Record level of Cyprus GDP in 2021

The country's economy grew by 8.4% compared to the previous year, according to data from the Statistical Service of Cyprus.

The growth of the Cypriot economy is helping property sales in the country, which are up 40% in the first four months of 2022.

The country's GDP grew and amounted to 23.4 billion euros at the end of 2021. About 15% of Cyprus' GDP comes from tourism. Tourism in the country has not yet recovered from the effects of the pandemic.

But other sectors of the economy went up. The recovery of the Cypriot economy began thanks to an increase in:

• private consumption - by 5.9%;
• export of goods and services by 15%,
• import - by 10.7%;
• taxes on production and imports - by 16.7%;
• wages in the country - by 6%;
• companies' revenues by 3%.

The economy has also benefited from government support measures, such as reducing non-performing loans.

The investment program of Cyprus makes it possible to obtain permanent residence for investments in real estate from 300 thousand euros. In just two months, an investor can apply for permanent residence in Cyprus. Conditions: it is necessary to purchase primary housing from a developer worth at least 300 thousand euros.

At the same time, it is not necessary to permanently reside in Cyprus in order to maintain the status of permanent residence - it is enough to come twice a year. Permanent residence is indefinite, extends to the family members of the investor and allows you to obtain Cypriot citizenship in five years, subject to all necessary conditions.

• Cyprus resident status in just two months.

• Travel to 173 countries without visas.
• No government contributions, you only need to invest in real estate.
• Permanent residence status is obtained by relatives of the investor, including spouse, children under 25 years old, parents of the investor and parents of the spouse.
• It is not necessary to permanently reside in Cyprus - it is enough to visit Cyprus twice a year.

• Soft tax regime. No income taxes in other countries, no income tax, income tax and inheritance tax.
• The opportunity to come to Cyprus, even if the borders are closed. At the same time, life in Cyprus is a right, not an obligation of an investor.
• After five years, the opportunity opens up to apply for European citizenship.