payment is determined
The Republic of Cyprus is an island state, which is often considered by residents of Russia as a permanent place to live or to periodically visit. This country has a favorable climate, beautiful nature and a high level of social development. The state is part of the European Union. Legal stay on its territory gives a person the status of a real European.
Benefits of obtaining a residence permit
A residence permit in Cyprus has its own name – Pink Slip. To date, the procedure for obtaining a residence permit in South Cyprus has been simplified as much as possible and does not take much time. Moreover, the amount of investment in real estate is significantly less than when obtaining citizenship of this country. This process provides a person with a number of significant advantages:
the obtained residence permit applies to all family members: spouses and joint minor children;
in the future it will be possible to apply for citizenship (subject to permanent residence in the country for 5 years over the last seven-year period); Continue reading
The acquisition of real estate in Cyprus is in demand among foreign citizens who are absolutely not afraid of the high cost of housing. Prices, on the contrary, attract potential buyers who want to buy an apartment, apartment or house in a country where there is no crime, a favorable climate, beautiful nature, quality of life and excellent business development opportunities. But foreigners who buy studios, apartments, villas, apartments in residential complexes must, before concluding a transaction, study the specifics of the tax payment system.
Types of taxes
When buying property in Cyprus, foreign citizens are subject to local tax laws, according to which the following types of fees must be paid:
A one-time payment when the registration of property rights takes place.
Special stamp duty (payable once).
Property tax that the owner of a particular type of housing will have to pay every year. Continue reading