According to the World Happiness Report for the year 2018, Cyprus ranked 61st among countries worldwide with a total score of 5.6 out of 10. In recent times, the Republic of Cyprus has attracted attention from various people around the world, whether for tourism, residence, or investment, as indicated in the report.
The strategic location of the island of Cyprus has a significant impact, as it is situated at the crossroads of three continents: Europe, Asia, and Africa. It occupies the northeastern part of the Mediterranean Sea, just 60 km south of Turkey, 90 km west of Syria, and 300 km north of Egypt. Additionally, the northwest of Cyprus is only 360 km away from the Greek island of Rhodes.
It is worth mentioning that Cyprus is the third-largest island in the Mediterranean Sea, after Sicily and Sardinia, with a total area of 9,251 square kilometres. Its capital is Nicosia, which is also the largest city on the island.
Life in Cyprus
Cyprus has a population of 1.244 million people, known as Cypriots. The Cypriot society is characterized by cultural diversity due to the varied origins of its population. The common languages spoken in Cyprus are Greek in the south and Turkish in the north. English is also widely spoken and understood, owing to Cyprus’s previous British rule and its tourism activities.
Key Cities in Cyprus
- Nicosia (Lefkosia)
The capital of Cyprus, with a history dating back to pre-Venetian times in the Middle Ages. Nicosia is known for its unique architectural structure, strategic location, and scenic nature. It offers one of the highest standards of living in the world.
- Limassol
This city is famous for the Limassol Castle, built centuries ago. The city is home to the Medieval Museum of Cyprus, housing tombs and pottery dating back to ancient eras.
- Larnaca
Known for its seafront and swaying palm trees, Larnaca hosts the second-largest port in Cyprus and is among the active tourist cities.
Cyprus Economy
In the 2020 Economic Freedom Index, Cyprus scored 70.1, achieving an overall increase of 2.0 points. This elevated its global ranking to 37th place. Factors contributing to this include the integrity of the government.
Within Europe, out of 44 countries, Cyprus secured the 22nd position. In recent years, Cyprus has maintained its status as one of the fastest-growing economies, driven by strong performance, the implementation of new and large-scale projects, and increased investor confidence.
Overall, the Cypriot economy is dominated by services, constituting 84.4% of the total value added in 2022. Industry accounted for 8.3%, construction 5.4%, and agriculture and fishing 1.8%. Tourism remains one of the most important and active sectors.
Education in Cyprus
All government schools in Cyprus use the Greek language as the medium of instruction and follow strict curricula. To address language challenges for all nationalities residing in Cyprus, government schools provide Greek language classes for non-speakers.
In private schools, English is the predominant language, with some offering additional languages such as Greek, French, and German. Private schools vary in terms of quality and fees.
Cypriot law mandates the enrollment of children in schools from the age of five until they are eligible for university or employment. The Cypriot education system, similar to that in Britain, consists of primary and secondary stages. The primary stage spans from age five to eleven, completing six years of schooling.
A mandatory preparatory stage, lasting one year, has been introduced for children before entering primary school, beginning at the age of three.
The secondary education system comprises two main stages: the preparatory stage, which is compulsory, and the secondary stage, which qualifies students for university or employment. However, students interested in vocational training or similar paths can opt to join technical institutes instead of completing the higher secondary stage.
Healthcare System
Cyprus is globally renowned for having the highest standard of medical research in the healthcare sector. The country’s healthcare system is continually improving, thanks to ongoing research and the introduction of new specialized medical services. The National Health Service (NHS) aims to enhance service quality and provide affordable healthcare to patients.
Cyprus boasts several specialized hospitals and is a pioneer in the European medical tourism system. This is attributed to its long-standing history in the field, being one of the first to attract Cypriots for natural medical treatments.
Investing in Cyprus
Cyprus is considered an ideal destination for those seeking stability and a comfortable, cost-effective lifestyle compared to other European countries. It is also attractive for those who wish to obtain permanent residency. Cyprus offers the opportunity to obtain permanent residency through real estate investment in one of the following pathways:
- Fast-Track Option
This option’s procedures are completed within 3-5 months in exchange for purchasing a real estate amount starting from 300,000 EUR or more. It is a prerequisite to maintain ownership of the property throughout life to retain the validity of permanent residency in Cyprus.
- Regular Option
In this option, the duration of the procedures is longer than in the fast-track option in exchange for purchasing a real estate amount at less than 300,000 euros. The process extends for no less than two years (other conditions apply).
The Permanent Residency Program in Cyprus through real estate investment offers the following benefits:
- Permanent European residency for all eligible family members.
- Ease of obtaining Schengen visa after obtaining Cypriot permanent residency.
- Enjoying tax exemptions and privileges.
- Possibility of acquiring citizenship with actual residence (conditions apply).
- Achieving a good financial return from real estate investment.
If you are interested in permanent residency in Cyprus, contact us to book a free consultation by clicking on the link here.
