Cyprus has recently become known as an ideal place for many investor families around the world. And when starting to learn about settling in Cyprus, many of you will be surprised by the advantages of this program. And in this article, AT Express shares the reasons why you should choose to settle in Cyprus so that everyone has a more specific view.
1. Settlement policy in the top 10 in the world
The first reason to choose to settle in Cyprus is that the settlement policy of the Republic of Cyprus government has many advantages and it is ranked in the TOP 10 according to the assessment of settlement experts worldwide. For many years, this policy of the Cyprus Government has surpassed many other countries in Europe, including the United States and Canada.
2. Cyprus – an official member of the European Union (EU)
Cyprus became an official member of the European Union in January 2004, which is one of the reasons to choose to settle in Cyprus. This opens up economic, educational, medical and other benefits for permanent residents of Cyprus. When owning permanent residency in Cyprus, investors will enjoy the high benefits and welfare of a country that is a member of the European Union.
3. Political stability – Common Law legal system
Cyprus has a stable political regime, using the COMMON LAW legal system. COMMON LAW is a body of law based on legal decisions and precedents, it becomes the basis for the legal system in England and the United States (except Louisiana), where civil law is the legal foundation. And this is one of the reasons to choose to settle in Cyprus.
4. Economic and infrastructure development
Sustainable economic development, Cyprus’ GDP in 2021 is 27.72 billion USD, economic growth reaches 5.5%. Per capita income 39,410 USD (2021). Developed infrastructure and creates attraction for investors around the world.
5. Large oil reserves
The next reason to choose to settle in Cyprus is that Cyprus has recently discovered oil fields on the continental shelf and is located in the economic zone with large reserves, which can meet up to 30% of the demand for the whole of Europe. Cyprus has signed oil exploitation agreements with the world’s leading oil and gas corporations from the US, Russia, Japan… this is a lever for the economy in the near future.
6. Center of the world shipping industry
Cyprus is the convergence center of all major shipping corporations in the world. The cities of Nicosia and Limassol are where the most international economic corporations are concentrated.
One of the reasons to choose to settle on Cyprus is its extremely strategic location, which is the connecting point of three continents: Asia, Europe and Africa. The climate is temperate, the winter is not too cold, the lowest temperature is 10 degrees Celsius, there is snow on the top of Troodos mountain. The average temperature in summer is from 28 to 37 degrees Celsius.
8. Preferential tax policy
Many investors planning to settle in Cyprus are often interested in tax policies. Cyprus is a country with many preferential tax policies. VAT is only 5% for the first real estate, corporate income tax is only 12.5% - the lowest in Europe. Pensions are not subject to personal income tax. Cyprus has signed double taxation treaties with 65 countries around the world.
9. Safe – low crime rate
Cyprus is one of the safest countries in the world, with the lowest crime rate in Europe. Life is peaceful and comfortable, people are friendly, and English is widely spoken.
10. Health – Education development
And one of the reasons to choose to settle in Cyprus is that the education system and quality of Cyprus are highly appreciated by experts and scientists. Residents and citizens of Cyprus enjoy completely free public education for life. The quality of health care and medical care is ranked 24th in the world according to the assessment standards of the World Health Organization (WHO).
11. Low cost of living, open lifestyle
The cost of living in Cyprus is extremely affordable and much lower than in other European countries. According to experts, the cost of living in Cyprus is 20 to 30% lower than most other European countries and 70% lower than in the US.
12. Europe’s Most Impressive Tourist Destinations – 76 Blue Flag Beaches
One of the reasons why you should choose to settle in Cyprus that should not be overlooked is that tourism and services are the spearhead economic sector of Cyprus. Every year, this country attracts up to 4.12 million visitors, contributing 12.60% to the national GDP, creating more than 130,000 jobs. Cyprus has 76 blue flag beaches – the cleanest beaches in the world.
13. Sustainable real estate market development
The Cyprus real estate market has a growth rate of 8 to 30%, focusing on major cities such as Nicosia, Larnaca, Limassol and Paphos.
Those who are interested in settling in Cyprus, survey tours, investment processes, project information, please contact AT Express via hotline 0911 60 22 44.
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