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Introduction to Cyprus Relocating to Cyprus Citizenship in Cyprus: financial contribution Citizenship in Cyprus: real estate

Cyprus overview

Cyprus is an island country in the Eastern Mediterranean and the third most populous and largest island in the Mediterranean. It is located north of Egypt, west of Syria and Lebanon, south of Turkey, southeast of Greece and northwest of Israel and Palestine.

General information

Population1,141,166
Official languageGreek, Turkish
Area9,251 km2
Ethnic groupsGreek Cypriots
Turkish Cypriots
Armenians
Maronites
CapitalNicosia
GovernmentUnitary presidential constitutional republic
GDP (PPP)$29.666 billion
CurrencyEUR
ISO codeCY
Time zoneUTC +2
Summer time: UTC +3
Citizenship by financial contributionFrom 2 000 000 EUR
Citizenship by real estateFrom 2 000 000 EUR

Climate and culture

Cyprus offers a subtropical climate with warm to hot summers and very mild winters (on the coast). Snow is seen only in the Troodos Mountains in the central part of island. Summers are generally dry and rain occurs mainly in winter.

The majority of Greek Cypriots identify themselves as Greek Orthodox, whereas most Turkish Cypriots are adherents of Sunni Islam. According to Eurobarometer 2005, Cyprus was the second most religious state in the EU at that time, following Malta.

Immigration and tourism on Cyprus

Tourism in Cyprus takes a dominant position in the economy. Moreover, it has greatly affected Cyprus culture and multinational development throughout the decades. In 2006, the tourism industry generated 5,445 million USD or 10.7% of the GDP and 113,000 jobs. With approximately 3 million tourist arrivals every year, it is the 40th most popular destination in the world and ranks 6th in terms of per capita. More than 80% of visitors come from Western Eastern and Northern Europe, while British tourists remain the most common.

Cyprus also offers citizenship by investment programme that is established by Cyprus Developers Alliance jointly with KPMG. The programme offers a second citizenship in exchange of 2 million EUR to be invested in real estate for 3 years. The citizenship is granted within 3 months. This program has attracted over 3 billion euros of direct investments into the economy of the Republic of Cyprus.

If you want to relocate to Cyprus: check available immigration programs here.

Major features

Cyprus is an advanced, high-income economy with a very high Human Development Index. When considering a country for doing business or for a second citizenship, there are numerous advantages that Cyprus can offer: people are friendly and speak English, Cyprus offers favourable taxation laws and incentives, citizens as well as visitors can enjoy high standard of living, excellent transport and telecommunication network as well as rich history, beautiful nature and great entertainment and nightlife. Cyprus is often chosen as a holiday and retirement destination.

If you want to know more about Cyprus: read here.