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Relocation To Cyprus

Relocation to Cyprus – Everything You Need to Know

In recent years, relocating to Cyprus has become a popular choice for families across Europe and beyond. The island offers a high quality of life, geographic proximity to major regions, and an attractive tax system. Cyprus has also gained attention as a top destination for real estate investments, with affordable prices and high returns.

This guide provides an overview of Cyprus and what you need to consider for a successful relocation. For a detailed guide, click "Learn More."
Moreover, at Winest Group, we provide comprehensive support for clients in real estate purchases and relocation to Cyprus from A to Z. Feel free to reach out to us if you have any additional questions after reading the article.

Why Choose Cyprus?

Proximity: Close to many European countries, with short flights.
High Quality of Life: Peaceful, relaxed living environment with modern amenities.
Attractive Tax System: Favorable rates and potential savings after residency change.
Language: English is widely spoken, making it easier for expats.
International Education: High-quality private schools available.
European Nation: Benefits from EU membership.
Affordable Real Estate Prices: Compared to other European countries.

אשרת שהייה בקפריסין

1. ויזת תושבות (Temporary Residency – Pink Slip): מיועדת לשהייה ארוכת טווח בקפריסין, וניתנת לחידוש מדי שנה. יש דרישות לקבלת הויזה וחלק מהן הם הוכחת הכנסה קבועה מחוץ לקפריסין ולא ניתן לעבוד בשוק המקומי.
2. ויזת משקיעים (Permanent Residency – Category 6.2): ניתנת למי שרוכש נכס חדש בשווי של לפחות €300,000. גם פה יש צורך להוכיח הכנסה של 50 אלף אירו לאדם יחיד וכ-65 אלף אירו לזוג כהכנסה שנתית.
3. ויזת תושבות לדרכון אירופאיYellow Slip : מיועדת לאדם המחזיק בדרכון אירופאי ומעוניין לשהות בקפריסין יותר מ-90 ימים. תצטרכו להוכיח הכנסה מחוץ לקפריסין או שיש להם עבודה בקפריסין.
4. פתיחת חברה בקפריסין: ניתן לפתוח חברה בקפריסין ולהעסיק את עצמך בחברה. כמחזיק בדרכון ישראלי בלבד, יש להעביר כ-200,000 אירו לחשבון החברה וניתן להשתמש בכסף למשכורות, רכישת נדל"ן ועוד'.
5. ויזת עבודה: נדרשת למי שמתכנן לעבוד באי; דורשת אישור מעסיק מקומי

*אין לראות במידע המצורף כייעוץ או המלצה ועליכם לשוחח עם עורך דין קפריסאי על מנת להבין את הקריטריונים המלאים לקבלת ויזה המתאימה ביותר עבורכם.

It’s Not as Cheap as You Think

While Cyprus offers a high quality of life, it is not necessarily as inexpensive as many assume. Families moving to the island should plan carefully for their living costs. Key considerations include: Private Education: Costs between €600–€900 per child per month. For families with multiple children, this can add up to €2,000 or more monthly. Electricity and Medical Insurance: Often higher than expected. As a general rule, families renting homes in Cyprus should aim for a monthly net income of at least €6,000–€7,000, depending on family size and lifestyle. Cutting residency ties with your home country and paying taxes solely in Cyprus can result in significant savings – sometimes thousands of euros annually.

So that you can breathe again, I will explain that the big savings come when you terminate residency and pay taxes only in Cyprus. A family that terminates residency in their country and pays taxes only in Cyprus could save hundreds of thousands of euros a year.

Drawbacks to Consider

Limited Job Market

Local job opportunities are fewer compared to other European countries. Salaries are generally lower. Ensure secure employment before relocating.

Infrastructure

Public infrastructure development is ongoing, and some areas may lack the conveniences found in larger cities across Europe.

Healthcare

Public health services are less advanced than private ones. Private health insurance is recommended and often includes coverage for treatments in other countries.

Distance from Family

While Cyprus is close to Europe, living in a foreign country may limit frequent visits to your home country. Families should prepare for reduced travel opportunities.

How Can Our Support Help You?

Winest Group

Free Introductory Call and Process Preparation

We offer a complimentary personal consultation to better understand your needs and assess your eligibility for relocating to Cyprus. During this call, we will outline the steps involved in your relocation process.

Personalized Cyprus Tour and Connection to Professionals

We arrange tailored tours of Cyprus, focusing on the cities and areas that best suit your personal requirements. Additionally, we facilitate meetings with all relevant parties involved in the relocation process, ensuring you have access to the necessary professionals and services.

Finding Accommodation and School Enrollment

Whether you’re looking to purchase a property or rent initially, we help you find housing that fits your needs and budget. This stage takes place after we identify the most suitable location for you based on your specific requirements. We also assist with enrolling your children in international schools to ensure a smooth transition for your family.

A Moment Before Departure to Cyprus

We provide comprehensive assistance with final preparations in your home country, including: Managing Your Belongings: Coordinating the transfer of your household items to Cyprus. Insurance Purchases: Helping you secure the necessary health and property insurance. Vehicle Arrangements: Assisting with renting or purchasing a car for your new life in Cyprus.

Our team will also support you in: Opening a Bank Account: Guiding you through the process of setting up a local bank account. Company Formation: Assisting with the establishment of a business in Cyprus, if needed. Residency Permits: Helping you obtain the appropriate residency visa to ensure a legal and seamless move.

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