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How to immigrate to Cyprus

In order to immigrate to Cyprus from China, there are 2 main ways:

1.     To buy a property in Cyprus over 300.000 euro

This option will give a possibility to get status F – permanent residence permit

There are certain criteria that have to be fulfilled in order to get this permit. The most important one is for the person who will apply for it to proof income coming from abroad. Here is a list of all the requirements for status F.

There is a new law coming enforce allowing holders of status F to travel to EU countries without any visas. This will give a chance to travel/study anywhere in Europe.

2.     To incorporate a company in Cyprus

The second option can give 2 opportunities – either to have a normal tourist visa or multi visa with the possibility to leave in Cyprus up to 60 days every 6 months or to have a working permit – as a director of his/her own company

Cyprus has a considerable number of advantages to offer:

Tax benefits

  • Competitive and reputable international financial centre with tax advantages but distinguishable from other infamous tax heavens.
  • Lowest corporate tax rate in the European Union (10%).
  • Double tax treaties with a considerable number of jurisdictions.
  • No tax on dividends earned by Holding Company from subsidiaries when certain criteria are met.
  • Dividends of non tax resident shareholder are tax exempted.
  • Profits of companies not tax resident are tax exempted.
  • Profits from sale of shares in the stock exchange are tax exempted.
  • Shareholders who are tax resident may have their world wide income being taxed in Cyprus provided there is a double tax treaty.
  • No tax on the interest from bank deposits held by non tax residents in Cyprus .
  • Tax relief for group losers (Holding, subsidiaries, etc.).
  • No tax on group reorganizations (mergers or dimergers).
  • No capital gains tax in Cyprus on sale of immovable property held outside Cyprus if company is tax resident in Cyprus .
  • V.A.T. advantages.
  • Royalty income advantages.
  • Full adoption of E.U. directions.

* One of the Key features for a company to be considered as tax resident in Cyprus is that its management and control is exercised in Cyprus .

Other Benefits

There are lots of jurisdictions offering low or 0 tax rates but very few and maybe none apart from Cyprus may offer a combination of tax with a number of considerable other benefits such as:

  • Strong Economy.
  • Full member of the European Union.
  • Full member of the European Monetary Union.
  • Political stability with a presidential democracy political system. Both the president and the members of parliament are voted directly from the public.
  • Move profit to the Cyprus company so that you pay lower tax.
  • Confidentiality of the ownership of Cyprus companies through trustee services and the Cyprus International Trust while at the same time full security of beneficial ownership if offered.
  • Receive commissions with full anonymity.
  • Purchase property in other jurisdiction with full anonymity.
  • Highly advanced service sector (auditors, lawyers, bankers, tax experts).
  • Excellent banking system.
  • No exchange control restrictions.
  • Low set up and maintenance costs for companies.
  • Security with regards to the system relating to the acquisition of immovable property.

Here is a list of documents required for:

applying for Status F - permanent residence permit
applying for visitor status
applying for working permit, as a director of a company

 

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