Real Estate in Cyprus: Your Ideal Investment and Safe Haven in 2024!

Why Choose Real Estate in Cyprus?

Buying property in Cyprus in 2024 is an excellent opportunity to acquire a second home and make a profitable investment.

The real estate market in Cyprus is experiencing steady growth, with property prices continuing to rise, making it a long-term and lucrative investment. The average annual price increase for Cypriot real estate is around 10%, highlighting the potential for significant returns.

Moreover, purchasing property in Cyprus grants access to a high standard of living and diverse opportunities for leisure and business.

Permanent Residency for the Whole Family

By investing in real estate in Cyprus, you and your family gain the opportunity to become residents of this country, opening the door to a safe and comfortable life in the European Union. With a property purchase of at least €300,000, you can obtain permanent Cypriot residency, which can eventually lead to citizenship and a Cypriot passport. This not only ensures a high standard of living and security but also provides access to a wide range of social and economic benefits, including quality education and healthcare.

Additionally, obtaining permanent residency in Cyprus simplifies the process of opening bank accounts in European banks, facilitating financial transactions and asset management. For entrepreneurs, Cyprus offers favorable business conditions, including advantageous tax legislation and access to EU markets.

Benefits of Residency in Cyprus

• Permanent Residency: No need to reside in Cyprus continuously to maintain your status.
• Convenient Application Process: Your lawyer can submit the residency card application on your behalf, even in your absence.
• For the Whole Family: Your spouse and children also receive residency or permanent residency.
• Additional Income: Opportunity to rent out your property for extra income.
• EU Citizenship: Obtain EU citizenship and a passport after 8 years.
• Tax Advantages: Gain tax resident status and minimize your tax liabilities.

Living in Cyprus: Comfort and Safety

• High Safety Standards: Cyprus is ranked 1st among the safest countries with a population under 5 million and 5th in the world, making it ideal for families with children.
• Welcoming Locals: Cypriots are known for their friendliness. Almost everyone speaks English, easing the adaptation and integration process for foreigners.
• Pristine Beaches and Sea: Cyprus is renowned for its clean beaches and crystal-clear Mediterranean waters.
• Scenic Nature: From the Troodos mountain range to picturesque coastlines and nature reserves.
• High Standard of Living: Cyprus offers high living standards with quality healthcare and educational institutions. Modern medical centers and schools, including international ones with English instruction, provide everything needed for a comfortable life.

Tax Benefits of Cyprus

Cyprus is a haven for tax optimization, offering the following advantages:

• Corporate Tax at Just 12.5%: One of the lowest corporate tax rates in Europe, making it an ideal jurisdiction for companies aiming to minimize tax expenses.
• 0% on Dividends: Enjoy your profits without additional taxes.
• No Inheritance or Gift Tax
• No Annual Property Tax
• Low Personal Income Tax Rates: Ranging from 0% to 35%, with the first €19,500 of income being tax-free.

Learn More!

READ OUR ARTICLES:

• Record-breaking Real Estate Transactions in Cyprus in 2023: Statistics and Analysis
• Where is the Best Place to Buy Property in Cyprus? Exploring the Top Regions for Property Investment.

Contact Us!

If you are interested in obtaining permanent residency in Cyprus, reach out to our office in Larnaca. We are here to assist you every step of the way!