How to move to Cyprus, including both the Republic of Cyprus as well as Northern Cyprus.

Where is Cyprus

Today, Cyprus is a full European Union member (and one of the smallest countries in the bloc). It joined the EU in 2004 together with Malta, Slovakia, Slovenia and some other countries in Central Europe.
Cyprus also uses the euro as its currency, making its economy quite stable and attractive for foreign investors.
But it is important to remember that Cyprus is not in the Schengen free movement zone. This may or may not be important to you, depending on your country of citizenship.

Cyprus and Northern Cyprus

So, Cyprus is a highly developed nation, member of the EU and the Schengen area with a stable economy and currency. Northern Cyprus on the other hand is an equally beautiful place, with a much cheaper cost of living, but at the expense of a less developed infrastructure and not being an EU member.

Residence Permit in Cyprus (EU citizens)

If you are an EU citizen you can just come to Cyprus without much hassle. If you want to stay more than 3 months in the country you need to register your stay.

Residence Permit in Cyprus (non-EU citizens)

A great advantage of Cyprus is that, if you are a citizen of a country which does not require a visa to come to Cyprus such as the US, Canada or the UK, you can actually sort your residency in Cyprus. In other popular destinations like Portugal or Spain, in most types of residence permits, you need to apply for a visa before coming to these countries through the embassy or consulate in your country of residence. There are a few exceptions to this, but Cyprus is definitely much more flexible than Portugal, France or Spain in this regard.

Cyprus Pink Slip

The Cyprus pink slip is a great option if you want to live in the European Union and your income is derived from activities abroad. It is as a matter of fact one of the cheapest ways to live in the EU, but it doesn’t allow you to work for a local source in Cyprus, your income must come from abroad. You need to show an yearly income of at least 10k euros to be able to apply for this permit.
The main disadvantage of this permit is that if you stay out of Cyprus for 3 months you will lose your residence status in the country.

Cyprus Permanent Residence

Usually permanent residence in Cyprus is granted for those who live consecutively in Cyprus for 5 years on a temporary permit. But, there are some options in which you can fast track your permanent resident status in Cyprus

Cyprus Permanent Residence for Investors

Cyprus offers some of the fastest ways for anyone willing to get a permanent residence permit in a EU member country. The program is aimed at those who are willing to invest a substantial amount of money in exchange for permanent residence in Cyprus.

The investment requirement is 300k euros. The types of investment are quite varied, making this program, in my opinion, one of the most versatile and attractive currently in the EU. You can invest in real estate (both residential and commercial) as well as invest in a business in Cyprus. The other option is investing the same amount in a qualified fund based in Cyprus.

There is also another option, which is the F type residence permit. It is not as fast tracked as the golden visa for investors, but can also guarantee your long term residence in Cyprus, which is a great place to be based for tax purposes. You will need to show at least 30k euro parked in a Cyprus bank plus 10k euro minimum yearly income for a single applicant.

Cyprus Citizenship

Cyprus used to have one of the most well known citizenship by investment programs in Europe, but it has been completely suspended since 2020.

If you want to acquire Cypriot citizenship through naturalization you will have to reside in the country for at least 7 years to become eligible for it.

Northern Cyprus Residence Permit

The good news is that the visa and residence permit policy of Northern Cyprus is extremely flexible. Visitors of almost any country can come to Northern Cyprus without a visa for short stays.
There are many relatively easy ways to get a residence permit in Northern Cyprus, among them we have:
-Residence permit for real estate owners, passive income earners, company directors.
And of course the usual ones that you will find in every country such as residence permits for students, employees and family members of residents and citizens.

Advantages of living in Cyprus:

-Taxes
-European Union (stable currency)
-Weather
-English language (not official)
-Low cost of living (Northern Cyprus)

Disadvantages of living in Cyprus

-Island small country
-Location
-Cost of Living (Cyprus)

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