BENEFITS OF HOLDERS OF IMMIGRATION PERMIT:

1. By obtaining Cyprus IP, the applicant will become resident of an EU member country.
2. One of the easiest procedures in EU to get the IP. Simplified and fast procedure to obtain the permit.
3. Cyprus is one of the few countries in Europe where foreign investors can automatically get permits through the acquisition of real estate.Property prices in Cyprus fell abruptly over the quarter recording their sharpest fall since 2010. Property price reductions make Cyprus an attractive place to buy low cost luxury property.
4. Applicants do not need to pay the full amount of purchase price of the property in order for the procedure to be initiated.
5. No immovable property tax is imposed on the immovable properties from 1^st of January 2017.
6. Sale or purchase contracts concluded on or after 02/12/2011 and which are subject to VAT will be exempt from transfer fees and those contracts which are not subject to VAT will be eligible for a 50% exemption from the transfer fees.
7. In contrast to other countries, according to Aliens and Immigration Law and Regulations, immigration permit in Cyprus is granted for an indefinite duration.
8. The IP holders do not need to live in Cyprus, just to visit it at least once every two years (at least for 24 hours).
9. Some countries categorise applicants as EU students if they hold IP permit in any state of the EU and thus IP holders enjoy lower tuition fees.
10. CY IP holders will have the right to travel without visa in some countries of EU. When Cyprus enters the Schengen Zone of Europe, CY IP holders will travel freely through Europe.