Get to Know Costas Souris

St Martins

B Comm.Law; ILPA; Dip PR & IMM, -Law & Business Economics; Public Relations; Marketing & Insurance Industry

1979 – 1982

Activities and Societies: Quads, Cycling, Bush experiences, Scuba Diving

Pensioners Retiring to Cyprus

Retiring to Cyprus is a very popular option, especially for South Africans. An ex British colony much of the legal & property law and customs is familiar. Contracts are in English and personal & legal documentation can be provided in English requiring no translation into Greek. With 90% of the population speaking English and driving on the left, its an easy transition for those person moving from commonwealth countries!!

The combination of the mild climate, the wide use of English, the low crime rate, the low cost of living and tax benefits is attractive to many retirees. There’s also an extensive support network for expatriates moving to the country or those living there for part of the year.

Retirees are particularly well provided for with English-language newspapers, several English societies in the main cities and towns and a UK Citizens’ Association (UKCA), which has branches in Larnaca, Limassol and Paphos.

There are substantial tax benefits for retirees in Cyprus, which imposes very low income tax on pensions and has double-taxation treaties with many countries including South Africa under which retirees’ pensions aren’t subject to withholding tax at source, although husbands and wives are taxed separately.

Once you arrive in Cyprus as a retiree, there are also a number of duty-free privileges, including the duty-free importation of a car and personal effects.

EU Residency by Property Investment
Cyprus is one of the most affordable countries in Europe for residency through its golden visa programme. A property of just €300,000 in real estate is required. Within 60 months one can apply for citizenship or immediate citizenship by investing €2.5 million in property. With a Cypriot/EU passport/citizenship one has the freedom to work, travel, study and live anywhere within the EU including the UK. Families qualify!

In Summary
Immediate Residency €300,000 investment. Alternatively Immediate Citizenship €2.5 million.

Buy a property Obtain immediate annually renewable visa/residency

Buy a property or multiple properties min value €300 000
Obtain immediate permanent residency Invest in a property

Hold a deposit of €30 000 in Cyprus (Including Spouse)
Hold a deposit of €5 000 in Cyprus (Per child under 18) Children between 18-25 studying qualify Prove income of €30 000 pa increased by €5 000 per child
Stay in Cyprus for 60m out of 84 months and qualify for citizenship

Buy a property portfolio valued at €2,5m (Stay invested for min 3 years)
Obtain immediate permanent residency & citizenship/passport( No stay in Cyprus required)

With a Cypriot Passport you can live or work in 28 EU countries (Incl UK) and travel to 167 countries with no visa needed/ sometimes a stamp in the passport.