#Community Issue 48 November 2021 November 2021 | Page 64

INTERNATIONAL INVESTMENT

CYPRUS ’

PERMANENT RESIDENCY PROGRAMME

IS THE BEST IN EUROPE !

62 C Y P R U S
The timing is perfect to put a plan in place for you and your family to secure a Plan B . Nothing is more expensive than a missed opportunity . Cyprus – an English-speaking , ex- British colony and full member of the EU – has the quickest , most inexpensive and most attractive permanent residency programme available in Europe .
Fast Track Residency Programme
The FAST TRACK residency programme currently has the following nine benefits and predominant differentiators to the EU residency programmes on offer in Greece , Malta , Portugal and Spain :
1 . It is the most affordable residency programme in Europe
• an investment in a residential property secures permanent residency permits for the whole family ;
• only two-thirds of the purchase price needs to be paid upfront before the application process can begin ( all other countries require full payment to be made ); and
• finance can be secured in Cyprus for the balance . 2 . Dependant children up to the age of 25 qualify ( as long as they are full-time students ). 3 . Both sets of parents AND parents-in-law qualify . 4 . Everybody ’ s residency permit is FOR LIFE – the permits automatically renew every year . 5 . It only takes 8 – 10 weeks for the residency permits to be processed
‘ The best time to plant a tree was 20 years ago . The second-best time is now .’ – Chinese Proverb
and approved . 6 . No need to stay / live in Cyprus : except to visit the country one day every two years – so you can continue to live and work in South Africa while retaining your EU residency status . 7 . No minimum annual tax levied for your residency permit to remain valid ; and Cyprus ’ personal and corporate tax rates are the lowest in Europe . 8 . No inheritance tax : this is highly advantageous for legacy planning . 9 . The annual property-ownership costs ( council taxes , levies , rates , etc .) are one of the cheapest in Europe .