Why Choose Cyprus
for Tax Residency?
A relaxed lifestyle in a Mediterranean atmosphere has established Cyprus as not only a popular tourist destination but as one of Europe’s top spots for expats, business professionals and retirees.
As the safest country in the European Union and the fifth safest country in the World, Cyprus is an attractive place to do business and a unique place to reside. Individuals looking to invest through real estate take advantage of the island’s unique strategic location, enviable Mediterranean lifestyle, warm climate, excellent infrastructure, and first-rate tourism infrastructure. Cyprus also offers the most favourable incentives in the area of taxation as well as the most efficient and simple programs for obtaining Cyprus Citizenship and Permanent Residency through property investment.
With 340 days of sunshine during the year, it is a land you can enjoy all year round. With a total area of 9251 km² and total population of 850 thousand, Cyprus is the third largest island in the Mediterranean.
Discover the culture, history and wildlife of Cyprus
Standing at a historical crossroads between Europe & Asia
Being at the crossroads of three continents - Europe, Asia and Africa - Cyprus is an EU Member State with a stable economy, low tax rates, no inheritance tax and a legal system based on English common law. The English language is widely spoken and is the accepted language for business, high level and mature professional services industry. Cyprus provides access to reputable private and public schools and has a low cost of living with high-quality healthcare.
The location of choice for many individuals & companies
Lowest personal & company taxation in Europe - corporation tax regime 12.5%
No inheritance tax
Lowest crime rate in EU
Stable economy, well-regulated country
Financial centre & ship management centre
One of the highest GDP growth rates in EU
Efficient legal, banking & accounting service
All this combined with its ideal climate and excellent tax and financial benefits, make Cyprus a location of choice for many affluent business-minded individuals and companies.
Not just a summer destination
Cyprus has an amusing yet deceiving mixture of eastern and western culture that combines ideally the wild scenery of boasting mountain peaks and deserted beaches with cosmopolitan city life and unique Mediterranean lifestyle. It is a sport enthusiast’s delight, offering alpine sports during the winter months and aquatic sports all year round. In fact, Cyprus offers sporting temptations for practically every interest from golf, deep-sea fishing to horse riding and hiking.
As an EU member state since May 2004, Cyprus is one of the most progressive and efficient business locations in Europe.
The recent discovery of hydrocarbons within Cyprus’ Exclusive Economic Zone has attracted a lot of attention internationally and has created a lot of optimism about the future of the island. The Government is exploring all the alternatives for Cyprus’ gas exports, through collaboration with other countries in the Eastern Mediterranean region
CYPRIOTS GET GREEN ENERGY SUBSIDIES
The Cyprus Council of Ministers have approved an 1.5-million-euro subsidy scheme for purchases of solar power batteries, charging stations electric vehicles and plug-in hybrid cars and the installation of photovoltaic solar systems at homes.
The Ministry of Energy stated the scheme is part of the government’s efforts to promote electric vehicles and sustainable transport for green energy.
Apart from the sale of photovoltaic systems and EV charging stations, it is also covers the batteries to store energy generated by solar panels. Individuals who own EVs or plug-in hybrid cars are eligible.
The subsidy is €750 per kilowatt covering the installation or the extension of the existing photovoltaic system, and a maximum amount of €1,500 per vehicle.
Furthermore, the grants amount to €600 for the buy of an EV or plug-in hybrid charging station, €450 for the upgrade of a home’s electric installation, and €750/KW for the purchase or installation of a battery with a maximum amount of €2,000.
The scheme is included in the National Recovery and Resilience Fund and is financed by the EU.
Getting to Cyprus
Cyprus enjoys a practical location benefiting from a wide network of air routes around the world through its two international airports of Larnaca and Paphos.
Both scheduled and low-cost airlines connect it with Europe, Africa and Asia.
In 2022 a ferry link between Cyprus & Greece started if you wish to travel by land & sea.