Have you checked the new rules in regard to residence programs in Cyprus?

The Republic of Cyprus in the Eastern Mediterranean location is primarily known for its sweet speed of life and enjoyable lifestyle, referring that it’s a perfect location for foreign nations looking for a more negligent experience. English-speaking nationals consider it feasible to mingle into the local society since a majority of people in Cyprus prefer English, as the country was once a part of the British Kingdom. Moreover, the nation has a superior standard of education. Cyprus’s living overhead is affordable in comparison to the average cost in the European Union (EU). One of the foremost attractions of this brilliant destination is lower tax rates, which are the excuse some international leaders pick Cyprus as the base for their business.

There are lots of advantages to becoming a permanent resident in Cyprus through one of the residence programs in Cyprus. As the country is a full-fledged partner of the European Union, it unities its citizens with an unmatched quality of life, superior standard of living and low living costs. Getting permanent residency in Cyprus and Cypriot citizenship is a faster, easier process. Cyprus is all set to become a member of the Schengen Area, allowing Cypriot permanent residents to travel comfortably across Europe. As of now, the process of getting a Schengen Visa for those who are Cypriot permanent residents is very easy; the entire process consumes about an hour, and the visa to remain for a period of at least two years.

Permanent residents of Cyprus are entitled to enjoy lower costs of tuition in Europe. Cyprus is known to abide by the higher standards with regard to education and has some superb private and international schools that are affiliated with foreign educational institutions. Permanent residency is also applicable to the spouse and children under the age of 18. Children of the age 18+ are allowed to live in the country according to the Family Reunification Act. Permanent residents of Cyprus are entitled to own property and do not have to deposit inheritance tax. The country also has the least most property tax in the world. Obtaining the citizenship of Cyprus means that you can travel easily all across Europe. Cyprus also boasts of steadfast infrastructure, a well-furnished telecommunications system and receives a warm, sunny climate for most of the year.

People who want to choose residence programs in Cyprus and wish to make considerable investments in Cyprus are entitled for a quicker European residency or citizenship. There are two options to go with this route. Investors may choose to adopt citizenship directly or may decide to apply for permanent residency if they have a lesser amount for investment. The minimum investment needed under this citizenship via investment scheme is €2million in the form of real estate or qualified investments in Cyprus. With this option, foreign nationals can choose to get citizenship directly, and those who qualify are rendered the rights and privileges of EU members, along with their qualified family members. In the permanent residency program, the investment cap is placed at least €300,000 in addition to a capital deposit of €30,000 euros.