FIND OUT HOW TO APPLY
Cyprus is ranked 1st for the safest place to live and visit among countries that have populations under 5 million.
The Permanent Residence Permit (PRP)– Regulation 6 (2), enables applicants (EU and non EU) to apply for a PRP if they can demonstrate that they have an adequate level of income at their disposal to reside in the Republic of Cyprus, have a clear and reputable source of funds and can pass a due diligence review.
We will personally accompany our clients in their meetings with the Cyprus licensed service providers and coordinate all aspects of the applicant’s (and his/her family members) itinerary and agenda.
Cyprus has been an EU Member state since 2004 and has been attracting evermore tourists from both the European Union and beyond. It offers its residents over 300 days of sunshine and is estimated to attract over 5 Million tourists per annum by 2020. It is referred to by many as the Jewel of the Meditteranean . It is also is one of the leading relocation destinations and has been cited as having one of the highest standards of living in Europe.
Cyprus Tax Benefits
Once the applicant and his/her dependents (subject to eligibility) have secured their Permanent Resident Permit (PRP) then they may enjoy the following benefits afforded to Cyprus residents:
- No tax on any profits earned from the disposal of securities including shares and bonds
- No tax on dividend/interest income if the applicant is non-domiciled in Cyprus
- Ten-year tax exemption on 50% of gross employment income earned in Cyprus if the individual has a gross annual income from employment of more than EUR 100,000, considering they were resident outside Cyprus prior to starting their employment
- No tax on employment income earned for offering services to an overseas employer or to an overseas permanent establishment (PE) of a Cypriot employer for more than 90 days in a tax year
- No tax on any lump sum received as a retirement gratuity
- 5% tax on pension received from abroad exceeding EUR 3,420
- No inheritance tax, estate duty, wealth or gift tax
The Ministry of Interior of Cyprus offers an efficient route to obtain the Cyprus Permanent Residency Permit. Namely, the Fast Track Route, which we outline below in further details. This is not to be confused with the Standard Route (Category F) that is also available. Fast Track Cyprus Permanent Residency In order to obtain the … Continue reading Residency Criteria
Regulation 6 (2) (FAST TRACK) enables applicants (EU and non-EU) to apply for a Permanent Residency Permit. They must demonstrate that they have an adequate level of income at their disposal to reside in the Republic of Cyprus. AXESA personally assists each client through the application preparation, submission and attends all meetings in Cyprus with … Continue reading Residency Fees