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Recently the world’s interest towards Cyprus has significantly increased. Why is Cyprus attractive today? Why do we have every right to speak about the New Cyprus? Let us make a short list of the New Cyprus advantages.

New industries

Large offshore gas deposits have recently been discovered in the Exclusive Economic Zone of Cyprus. The value amounts to 300%-3000% of GDP

Gas extraction will start from 2019

Construction of the first casino resort is set to increase the number of tourists by 0.5 to 1mln a year. This will add to 2.3mln tourists visiting the island every year while population of the Republic of Cyprus is 858.000. The casino resort is planned to be the largest in Europe

Wealthy and healthy country

Cyprus is a member of European Union and Eurozone

By GDP per capita Cyprus is at the level of rich European countries - ranked 29th in the World (by nominal)

Average lifetime – 81 years by women, 78 years by men. Cyprus has modern and effective Healthcare system

Low taxes

One of the lowest corporate taxes in Europe (12,5%)

No Capital Gain tax on properties purchased between 16th July 2015 and 31st December 2016.

Non-domiciled Cyprus tax residents (i.e. those individuals who have not been tax residents for the last 17 years out of 20) are not subject to dividend tax, taxes on rental income and on bank loan deposit interest generated worldwide and in Cyprus

No Inheritance tax

Ease of immigration

Investment in Cyprus (€2.5mln) allows to obtain citizenship (EU passport) in Cyprus

Property acquisition (€300.000) allows to obtain permanent residence permit in Cyprus

Qualitative English education

There are private English schools providing complete cycle of primary and secondary education in all the major cities of Cyprus

Private and public education systems are distinguished by high standards. Results of exams taken in Cyprus are accepted by all European universities

A number of well-known UK universities (University of Central Lancashire, University of the West of England, University of Kent, others) have their branches in Cyprus in addition to 12 local universities

Comfortable life

One of the lowest crime rates in the European Union

95% of the population of Cyprus speak English and at a high level at that

Very friendly population especially towards foreigners. Cyprus is one big family. Foreigners now account for more than 1 in 5 of the population. This is the second rate in Europe (after Luxemburg)

Cyprus ranks 5th best destination country for relocation in the world (source: Knightfrank)

Advanced Legal system based on English law

Wonderful climate and a healthy environment

The only European country where one can swim in the sea in November

Sunny days range from 300 to 340 a year

In winter average temperature is 15°C in the daytime and in summer it is 30°C

Cyprus population is only 858 000 people. There are no large industrial enterprises, which could pollute the environment. Car park is modern and uses only petrol/diesel of European quality. As a result Cyprus has clean and healthy environment

The greatest number of blue flag beaches per coastal line in the World.

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26 July 2021
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