If anyone wants to relocate to Cyprus, some essential facts should be kept in mind while settling in this island country of the Mediterranean region. Cyprus offers a friendly environment to foreigners who want to settle here. The climate of this island is very pleasant, which lures people from other European countries to relocate here. Even residents of non-European countries can apply for a home and work in Cyprus, though they need to undergo many legal steps. Hence, they need to contact local real estate companies, to buy properties in Cyprus within their affordable budgets.
Regulations for settling in Cyprus:
For citizens of EU countries – When a resident of a European country wants to stay in Cyprus for more than 3 months, he/she needs to apply for a Registration Certificate for EU Nationals, which is also commonly called Yellow Slip. He/she should submit this slip to the Cyprus government after 4 months of staying in this country.
For citizens of non-European countries – Residents of non-European countries can apply for citizenship in Cyprus if they are eligible for the Scheme for Naturalization of Investors in Cyprus by Exception. To apply for this scheme, a person needs to make at least €5 million total investment in Cyprus or he/she needs to earn a salary in this country, from which he/she can submit the income tax of a minimum of €100,000 in 3 years.
Benefits of living in Cyprus:
Greater earning scopes – Cyprus is a great place for finding suitable works in all kinds of industrial sectors. Qualified professionals never find a shortage of work here and they may search for good jobs in Cyprus on the website of the European Union. They do not even need to learn the local languages, as English is widely spoken all over this country and considered as the second language here. Residents of some European countries are free to set up their businesses in Cyprus and it is very easy to get a competent workforce in this land at reasonable costs. Online jobs, like writing, programming, or proofreading, are also easily available for expats in this country.
Cheap living costs – If residents of foreign countries want to stay in Cyprus for a few months, they may take houses on rent here. Rental properties in Cyprus are available at very low prices, which enable expats to live here with a limited income. All other expenses are also much lower in the cities of this country, which is a major positive factor for settling in Cyprus. Electricity is 40% cheaper on this island, compared to other European countries. Income tax and commercial taxes are also lower in this country, due to which people need to pay a lesser amount of money for paying all their taxes here.
Cyprus is a safe place for all foreigners, as the crime rate is very low in this country. The lifestyle is not too fast here, which keeps people comfortable here. They can enjoy partying on the beaches or may visit the ancient monasteries, castles, and vineyards located in different cities of this island country. Foreigners are also allowed to bring in their pets without any permit, only if their pets are vaccinated and microchipped. They can buy properties in Cyprus, as lots of villas, small houses, and apartments are available for sale here.