There are many reasons why foreign investors are turning to Cyprus’ Residency by Investment Program, otherwise known as a “Golden Visa Residence Program”—and it’s not only because of the island’s famed sunshine or picturesque beaches surrounded by dazzling azure water.
In this blog, we want to give our readers three reasons why investing in Cyprus’ Golden Visa Residence Program is the best choice for you and your family.
1. Cyprus Offers Safety and a High-Standard of Living
Compared to other European nations, Cyprus is known for its relaxed atmosphere, safety, and high-quality standard of living, which makes the island appealing for business professionals, expats, and retirees alike.
To begin, Cyprus is ranked among the top 5 safest countries in the world, and is known as a nation where crime is practically non-existent. For individuals or families seeking greater security abroad, Cyprus is one of few destinations that can provide such a high standard of safety and stability.
According to the World Health Organization, Cyprus also ranks as one of the healthiest nations throughout the Mediterranean and provides residents, businesspeople, and retirees top-quality, free or low-cost healthcare supported by the island’s Social Security system.
In addition, Cyprus’ efficient infrastructure makes everything easily accessible. Whether you’re a tourist, expat, or businessperson, the country’s modern road network allows quick and easy travel to airports, seaside ports services, and beyond.
2. Cyprus’ Unique Geographical Location
Did you know that Cyprus has a unique geographical location? Due to the country’s position in the Mediterranean Sea, Cyprus is has acquired a lively mix of cultural, diplomatic, and geographical influences from neighboring countries over many centuries—especially from the Middle East. From Great Britain to Turkey, to Greece, Syria, and Lebanon, Cyprus’ modern-day culture and landscape has been shaped by European, Western, and Ottoman influences that are evident in cities such as Agia, Pafos, and Limasol, to name but a few. Whether you’re a visitor or resident, the island’s dynamic history makes Cyprus an appealing location to all.
One of the most distinctive facts about Cyprus is its beautiful weather. If you enjoy summer, then Cyprus is the place to be. Because of the island’s sub-tropical location in the Mediterranean Sea, a summer in Cyprus lasts about eight months with temperatures averaging around 23.8˚C (approximately 75˚F).
For investors looking to permanently relocate to Europe or find the perfect summer getaway, Cyprus’ Golden Visa Program presents an ideal opportunity—and next we’ll tell you why.
3. Cyprus’ Real Estate Market is Economically Sound
If you are considering applying to Cyprus’ Golden Visa Residence Program, the island provides a variety of commercial or residential properties to invest in. Whether you are looking to own or rent office space, five-star resorts, apartment buildings, or seaside bungalows, Cyprus’ real estate market has it all. For foreign nationals looking into investment opportunities abroad, Cyprus allows non-EU nationals to purchase Cypriot real estate property for a minimum of EUR 330,000,* making Cyprus one of the most sought-after and affordable locations in Europe for foreign investors.
According to economic reports, the country’s Golden Visa Residence Program has netted approximately EUR 4.5 billion in the past year alone and accounts for 25% of Cyprus’ overall GDP. Even more, real estate experts have credited the Golden Visa Residence Program with saving Cyprus’ real estate market amid economic crises in neighboring regions.
*To apply for Cyprus’ Golden Visa Residence Program, applicants must invest in two residences (apartments or houses); or, a residence and a shop; or, a residence and an office. The properties purchased should be worth at least EUR 300,000, excluding V.A.T.
Obtaining permanent residency through Cyprus’ Golden Visa Residence Program has provided foreign investors and their families a simplified and secure way to not only ensure greater safety and security, but a higher standard of living overall. Added benefits of applying for Cypriot residency through the Golden Visa Program include fast-track application processing with high approval rates (granted all requirements are met).
For individuals and families not ready to make the “big move” yet—not to worry. With the Cyprus Golden Visa Residence Program, successful applicants are only required to temporarily live or visit once every two years, which can turn your real estate into the perfect holiday getaway or rental property.
Are you still unsure about Cyprus’ Golden Visa Residence Program? Contact our office today and our team of immigration professionals will be happy to provide more information or answer any questions you may have.
For more information on Cyprus’ Golden Visa Residence Program, please click here.
To view our Golden Visa Residency comparison table, please click here.
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