CYPRUS
PERMANENT RESIDENCY
PROGRAM
PERMANENT RESIDENCY
PROGRAM
CYPRUS OVERVIEW
Cyprus is a member state of the European Union since 2004 and
has a strong legal and tax system, as well as more than 30 years of
experience as an international business centre, with highly qualified
professionals and sophisticated infrastructure. It is a country
with a strategic location, long history and culture, as well as nice
weather with almost year-round sunshine.
- GOVERNMENT Presidential Republic
- POPULATION 447 Million
- AREA 4,233,255.3 km2
- FOUNDED 1993
- CLIMATE Mediterranean temperature 23°c
- CURRENCY Euro
- MEMBERSHIP EU & Eurozone / 27 member state
- OFFICIAL LANGUAGE English
CYPRUS OFFERS THE MOST FAVOURABLE TAX INCENTIVES IN EUROPE
Tax planning advantages in Cyprus reach far beyond saving tax (money). It is a complete business strategy for investment, as well as a global solution for financial efficiency.
These benefit are for large corporate companies, small and dedium size enterprise, as well as individuals.
MAIN FEATURES
- Taxation is based on Residency status
- Notional Interest Deduction on new equity invested
- Fully reformed Intellectual Property Regime
- Capital gains on sale of securities: 100% exemption
- Capital gains from the sale of immovable property situated outside Cyprus are tax exempt
- Applicability of all EU directives
- Advanced ruling practice exists
- Extensive and expanding favourable Double Tax Treaty network (with 61 countries)
MAIN FEATURES
Classification of Non-domiciled resident
- an individual who has obtained and maintained a domicile of choice outside Cyprus under the provisions of the Wills and Succession Law, provided that this individual was not a Cyprus tax resident for a period of at least 20 consecutive years prior to the tax year in question; or
- an individual who was not a Cyprus tax resident for a period of at least 20 consecutive years immediately prior to the entry into force of the introduced provisions
THE FAST - TRACK PERMANENT RESIDENCE PROGRAM
enables the granting of a permanent residence permit to foreigners who intent to invest in Cyprus, provided that the following requirement as met :
- FSTEP 1: SELECT REAL ESTATE INVESTMENT Investor selects property/ies either by visiting Cyprus or through correspondence
- STEP 2: PAYMENT Purchase Agreement signed Minimum requirement of € 300,000 + VAT as initial payment Permanent Residency fee € 500 per application
- STEP 3: DOCUMENTATION SUBMISSION Required residency documents need to be prepared and submitted to the Civil Registry & Migration Department, or to the District offices
- STEP 4: ISSUE OF PERMANENT RESIDENCY Residency Permit is issued within 2-4 months
- STEP 5: RESIDENCY PERMIT AND ID CARDS Upon approval, the applicant is required to visit Cyprus within one year to obtain the actual permit and digital ID cards
- STEP 6: VISIT CYPRUS EVERY 2 YEARS The applicant and any dependants included in the PR must visit Cyprus at least once every two (2) years
#164, Pasteur Road (51), Boeung Keng Kang 1,
096 9 1111 99 
macyvisaandimmigrationspecialist
macyvisaimmigration
