‘All-year sunshine’ British expats moving to Cyprus for ‘best fast-track’ residency option

31/01/2022

CYPRUS is a popular destination for British expats. Express.co.uk spoke to an expert to find out why.

Located in the Mediterranean sea, the island of Cyprus is renowned for natural beauty and stunning beaches. It’s not hard to see why British expats are keen to settle there.

Pantelis Leptos, co-president of Leptos Group of Companies, told Express.co.uk: “There are approximately 70,000 British expats living in Cyprus.

“Permanent residency status in Cyprus can be obtained through the Permanent Residence Program.

“It’s arguably the best fast-track program in Europe and permits foreigners to acquire an Immigration Permit through property investment.

“It’s a wonderful opportunity where you can invest as little as €300,000 (£250,000) in a new property and get Cyprus permanent residency in 60 days.

“You can also apply for Cyprus citizenship and a Cyprus passport after seven years. The Cyprus Permanent Residence Permit covers the whole family including dependents and parents of the applicant.

“It is valid for life and there is no need for future reconsideration, you only need to visit Cyprus once every two years for at least one day.”

Pantelis said: “A highly attractive benefit of Cyprus Permanent Residency for non-EU nationals is the ability to travel within the EU. The permit will grant them the right to visa-free access to a number of Schengen countries.”

There are 26 countries within the Schengen zone, including popular destinations such as Spain and Portugal.

Currently British citizens can visit the Schengen zone for 90 out of every 180 days and should get their passport stamped on entry and exit.

Pantelis told Express.co.uk: “English is very widely spoken in Cyprus and the affordable cost of living makes the island a favourite for retirees, business owners and expats.”

But where are the best areas for British expats to buy property in Cyprus?

Limassol is a popular destination for expats in Cyrpus (Image: Getty)

Pantelis said: “The vibrant city of Limassol has become an attractive destination for Brits.

“Popular among high net worth individuals, retirees and expat families who choose to relocate for education, lifestyle, tax and business purposes, the city is also a magnet for new companies and global creative professionals.

“For Brits, Limassol offers a cosmopolitan place to live with nearly all-year sunshine.

“In Limassol there are plenty of international schools, a great healthcare system and we even drive on the same side of the road!”

 

Source: https://www.express.co.uk/travel/articles/1552401/british-expats-cyprus-property-residency-scheme-exclusive