Cyprus

Cyprus is famous for the highest number of sunny days per year in the Mediterranean.

About Country

    Continent

    Asia

    Capital

    Nicosia

    Population

    1,207,359

    World share 

    0 %

    Land area

    9,240 km²

    Official Languages

    - Greek
    - Turkish

    Unofficial Languages

    - Arabic
    - Bulgarian
    - English
    - Filipino
    - Romanian
    - Russian

    Currency

    EUR

    Economy rating

    100

    Economy GDP

    26,479 millions USD

    ВВП на человека

    21,931 USD

Democracy Index

7.56

Flawed
democracy

*

Electoral process and pluralism

9.17
9.17

Functioning of government

5.36
5.36

Political participation

7.22
7.22

Political culture

7.5
7.5

Civil liberties

8.53
8.53

    Crime Rate

    1.3

    Safe zone

    Unemployment

    9.4 %

    Normal unemployment

*

Average salary

1.97
1.97

Average expense

2.98
2.98

Average rent price

1.64
1.64

    Average salary

    1,384 USD

    Average expense

    778 USD

    Average rent price

    678 USD

Immigration

    Immigration difficulty

    Normal

    Recommended Savings

    8,732 USD

    Double citizenship

    Allowed

    Official site

    Immigration official website

    Compulsory exams

    Greek (В1+) Language and History Written Examination

    Passport rating

    15 Amount of countries: 176

Immigration options

Immigration typeRequired TimeFee
Studentfrom 1 to 2 weeks (paperwork)
7 years (for citizenship)
61 USD
Real estate investmentsfrom 1 to 4 weeks (paperwork)
7 years (for citizenship)
61 USD
Businessfrom 1 to 2 weeks (paperwork)
7 years (for citizenship)
61 USD
Employeefrom 4 to 8 weeks (paperwork)
7 years (for citizenship)
61 USD
Marriagefrom 1 to 4 weeks (paperwork)
3 years (for citizenship)
61 USD
Family reunificationfrom 1 to 4 weeks (paperwork)
7 years (for citizenship)
61 USD
Originfrom 1 to 4 weeks (paperwork)
7 years (for citizenship)
61 USD


Student

Immigration feeImmigration Time
61 USDfrom 1 to 2 weeks (paperwork)
7 years (for citizenship)

List of documents:
-Completed questionnaire;
- International passport;
- Color photo;
- Receipt of payment of the fee;
- Certificate of no criminal record;
- Invitation to study at a university;
- Financial guarantee (bank statement or sponsorship letter confirming the availability of funds);
- Confirmation of the availability of housing in Cyprus;
- Confirmation of booking tickets;
- School graduation certificate with all grades
Additional Information:
Upon admission to the University of Cyprus, you can apply for a residence permit. But we must remember that it is issued only for the university where you entered, and if you change the place of study, then the residence permit will have to be reissued.
A study residence permit gives the right to work, but not more than 20 hours a week.

Real estate investments

Immigration feeImmigration Time
61 USDfrom 1 to 4 weeks (paperwork)
7 years (for citizenship)

List of documents:
-Completed questionnaire;
- International passport;
- Color photo;
- Receipt of payment of the fee;
- Certificate of no criminal record;
- Documents confirming the ownership of residential or commercial facilities;
- Financial guarantee (bank statement or sponsorship letter confirming the availability of funds)
Additional Information:
Cyprus residence permit can be obtained when buying or long-term rental housing.
At the same time, if the amount of the purchase of housing exceeds 300,000 euros, then you can immediately apply for permanent residence.

Business

Immigration feeImmigration Time
61 USDfrom 1 to 2 weeks (paperwork)
7 years (for citizenship)

List of documents:
-Completed questionnaire;
- International passport;
- Color photo;
- Receipt of payment of the fee;
- Certificate of no criminal record;
- Certificate of registration of the company in another country;
- Financial guarantee (bank statement or sponsorship letter confirming the availability of funds)
Additional Information:
You can count on a residence permit by registering a business on the island.
A huge plus is the lack of start-up capital and a fairly low tax rate.

Employee

Immigration feeImmigration Time
61 USDfrom 4 to 8 weeks (paperwork)
7 years (for citizenship)

List of documents:
-Completed questionnaire;
- International passport;
- Color photo;
- Receipt of payment of the fee;
- Certificate of no criminal record;
- Employment contract;
- An invitation from the employer;
- Financial guarantee (bank statement or sponsorship letter confirming the availability of funds)
Additional Information:
Immigration through employment is the most difficult way to obtain a residence permit.
A work visa can only be issued to you by a future employer, and then after meeting a number of conditions.
The inviting company must make the vacancy publicly available, and only if no one from the EU citizens has approached in 40 days, then the company has the right to hire a foreign citizen.

