Some people can’t stand the cold, and the freezing winter is a real challenge for them. Cyprus is a place where it is impossible to freeze; here, summer lasts all year round. The climate is not the only reason people are drawn to the island of Aphrodite. One needs family ties or to be born on the state’s territory to settle. However, the fastest way to get a passport is through an investment program, which guarantees that your documents will be reviewed as soon as possible and secret information about you will not get out.
So, what are the prospects for life on a sun-drenched island, and why is it worth it to realize the desire to acquire two national passports at the same time?
What is Cyprus Permanent Residence?
Let’s consider the concept of permanent residence; it includes the legitimacy of living in a resort area surrounded by the Mediterranean Sea. In addition, every person who has applied with documents for the Cyprus PR program and waited for government approval can open a new business or be officially employed without any problems. Unlike the residence permit, there is no need to renew this card often. It is issued for two years and does not require living in a corner of paradise. However, you will surely want to get the most out of the permanent residence.
Advantages of Cyprus PR
The Cyprus PR benefits and list of positive aspects of life in the nation are:
- Climate, nature, and environment with beautiful landscapes, diverse flora, and fauna. Mountains, beaches, forests, and valleys are all found in Cyprus.
- The country is one of the safest in the world. It has a low crime rate, which makes life in Cyprus comfortable and safe.
- Cultural heritage: The island has many historical and cultural monuments and museums.
- High-quality education in various fields of knowledge.
- One of the best healthcare systems in Europe, where high-quality medical services are offered.
- Economic growth is attractive to internationalists.
According to Victor Awunudo (agency Imin Cyprus), the state is one of Europe’s best places to buy property. The island offers a wide range of residential and commercial properties at affordable prices.
Living and Working in Cyprus
Let us note the main Cyprus permanent residence advantages for doing business. This is the absence of income taxes for residents and the low cost of real estate, which is a huge plus and guarantees the prospects for the future. Life on the island is generally characterized as favorable for education, full medical services, and complete recreation on the beaches or mountains.
Access to Education and Healthcare
Residents have access to education and medicine on par with natives. They can freely attend public schools and universities and receive medical care at public and private facilities. To receive health care, foreigners must register with the social security system and obtain a medical card. Internationalists are also entitled to benefits and discounts on educational and medical fees.
Travel Privileges within the EU
The right to travel freely within the European Union without a visa for up to 90 days within 180 days is provided. Even with closed borders, this rule does not change.
In addition, with residency, access to medical care in other EU countries is open.
Investment Opportunities
The investor’s options are limited to purchasing real estate worth at least 300 thousand euros, and the payments must be made through a banking institution in Cyprus. More than half of the funds are paid out immediately, and the rest is divided for the applicant’s convenience. Any residential and office space up to 250 square meters is available.
Disadvantages of Cyprus Permanent Residence
In addition to the pros of Cyprus PR, there are some minuses, but they are minor to give up living in a highly developed country. To begin with, the traffic system is a little out of line with the traditional one, although the roads are repaired. If you want to go to the market or the store on a Wednesday or Saturday, you will unlikely be happy with a closed door. Prices for utilities are sometimes inflated, but when you compare these disadvantages to the other pluses, they are insignificant.
Conclusion
Thus, the island, which connects several continents, is a tidbit of land for residents of nonunion countries. The island has no restrictions on travel and no strict need to stay in the territory. And the pluses definitely outweigh the minuses of moving to the best conditions and providing the family with a backup plan for the future.
