• Location：The 3rd largest island in the Mediterranean, located East of Greece and South of Turkey.
• Currency: Euro
• Land Area：9，251 Square Kilometer
• Education: Commonwealth Education System
• Population： 900,000
• Famous Colleges: Cyprus College, Global College, Inter College, InterNapa College
• Official Languages：Greek, Turkish, and English
• Time difference from Beijing: Winter -6，Daylight Savings time -5
Cyprus is the third largest island in the Mediterranean and a member of the European Union. It is also the world’s tenth largest shipping port. Dating back to ancient times, Cyprus’ unique location has made it a trading hub for Europe, Asia and Africa. After joining the EU in May of 2004, Cyprus has continued to maintain close economic and cultural ties to the other member-states.
Cyprus has a typically beautiful climate of the Mediterranean, having sun an average of 90% of the year, with average temperatures ranging from 12-28 degrees. This pleasant climate and renowned natural scenery has made Cyprus a Mediterranean tourist destination to rival all others, with regular visitors year-round, it is among the top vacation spots in the region.
Cyprus rumored to be the original home of the Greek Goddess of love, fertility, beauty and pleasure, Aphrodite, known as Venus to the Romans.
With ample sunshine, fruit, vegetables, and other and other crops yield bountiful yearly harvests. The picturesque Mediterranean location also yields ample sea food. Looking back 3,000 years, the island’s history is wrought with foreign domination and trade with merchants and businessmen from all over the world. As each of these competing world travelers arrived on Cypriot shores, they brought with themdiverse cooking techniques, knowledge of the unique flavors and spices from Europe and Asia, and as a result shaped the unique food culture that the Cypriots possess today. Additionally the island proudly produces wine and coffee, staples enjoyed the world-over.
Regarding economic freedom, Cyprus has made a name for itself with no exchange controls or inheritance taxand the lowest corporate income tax (only 10%) of any member of the EU. With such a relaxed financial environment, it is no wonder the island has quickly gained fame as an EU tax haven.
Cyprus sports a naturally beautiful environment rich in natural resources. Coupled with its membership in the European Union, it provides unique purchasing opportunities with its immigration programs unlike any other. This it has become one of the more popular European nations for immigration purposes.
The History of Cyprus–In the Commonwealth’s Backyard.
It is safe to say that the modern history of Cyprus is a colonial one. Cyprus was first incorporated into the Roman Empire in 30 BCE and was later vested to the Byzantine Empire from 330 AD to 1191. In the Third Crusade the island came under occupation by French and Venetian crusaders until it was lost to the Ottoman Empire in 1570. In 1878 it was formally conceded to the United Kingdom, and in 1925 to become a Crown Colony.It was not until August 16, 1960 that the Cypriots formally declared their independence, establishing the Republic of Cyprus on the South West portion of the island. Though the latter part of the 20th century proved divisive for the island, in 2008 the Greek and Turkish-controlled portions of the island were united once more.
Resulting from the shared historical ties with the United Kingdom, Cyprus has emerged a preferred resort and vacation destination for the British. In the island’s many attractions and major hotels one can easily identify traces of the British culture. In recent years, the acquisition of property for vacation homes and other purposes has grown popular among other EU citizens and the British.
Cypriot Culture –An Aegean Cultural Microcosm and the Birthplace of Aphrodite
Culturally speaking, Cypriots owe much to the Greeks. Greeks began to migrate to the island during the Bronze Age (around 1400 BCE) and towards its collapse, giving the island its predominant origin from Greece. Hence many contemporary Cypriots still have strong feelings of patriotism towards Greece, with Greek being the island’s first official language, along with Turkish.
Greek origins are also apparent in the religious culture, architecturally, as well as gastronomically. In Cyprus, the Temple of the Sun God Apollo,Paphos Castle, and countless mosaics serve as popular tourist attractions preserved as UNESCO World Heritage sites. As visitors and locals sit beside the beautiful Cypriot beaches they can look back upon the neatly lined streets framed with many old and famous restaurants, as throngs of food-lovers converge to enjoy the delicacies of Aegean cuisine.
Today most Cypriots are of the Greek Orthodox faith.Their conservative and devout lifestyles have bread a community valuing honesty and hospitality helping make Cyprus the comfortable and safe tourist destination that it is today. It boasts the lowest crime rates in the EU.
The Cypriot Economy –A European Start-Up of Sorts
After joining the European Union in May of 2004, Cyprus adopted the Euro in 2008, and maintains a very liberal economic environment. These policies, in combination with the small-scale nature of the country makes it a start-up of sorts, as far as countries go.
1.2011 GDP per capita of Cyprus: 21,700 euros. These levels were higher than Portugal, South Korea , Saudi Arabia and other established economies.
2. Plug inflation rate was about 1%, far below the international level.
3.In the 2011 World Investment Environment rankings, Cyprus ranked37th out of 183 countries.
Cyprus and the EU –Today the EU, Tomorrow the Schengen
Cyprus joined the EU in May 2004, adopting the Euro in 2008.Though Cyprus is not yet a member of the Schengen Area, the nation is legally obliged to join, as has agreed. The induction into the Schengen Agreement is pending and expected to be implemented by 2016.
The surrounding waters of Cyprus have thirteen gas field explorations, which has concluded there are sufficient reserves in the area to last Europe 100 years.As a result of these findings, the EU has expressed hopes that they may take collective advantage of these reserves. Though current development is slow, further oil and gas extraction would greatly contribute to the tiny nation’s wealth.
By the time resource extraction is developed on a larger scale, Cyprus is expected to have implemented the Schengen agreement.Green Card holders in Cyprus will have access to nearly thirty EU and Schengen nations visa-free.Immediate family members will also have access to the EU’s social services and world-respected education.
Immigration Advantages for Cyprus
• 1) Cyprus – AEU Member State，Schengen Area soon to follow
• 2）Mediterranean holiday destination rich with Aegean culture
• 3）Shared history of the Commonwealth，British-quality Education
• 4）Minimum tax for EU，one of Europe’s Tax Heavens
• 5）A pioneer in property-based immigration，well-established policies
• 6）The Euro down by 20%, best timing for investors
• 7）Fully-furnished Freehold properties withsubstantial return on investment
• 8）3 month Green Card application process，simple and convenient for the whole family
Cyprus Property-Immigration Application Conditions
Since joining the EU in May 2004 a large number of foreigners, especially the British and the Russian retirees,haveinvested in Cypriot real estate for business, vacation, or retirement related reasons. A variety of real estate developers have taken advantage of this tremendous opportunity to develop an adequate housing supply to accommodate the island’s popularity. As a result housing value has increased.
• Applicants must be at least 18 years of age, with no criminal record;
• Must purchase the equivalent of 300,000 Euro or more in Cypriot real estate. Investors are welcome to by 2-3 different properties, amounting to 300,000 Euro or more (please see page 12 on related taxes)
• Investor must deposit in their own name no less than 30,000 Euro at a Cypriot Bank, freezing said deposit for a minimum of three years.
• The principle applicant must be able to demonstrate the authenticity of their name, and an annual income of no less than 30,000 Euro. The minimum annual income requirement will increase $5,000 USD per each additional beneficiary of the applicant.
• Principle applicant, and beneficiaries, may find employment in Cyprus but may not set up a new enterprise.
• Principle applicant and beneficiaries must visit Cyprus every two years for a minimum of 1 week.
Cyprus Property-Immigration Application Process