Marriage

Immigration feeImmigration Time
61 USDfrom 1 to 4 weeks (paperwork)
3 years (for citizenship)

List of documents:
-Completed questionnaire;
- International passport;
- Color photo;
- Receipt of payment of the fee;
- Certificate of no criminal record;
- An invitation from a spouse;
- A document confirming the marriage;
- Financial guarantee (bank statement or sponsorship letter confirming the availability of funds)
Additional Information:
You can get a residence permit after marriage with a citizen of the country.
The main condition is that the marriage is not fictitious.

Family reunification

Immigration feeImmigration Time
61 USDfrom 1 to 4 weeks (paperwork)
7 years (for citizenship)

List of documents:
-Completed questionnaire;
- International passport;
- Color photo;
- Receipt of payment of the fee;
- Certificate of no criminal record;
- An invitation from a relative;
- A document confirming the conclusion of marriage or other family ties;
- Financial guarantee (bank statement or sponsorship letter confirming the availability of funds)
Additional Information:
You can get a residence permit in Cyprus due to family reunification. If a person has a residence permit for more than a year, then he can invite his closest relatives (spouses, children, etc.).
It is necessary to comply with 2 conditions: to have real estate on the island and an annual income of 1000 euros.

Origin

Immigration feeImmigration Time
61 USDfrom 1 to 4 weeks (paperwork)
7 years (for citizenship)

List of documents:
-Completed questionnaire;
- International passport;
- Color photo;
- Receipt of payment of the fee;
- Certificate of no criminal record;
- A document confirming the presence of Cypriot roots;
- Financial guarantee (bank statement or sponsorship letter confirming the availability of funds)
Additional Information:
Immigration to Cyprus and obtaining a residence permit is possible if you have Cypriot roots.
You will need to document this.

Taxes

It is convenient, profitable and comfortable to live, work, buy and sell real estate in Cyprus, because the island has one of the most loyal taxation systems in the European Union.
Income tax:
On income below 19.5 thousand . There is no need to pay tax per year. Then the progressive rate is applied:
up to 28,000 euros - 20%
up to 36,000 euros - 25%
up to 60,000 euros - 30%
from 60,000 euros - 35%
There is no need to pay taxes on property, inheritance, profits received from dividends and the sale of securities. Pension payments are also exempt from taxes. However, if the latter come from abroad and the amount exceeds 3,420 € per year, the tax rate is 5%.

Social contributions are an obligation for both the employee and the business. Personal income is subject to two key taxes: social insurance (8.3% for up to €54,864) and a contribution to the national health system (2.65% for up to €180,000). For individual entrepreneurs, these taxes amount to 15.6% and 4% of income, respectively.

Cyprus provides benefits for those who were not a tax resident of the country before starting their work.
20% of salary can be deducted from the tax base (but not more than 8,500 € per year), and if the annual income exceeds 100,000 € — 50%. The first benefit is valid for 5 years, the second — 10, they are not combined.

There is also a tax deduction for income from renting real estate (20%).

The tax burden in the real estate sector has been reduced. When buying from a developer, the cost of the object will include VAT of 19%, but if this is your first home in Cyprus, the rate will decrease to 5%.
There is no VAT on secondary housing, but it is necessary to pay a tax on the transfer of ownership. The rate depends on the value of the property:
up to 85.000 € — 3%
from 85,000 to 170,000 € — 5%
from 170,000€ — 8%

The funds received from the rental of real estate are subject to income tax on a standard progressive scale.

The company's profit is subject to a 12.5% tax rate. But shipping companies are completely exempt from taxation.

The standard VAT rate is 19%, but there are a number of goods and services that are exempt from payment:
- rental of residential real estate
- financial and med. services
- educational and sports activities
- and others

Companies and sole proprietors pay the following taxes for employees:
Social insurance — 8.3%
Health insurance — 2.9%
Unemployment Fund — 1.2%
Industrial training Fund — 0.5%
Social Unity Fund — 2%.

Cyprus has a flexible tax system, but this does not cancel penalties for violations of the law, so do not forget to pay all taxes on time.

Education

The education system in Cyprus is four–stage - preschool, primary, secondary and higher education.
They teach in educational institutions of Southern Cyprus mainly in Greek. In private kindergartens, schools, universities, teaching in English or any other language is allowed, but with a mandatory minimum of Greek lessons.

