The beaches in Cyprus are ranked the best in Europe. With a pleasant climate that attracts tourists year-round, Cyprus has become a prime location for property investment. Currently, the real estate market and housing prices are on a continuous upward trend, driven by ongoing developments on the island. This has encouraged many foreign investors to purchase properties before prices surge further.
On April 27, 2023, Cyprus' Council of Ministers revised the criteria for obtaining residency for non-European citizens. The government aims to attract foreign investors to bring capital into the country and contribute to its economy. Investments must come from foreign funds, with a minimum of €300,000 required without financing.
Consult a local lawyer for detailed advice and further information.
In 2020, Cyprus was ranked 5th globally as one of the safest countries in the world. The low crime rate encourages positive migration for both individuals and businesses.
According to an in-depth analysis by PwC, the total value of real estate transactions in Cyprus reached a record €5.2 billion in 2022, marking a 27% annual increase.
With over five daily flights from Europe and Israel to Cyprus, accessibility is effortless.
The construction of new marinas in Larnaca (Land of Tomorrow project) and Paphos, along with infrastructure improvements and urban development in key cities, has significantly increased property values in these areas.
The most luxurious casino in Europe and the Middle East, opened in July 2023, draws tourists from across Europe and the region. Its opening has created new job opportunities for locals and strengthened the economy.
Thanks to Cyprus' low corporate tax rate, many tech companies have established branches on the island. This has led to positive migration of tech professionals, improving the local economy and population quality.