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Cyprus Country Profile

Passport
For more details visit Cyprus Passport Ranking
  • Passport Grade
    B+
  • Passport Ranking
    51/198
  • Passport Score
    153.1/198
  • Visa-free Countries
    151
  • Visa-required Countries
    47
  • Access to the World's GDP
    48%
  • Access to the World's Surface Area
    51%
  • Access to the World's Population
    39%
  • Access to the Unesco Sites
    74%
Citizenship and Naturalization
Birthright citizenship (Jus Soli)
  • Birthright citizenship (Jus Soli)
    No
    No provisions
Naturalization - Standard Conditions
  • Minimum residency period
    7 years
  • Physical presence requirement
    Must stay the entire 2,555 days (7 years) on the ground. Last 12 months must be continuous
  • Language test
    No
  • Need to renounce original citizenship?
    No
  • Can minor children naturalize?
    –
  • Can naturalized parents pass citizenship to a child born abroad?
    –
  • Can you lose naturalization due to prolonged absence/ naturalization elsewhere?
    –
Naturalization - Your Spouse is a Citizen
  • Living IN the country: Residency/marriage requirement
    2 years / 3 years
    Must be married for 3 years, and reside in the country for 2 year.
  • Living ABROAD: Marriage requirement
    3 years
    Can reside abroad, but must "justify why do you need citizenship". If you have been married for 5 years and have a common child, no justification is required.
  • Language test
    No
  • Need to renounce original citizenship?
    No
Naturalization - Other Beneficial Provisions
  • Your child is a citizen
    5 years
    May apply after being married for 5 years and having a common child, including from abroad. The process is faster if you live in Cyrpus.
  • Citizens of specific countries
    –
"–": The provision has not been analysed.
Visas and Residencies
Visas and Residencies
Taxation
For more details visit Cost of Living
  • Taxation Type
    Residence-based
A tax resident of a country with a RESIDENCE-BASED tax system pays taxes on their WORLDWIDE income. However, if you lose tax residency status there (e.g., by moving out), the country will generally stop taxing you.
Schiff Sovereign's Take on Cyprus
Cyprus is a unique place: it’s located at the crossroads of Europe, Asia and Africa. And for centuries, it’s been a coveted trophy for conquering nations.

Almost everyone on the island speaks English; the legacy of it being an English colony. So if you are looking for an English-speaking environment (and an amazing climate), Cyprus should suit you well. 

The country offers excellent education facilities, with several UK universities having campuses on the island.

Populated mostly by ethnic Greeks, Cyprus also boasts a substantial Turkish population.

Tension between the two groups led to outright conflict in 1974, and to the division of the island into two different countries – The Republic of Cyprus (Greek), and the unrecognized Northern Cyprus (Turkish).

We’re focusing on The Republic of Cyprus – a member of the European Union.

If you’ve been reading Sovereign Man for a while, you’ll know that we’re no fans of how the Cypriot government handled its 2012 banking crisis. Without warning, officials declared a bank holiday, froze depositors’ accounts, and severely restricted ATM withdrawals and wire transfers.

That example was the first countrywide bail-in – a process forcing bank depositors (and not the government) to pay for the stupid financial decisions made by their banks and their government. Consequently, we personally wouldn't hold any substantial amounts of money in Cyprus. 

At the same time, the country can be an amazing residency option. Its Golden Visa is an attractive option that gives you immediate permanent residency. Alternatively, you can choose another residency option that requires no investment at all.  

Up until 2020, Cyprus also offered a Citizenship By Investment program, but it was shut down due to allegations of corruption and pressure from Brussels.

In terms of its taxation, with a top tax rate of 35% on personal income, Cyprus does not look like a tax haven. Yet, Cyprus can be very tax efficient depending on your situation. The Cypriot government offers many tax breaks and exemptions for expats relocating to the island. 

Even if you end up spending more than six months per year on the ground (enough to make you a tax resident there), you will likely pay no taxes to Cyprus on your worldwide income. 

If island living and low (or no) taxes on your worldwide income sounds appealing, Cyprus could be an option.
Schiff Sovereign's Rolodex
Service Providers available in Cyprus
  • Immigration (residency, citizenship)
  • Citizenship by Ancestry
Obtain access to our Rolodex by signing up for Sovereign Confidential Join Sovereign Confidential Today

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Cyprus Overview
  • Region
    Europe
  • Capital City
    Nicosia
  • Largest City
    Nicosia
  • Currency
    Euro
  • Languages
    Greek, Turkish
  • Population
    918.1 thousand (161st)
  • Life Expectancy
    79.7 years (53rd)
  • GDP (Nominal)
    $26.7 billion (113th)
  • GDP/Capita
    $29,087 (44th)
Useful Data
For more details visit Cost of Living
  • Cost of Living
    Moderate (4/7)
  • Climate
    Very comfortable (1/5)
  • Safety
    Very Safe (2/7)
  • Pollution
    Average (3/5)
  • English Proficiency
    High (2/5)

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PREMIUM REPORTS
Cyprus inside Schiff Sovereign resources

Articles featuring Cyprus

Cyprus
Trends & News

Cyprus STILL has "an emergency situation". And capital controls

April 9, 2014 Santiago, Chile Imagine that your country and banking system are so broke that you have to receive approval from a special committee just to send your own money to your kids who are away at university… Crazy, right? But that’s exactly what’s going on in Cyprus. And it all happened overnight. Just […]
July 12, 2013 Nicosia, Cyprus
Trends & News

On the ground in Cyprus: Capital controls still in effect

July 12, 2013 Nicosia, Cyprus It’s been said that goldfish have the shortest memory of any animal– only about three seconds. But a few years ago, scientists from Israel’s Technion Institute of Technology conducted an experiment which put to rest this erroneous myth. Based on their research, it turns out that goldfish have a memory […]
Cyprus Residency By Investment Program 2022
Second Residency

Getting PERMANENT Residency By Investment in Cyprus

Looking for an alternative to the Portuguese Golden Visa in an idyllic island location? Offering residency for up to THREE generations of family members with a single €300,000 investment, Cyprus’ Residency By Investment program packs a punch. Let’s get into the details below. The Republic of Cyprus is an island nation situated in the eastern […]
Cyprus
Trends & News

Cyprus: Despite 16 months of capital controls, banks still pitifully capitalized

July 14, 2014 Istanbul, Turkey It’s been over a year since the banking system in Cyprus officially went bust. On Friday, March 15, 2013, practically everyone in the country went to bed thinking that everything was just fine. Many had probably gone to the bank that very day to do business, or logged on to […]

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