Why Choose Cyprus?
Cyprus continues to be one of Europe’s most attractive destinations for individuals, entrepreneurs, investors and international businesses seeking a high quality of life together with a competitive business and tax environment.
Some of the many reasons to consider relocating to Cyprus include:
- More than 300 days of sunshine each year.
- Over 60 Blue Flag beaches.
- One of the safest countries in Europe.
- High-quality private and public healthcare.
- Excellent education, from primary schools through to internationally recognised universities.
- English is widely spoken and is widely used in business.
- Full membership of the European Union and the Eurozone.
- Modern legal and regulatory framework based on English common law principles.
- Competitive tax system for both individuals and businesses.
- Excellent infrastructure and telecommunications.
- Strategic location connecting Europe, the Middle East and Africa.
Cyprus successfully combines an established international business environment with an exceptional lifestyle, making it particularly attractive for entrepreneurs, international executives, high-net-worth individuals and families.
Immigration and Residency
European Union, EEA and Swiss nationals enjoy freedom of movement and may live and work in Cyprus in accordance with the applicable EU legislation.
Non-EU nationals also have a number of immigration options available, including residence permits, employment permits, permanent residency programmes and other routes available under Cyprus immigration legislation, subject to meeting the relevant requirements.
Acquiring Property in Cyprus
Cyprus offers a well-established legal framework governing property ownership and transactions.
EU nationals may generally acquire property without restrictions, while non-EU nationals may purchase property subject to the applicable approval procedures and legislative requirements.
Whether purchasing a holiday home, family residence or investment property, Cyprus offers a wide range of residential and commercial opportunities.
The Cyprus Non-Dom Tax Regime
Individuals who become Cyprus tax residents may also qualify for the Cyprus Non-Dom regime, one of the country’s most attractive tax incentives.
Subject to meeting the relevant conditions, qualifying individuals may benefit from:
- No Special Defence Contribution on dividend income.
- No Special Defence Contribution on interest income.
- Significant tax advantages for investment income.
- Non-Dom status for up to 17 years.
Cyprus Holding Companies
Cyprus continues to be recognised as one of Europe’s leading holding company jurisdictions.
A Cyprus holding company can offer a number of significant advantages, including:
- Competitive corporate tax regime.
- Extensive double tax treaty network.
- Participation exemption on qualifying dividend income.
- Exemption from tax on qualifying gains from the disposal of securities.
- Efficient corporate and legal framework suitable for international group structures.
Additional Advantages of Living and Doing Business in Cyprus
Further benefits include:
- Democratic and stable political system.
- Strong legal framework based on English common law.
- Highly qualified multilingual workforce.
- Modern banking and professional services sector.
- Excellent air connectivity.
- High standard of living.
- Safe environment for families.
- Attractive lifestyle combining business opportunities with Mediterranean living.
Whether you are considering relocating your family, establishing an international business, investing in Cyprus or planning your long-term tax residency, Cyprus offers an attractive and well-balanced solution.
How UHY Can Help
Relocating to another country involves legal, tax, immigration and practical considerations.
Our experienced team can provide comprehensive assistance with:
- Immigration and residency applications.
- Permanent residency and citizenship planning.
- Cyprus tax residency advice.
- Non-Dom planning.
- Company formation and corporate structuring.
- Property acquisitions.
- Accounting, tax and compliance services.
- Ongoing business and personal support after relocation.
For more information on how we may assist you, please contact us at uhy@uhy.com.cy or call +357 22379210.
The contents of this publication are provided for general information purposes only and should not be regarded as legal, tax or professional advice. Specific advice should always be obtained based on your particular circumstances before taking any action.