Permit holders in Cyprus have access to several advantages. These include the ability to live freely in Cyprus, the opportunity to own a business or create a Cypriot intermediary company for export trading, and the ability to utilize the country’s favorable tax laws. Cyprus has a low corporation tax rate of just 12.5% on net profits, making it an efficient gateway for channeling foreign investments. By invoicing all exports through a Cyprus company and accumulating most profits in Cyprus, permanent residents can benefit from the tax and also from the 0% tax on dividends.
The chance to become an EU citizen is an extremely desirable opportunity, which can be achieved by holding permanent residency in Cyprus for at least seven years, in accordance with legal requirements and fulfilling certain criteria. EU citizens are able to live anywhere within the EU, can access first-class healthcare and are able to pursue education (including scholarships) within the region. It is also beneficial in traveling elsewhere, such as the US where visas are granted to EU citizens with ease.