Since its introduction, the Cyprus Permanent Residency Programme has proved to be incredibly successful with the number of applicants continuing to increase year on year. There are many residency schemes across Europe, and indeed the world, so what is it that makes the Cyprus Residency Programme so popular? We take a look at some of the reasons…
A low risk investment
Investing large sums overseas can be risky, however, Cyprus has a stable economy and a robust legal system based on English law. An investment in Cyprus is considered to be a low risk. A much better option than putting your finances into a country that is financial or politically volatile.
A great location
Whether for business or pleasure, the unique location of Cyprus at the crossroads of the three continents of Asia, Africa and Europe makes it a very attractive place to be located. For centuries Cyprus has been a hub for trans-continental trade and so the transport links are world class.
Lucrative tax benefits
Most people moving to Cyprus find they are better off due to the low tax rates and the highly beneficial double tax treaties. In addition, there is no inheritance tax to pay in Cyprus.
No language barrier
Moving to a foreign country can be daunting. A different culture with different customs. When you don’t speak the local language it can be very hard to settle in. You may find it hard to organise your daily life, and also to make friends. In Cyprus you won’t have this problem as nearly everyone speaks fluent English and English is the primary language of the Cyprus business world. Being able to immediately communicate with people makes life so much easier in a new country, for you, and your family, particularly any school age children who will find adjusting to their new environment much easier when they can communicate with their classmates without the stress of having to learn an entirely new language.
Ease of access to a skilled workforce
For anyone wishing to run a business in Cyprus, you’ll find a wealth of highly skilled and talented people available.
High quality healthcare and education
Cyprus has excellent healthcare establishments and a world class educational system giving you peace of mind that you and your family are getting the very best in both these vital areas.
Low crime levels
No matter how many other benefits there are, if you don’t feel safe in your new home then you’re just not going to be happy. You certainly don’t want to spend your time worrying about the safety of your spouse, children or parents. So you’ll be pleased to know that Cyprus has the lowest crime levels in all of Europe, giving you perfect peace of mind that your family is safe.
Good value properties
As part of the Cyprus Permanent Residence Programme requires you to purchase a property, it’s good to know that Cyprus properties represent very good value currently. When you make your investment, you’ll get a lot for your money compared to some other EU countries.
A rich history and beautiful natural surroundings
Finally, Cyprus is a beautiful island with so many wonderful places to explore. It’s full of natural beauty, sites of historic and archaeological interest and golden sand beaches. Cyprus is certainly a very pleasant place to live and raise a family.