Cyprus permanent Visa acquisition has become very popular for third country nationals who wish to have easy move around the EU region and not only. The same scheme is widely considered also by UK nationals after the forthcoming Brexit. British Citizens look into the possibility to keep their European Citizen’s rights. The location, the personal and corporate tax, the great climate and beaches, the EU umbrella, the marine and business hub, the high quality of education are some of the reasons families from all around the world choose Cyprus to reside.
Cyprus as a home for a family or high net worth individuals. What you need to know about the procedure and the basic benefits the scheme and Cyprus lifestyle.
The application for visa requires from the applicant to prove a secure and stable income arising from abroad. The Cyprus Permanent Visa holder is not obliged to live in the country permanently but has to visit the country at least once every two years. The main applicant can follow either the normal track or the fast track for the Visa acquisition. He/ She can include family members on the application (spouse, children, and parents). The main applicant has to prove adequate income arising from abroad sources. The applicant and family have to prove clean criminal record and a stable yearly income in any case. The amount grows with every dependent person added on the application of the applicant. A fast track scheme is available with the purchase of a residence or other combination of properties for the amount of €300.000. The permit is granted for life unless the individual sells the purchased property without replacing it (for fast track visa acquisition). The fast track means the application can be evaluated and approved by the authorities in a two months period. Normal track usually takes a year or more to be evaluated and issued.
Cyprus is the crossroad of three continents (Europe – Asia –Africa) making it a great spot for frequent travelers or business people. Cyprus residents have the freedom to work anywhere in Europe or study, or just travel freely with the family. Main languages are Greek and Turkish but English are spoken frequently almost anywhere you go. Cyprus is a multicultural country and has big communities of Russians, Armenians and Middle East.
Climate and Lifestyle.
Cyprus has a great climate with sunshine all year round (approx. 340 days of sunshine)The island has some of the most beautiful and quiet beaches in the world some of them marked with the blue flag award. Cyprus is one of the most popular destinations of the eastern Mediterranean Sea. In the cities of Cyprus someone can enjoy the high quality of lifestyle – offering fine dining and nightlife but also find great escape destinations on the beautiful mountain range.
Cyprus economy, in addition to the tourism is strongly based on the business services. The two main cities are business hubs offering a variety of professional services. Investors and entrepreneurs choose Cyprus to operate for reasons like the low corporate tax, the Holding companies and Trusts legislation, the double tax treaty agreements with other countries, the offered tax exemptions and deductions for shareholders. Cyprus also hosts a very busy and important port in the East Mediterranean region. Maritime industry is well developed with a big registry of ships and shipping companies.
A Family place.
Cyprus is a great place for families to reside. The weather and the beautiful sunshine are of course a great reason. The easy transportation around with very short distances is very convenient for parents with children. Even though the country does not have a very well developed civil transportation, the civil bus service is very decent. Most of the people in Cyprus own a car but the overall the traffic is bearable. The distances also are very short. Every major city has civil and private hospitals and the quality is pretty high. Private education in Cyprus is also at a very high level. From schools to University Institutions, the country provides a very good level of education, with many students from abroad choosing Cyprus for their degrees and professional diplomas. Last but not least, we have to mention that Cyprus is considered one of the most secure countries in the world with very low criminality.