grow your business.
Travel with Ease
Cypriot residence opens up opportunity to travel over 150 countries visa-free or on visa-on-arrival basis. There are restrictive regulations that govern cross border travels. The regulations can hurt your business or other activities because they also come at an extra cost. The increased mobility also translates to your family members and dependents. Therefore, your children can study in any EU country.
Possibility of Citizenship
After permanent residence in Cyprus for 7 years, one is eligible to apply for Cypriot citizenship. However, you should visit the country at least once every 2 years to be eligible for citizenship. It is also important to note that when you acquire residence through property investment, you cannot rent it out. The house is meant to be your residence for you to maintain eligibility for the citizenship. But you can sell or rent out the property once the period is over.
Access to Education and Employment
You can work or study in other European Union countries. The EU member countries offer opportunities to member states to study or work in their countries. The region has over 1,000 world class universities. Apart from that, you widen your scope of getting a good employer. You can also reside in the country of your study or employment. Your children are also entitled to these privileges.
Country’s Beauty
Cyprus residency has a lot to offer in attractive physical features and turquoise beaches. There is a balance between work life and recreational activities. You can enjoy marine sports such as diving and snorkeling along the coast. The country does not fall short of diversity in culture which makes the country accommodative. Apart from that you will enjoy myriad of local cuisine in the local villages which present the elegance of Mother Nature.