Preschool education in Cyprus is mandatory from the age of 4-5.
For the first couple of years, children go to a nursery, and after that they attend a school preparation group.
There are 3 types of kindergartens:
- State
- Community (community kindergarten)
- Private
Parents pay for a state or community kindergarten once a month: from €45 to €150.

Children go to primary school from 5-8 years old and study for 6 years, and after graduation they receive a certificate.
There are two types of schools: public and private. Public schools:
There are 340 public primary schools in Cyprus. Training in any of them is free. Schools are divided into categories depending on the number of students:
- 15-20 children are schools with one teacher.
- 20-40 children are schools with two teachers.
- 30-60 children - there are 3-6 teachers in such schools.
- more than 60 children are large schools and they employ more than 6 teachers.
Private schools:
There are only 30 private schools and all of them are located mainly in cities. Depending on the school and class, the cost per year of study can reach € 5-6 thousand. There are installments, scholarships and various discounts, which significantly simplifies the payment of private schools.

Secondary school: Grades 7-12
Secondary school education is mandatory and lasts 6 years. Education is provided free of charge in public schools.
The training program consists of two three-year cycles:
Cycle A. Junior High school. Compulsory stage of full-time education for all children aged 12-15.
Cycle B. Senior secondary school (optional stage of education!). Classes from 10th to 12th. Children study at the lyceum, where they are preparing for university admission. Instead of a lyceum, a child can choose a secondary specialized educational institution (college) to get a profession.

Higher education
Higher education in Cyprus is obtained in public and private universities. More than 30% of school graduates enroll in them. Approximately the same number of students choose universities abroad. One year of study at private universities costs from €4,000-14,000 (bachelor's degree) to €8,000-22,000 (master's degree).

Cyprus provides a good education, with the prospect of employment throughout the EU. At the same time, it is much easier to enroll in a Cypriot university than in a European one.

Healthcare

The public sector of medicine in Cyprus is currently controlled by the Ministry of Health.
In 2019, the National Health System GHS (General Health System), also known as "GESY", was put into operation in Cyprus, allowing residents of the republic to get free access to medical services and services in public and private medical institutions. Citizens of any country working and living in Cyprus have the opportunity to register with the new GHS national health system. This system meets all the needs for medical care, including chronic, rare and severe diseases.
According to the new scheme, persons without income, such as the unemployed, children and students, also have equal access to medical services. To become a member of this scheme, beneficiaries must register online on the GESI website or through a personal doctor.
In case of illness, the patient must first consult a personal doctor who is responsible for establishing the initial diagnosis and prescribing appropriate treatment. In cases where the services of a specialist doctor are needed, a personal doctor issues a special referral.
The national health system provides lifelong financial protection for all citizens, since they will make contributions depending on the income they receive, and not depending on the needs for medical services. And the payment for the services of the National Health System is significantly lower than the current household spending on medical services.
Medical tourism in Cyprus is becoming more and more relevant. More and more people come here for treatment and this is not unreasonable: the medical infrastructure is well developed here, high requirements for specialists and other indicators of the quality of medical care.

Climate

Cyprus is a fairly large island located in the Mediterranean Sea and belongs to Asia. The area of the island is 9000 km2.
In fact, the island is divided between 3 states: part of the territory belongs to the Turkish Republic, part belongs to the UN and the UK, and the rest is the Republic of Cyprus.
There are mountains on most of the island. The Kirinia mountain range stretches along the northern shore, its width varies from 15 km to 30 km. The highest point of the ridge is Mount Cypress. In the south of the island you can find the Troodos mountain range, its highest point is Mount Olymbos.
The climate in Cyprus is considered one of the healthiest and most comfortable in the world. The island has a subtropical Mediterranean climate, with hot and dry summers (average temperature +30 °C), as well as mild and humid winters (average temperature +15 °C). Summer usually lasts from May to October. At the same time, it is cooler on the west coast than on the east coast. The best time to visit the island is considered to be the period from May to November, until the rainy season comes.
The peaks of the mountains are always covered with snow in winter. On average, 380 mm of precipitation falls annually, 300-500 mm on the plain, 500-700 mm in the western mountainous areas, and up to 1000 mm on the mountain tops.
The average humidity is 60-80% in winter and 40-60% in summer. Winds are frequently weak, they increase in winter.
The wildlife of Cyprus is not distinguished by the richness and diversity of species. But the soil in Cyprus is fertile, which has a beneficial effect on the cultivation of many types of agricultural crops.
The island has an average of 320 sunny days a year, so feel free to come here to relax.

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