Important news! ! !
The permanent residence policy of Cyprus ushered in a major adjustment in May this year.
Some people are happy and some are worried. Let's take a look at the main changes in the New Deal!
A family of three generations becomes the second generation
According to the latest revision of the permanent residence policy in Cyprus, the main applicant, his spouse, minor children under the age of 18, and children aged 18-25 who are studying at university can enjoy the permanent residence benefits of Cyprus, while the parents of the main applicant and Their spouse's parents can no longer accompany them as dependent applicants.
Review process shortened to 2 months
According to the announcement issued by the Cyprus official, if the applicant meets all the requirements of the policy and has no criminal record or reasons against public order and public safety, the application will be submitted to the Ministry of the Interior for review and final decision. The review process is expected to be approximately two months from the date of application submission.
Compared with the past, the New Deal has greatly shortened the waiting time and reduced the time cost.
Investment remittance methods increase
According to the new policy, applicants can use not only personal accounts but also company accounts they own when making fund transfers.
It is important to emphasize that a corporate account is only available if the applicant and/or his/her spouse are the sole shareholders of the account (if the spouse is also applying). In the old policy, there was no clear emphasis on the use of corporate accounts.
Need to submit tax certificate
The income of the applicant is not limited to legal fixed income such as wages, rent, dividends and pensions. The annual review of the source of funds is canceled, but the applicant is required to provide proof of income related to taxation.
Applicants can prove their annual income by submitting their country of residence tax return or an official certificate recognized by a chartered accountant.
Migration advantage
Excellent social welfare and comfortable life
Cyprus is a member of the European Union with a developed economy, low cost of living, leading housing conditions in Europe, sound medical security services, public hospital health care costs and personal health insurance costs are very low.
Low tax rate to avoid double taxation
Cyprus has very low taxes and has signed agreements to avoid double taxation with more than 40 high-tax countries. In Cyprus, corporate income tax is only 12.5%.
Social Security and Stability
Cyprus is one of the safest countries in the world, with very stable social security and low crime rate. Residents rarely install anti-theft doors and windows in their homes.
Long history and beautiful environment
Cyprus is a fantastic country rich in cultural heritage.
Ancient villages, temples, palaces, columns, fortresses and mosaics can be seen all over Cyprus, many of which are listed as UNESCO World Heritage Sites.
Cyprus is located in the Mediterranean Sea. It is a beautiful sunny island. It is like spring all year round and has beautiful scenery. It is a world-famous tourist destination. In Cyprus, you can enjoy life to the fullest!
Cyprus, an ideal country admired by many elites!
If you are also interested in this country and eager to learn more about it, welcome to contact Xingyunhai International! We will provide you with a full range of professional services, so that you can enjoy the ideal life in Cyprus!
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