Why Move to Cyprus?

Cyprus has always been particularly popular among immigrants. Every year, the Cypriot authorities issue about 5,000 new passports. Most often, investors planning to obtain permanent residency through investment choose to move to Cyprus. Applicants usually enter the program through the purchase of real estate, either residential or commercial. After 5 years, the investor can sell the property at a profit, as property prices in Cyprus increase year by year, while retaining permanent residency status. Later, the applicant can naturalize to obtain a Cypriot passport and enjoy the same rights as EU citizens.

This is just a small part of the privileges that await relocators who move to the island nation.

10 Benefits of Living in Cyprus

Who is life in Cyprus suitable for? The island is relatively small and calm, making it ideal for young families with children, retirees, freelancers, and people who value tranquility and a laid-back lifestyle. While it can be difficult to find high-paying jobs in Cyprus, it is an excellent place to start and expand a business, thanks to low tax rates and simplified registration processes.

Benefits of moving to Cyprus:

1. Mild Mediterranean climate and plenty of beaches. Spring arrives early on the island, summers are always hot, and the warmth lingers well into autumn. You can swim in the sea from May to October. Even in winter, the weather is quite comfortable, around +18°C. There is no central heating in homes, but personal heaters can be installed. Cyprus boasts clean seas and over 60 beaches awarded the Blue Flag mark.
2. Affordable cost of living. Cyprus is a developed European country, but living costs are significantly lower than in other EU countries. Food, utilities, gasoline, and mobile services are much cheaper than in Europe.
3. High level of safety. Cyprus is the European country with the lowest crime rate. In most apartments and houses, doors are always open, and people don't worry about the safety of their personal belongings.
4. Quality education. Both public and private education are well-developed on the island. Most institutions teach in English, and many prestigious universities have branches here.
5. Religious freedom. Cyprus is a religious country where many faiths coexist peacefully. Orthodox Christians, Catholics, Buddhists, and Muslims—all religions have equal rights and opportunities. You can find almost any church or parish to meet the needs of the faithful.
6. Opportunities for business relocation and expansion. Compared to other European countries, Cyprus has lower tax rates. Businesspeople who move to Cyprus through the investment program can enjoy tax benefits even without permanently residing in the country.
7. Profitable real estate investment. Purchasing properties in Cyprus' major cities is always advantageous. There is constant demand for housing, as the pace of new construction does not meet the growing demand. Limited land suitable for development and bureaucracy leads to a high demand for quality housing and limited supply. You can always resell the purchased property at a substantial profit. Renting out real estate can generate a stable income of 6-8% annually.
8. Protection against inflation. Inflation does not affect rental income. As inflation rises, property prices increase in parallel. This happens slowly and steadily, which is why many investors seek to buy Cypriot real estate to protect their capital.
9. Quick and affordable travel to European and Middle Eastern countries. You can fly to nearby countries—Jordan, Greece, Israel—via low-cost airlines for as little as €20-50. With a Cypriot passport, you can travel visa-free to around 170 countries.
10. Beautiful nature and delicious food. Many applicants stay in Cyprus once they experience the charm of its landscapes and delicious food. Life here is slow-paced, with a focus on savoring each moment and enjoying the world around.

By choosing to move to Cyprus, you immerse yourself in a unique world of comfort, warmth, and trust. From a pragmatic point of view, it’s a great place to do business, make profitable investments, and place deposits.

If you need help finding and purchasing property, processing documentation, changing your status, obtaining a visa, or dealing with any other migration-related issues, the licensed agency GARANT.IN's lawyers are ready to assist you. Around 60% of the procedures can be handled remotely, saving clients both time and money.

Cyprus Speaks to Russia: Double Taxation Will End

On June 25, the governments of Russia and Cyprus will hold a teleconference to discuss the current tax agreements. The meeting aims to end double taxation and update the legislative framework. This was reported by George Panteli, Secretary of the Ministry of Finance of Cyprus.

Both sides are hoping for swift changes.

Paragon Advice Group partner Alexander Zakharov previously stated, "The double taxation agreement with Russia will likely be preserved if Cyprus agrees to raise the tax rate on dividends to 15%..."

Recently, Cyprus amended Law No. 66 to change the notional interest deduction rate. The 10-year government bond yield in national or Cypriot currency has been adjusted from +3% to +5%.