|Applicants||Governmental Application Fee for the Residence Permit||
Governmental Issuance Fee for the Residence Permit Card
|Main Applicant||EUR 500||EUR 70||EUR 570|
|Spouse of main applicant||-||EUR 70||EUR 70|
|Adult child of main applicant||EUR 500||EUR 70||EUR 570|
|Minor child of main applicant||-||EUR 70||EUR 70|
|Parents & parents-in-law (per person)||EUR 500||EUR 70||EUR 570|
Fee related to acquiring the Real Estate
|Lodging the Power of Attorney with the Land Registry (if required)||EUR 50|
|Lodging the Contract of Sale with the Land Registry||EUR 50|
Once the Contract of Sale is executed between the vendor and the purchaser, the Contract must be stamped within thirty (30) days. The stamp duty varies in accordance with the purchase price of the immovable property, and is
Rate of Stamp Duty
|€0 to €5000.||0%|
|Over € 170,001||0.20%|
Value Added Tax
As of 13/01/2014, Value Added Tax (VAT) at the rate of 19% is added to the purchase price. The acquisition or construction of property to be used as the primary and permanent residence may be subject to the reduced rate of 5%.
Conditions applicable for the reduced VAT rate are as follows:
The reduced VAT rate of 5% applies on the first 200 square meters of the property as per the architectural plans (building coefficient), whereas for the remaining square meters the standard VAT rate of 19% is imposed. In cases of large families the reduced VAT rate of 5% is applicable for the first 200 square meters increased by 15 square meters per each additional child over three children.
Income Tax: Individuals
|Taxable Income €||Tax Rate %||Tax €||Cumulative Tax €|
|60001 & over||35|
Income Tax: Companies
Healthcare in Cyprus is cheap and effective, and is another reason many expats relocate to the island.
The Cyprus healthcare system is divided into public and private sectors. Public healthcare is either inexpensive or free, at least for citizens of the EU, and private healthcare costs can be quite affordable too.
Public healthcare in Cyprus
Public healthcare in Cyprus is administered by the Ministry of Health and financed by taxes. Expats who are permanent residents in Cyprus or EU citizens are eligible for free state healthcare. Expats can receive a state medical card when they register for social insurance.
The ministry places patients into one of three categories: people who receive treatment free of charge, those who pay reduced fees and those who pay fully. This is based on income, chronic illness and number of children.
Private healthcare in Cyprus
Non-EU residents who are unable to take advantage of state health benefits, or expats who prefer to take out private health insurance, should pay careful attention to the healthcare plan they sign up for.
Many expats choose to take out a private healthcare policy to access a wider variety of hospitals and facilities, and to skip the public sector's occasionally long waiting lists. An assortment of schemes are available to expats in Cyprus, each tailored individually based on certain criteria.