Obtaining a permanent residency in Cyprus is one of the cheapest ways for a 3rd country national to be able to stay in Cyprus.
Benefits of Obtaining the Cyprus Residency
• The application coves the whole family of the applicant (spouse, parents, children).
• No exams required in history or the Greek language.
• Low property tax.
• Low tuition fees for non-EU Cypriot Permanent Residence holders.
• No capital gains tax (until 31/12/2016), no inheritance tax, low property tax, low VAT (5%).
• The geographical location of Cyprus (situated between the continents of Asia, Europe and Africa).
• Legal system of Cyprus which is based on English common law.
• Very low crime rate.
• Excellent telecommunications network.
• Access to leading medical centers.
For the purchase of real estate by a 3rd country national, under the Regulations passed by the Minister of Interior in Cyprus on the 22nd of August 2012, a residence permit may be granted provided that:
a) The applicant can prove that his annual income is of at least 30,000 EUR [note that this increases by 5,000EUR for each dependent person (i.e. child)].