Moving to Cyprus in 2026

Moving to Cyprus: entry, first 30 days, 3-month budget

Russian citizens need a visa to enter Cyprus. Cyprus is not in the Schengen Area, but since December 2024 it has issued visas under rules close to Schengen ones: the fee is $110 (90 euros), and applications in Russia resumed in July 2026. The residence permit is filed in Cyprus, so choose the ground and gather documents before the trip.

1. Days 1-7. Rent a home with a lease registered to prove your address, get a Cypriot SIM card and open a bank account; Cypriot banks check Russian citizens strictly, which can take weeks.
2. Days 7-30. Health insurance, certificates and the residence application at the migration department: for visitor status, proof of income from $27,000 (24,000 euros) a year and money in a Cypriot account.
3. Days 30-90. Review, biometrics and the card. Permanent residence by investment takes about 2 months.

In Limassol rents are a third higher or more: a one-bedroom flat in the suburbs costs $850-1,300 (750-1,100 euros) a month and by the sea $1,300-2,000 (1,100-1,700 euros). Almost everyone needs a car, and in summer air conditioning is the main expense. A family budget depends on its size and the residence ground; we calculate it in the chat. Exchange rate: about $1.12 per euro on 5 October 2026.

Cyprus in brief

Cyprus is an island in the eastern Mediterranean, a European Union member since 2004 and part of the euro area since 2008. About a million people live in the area controlled by the government of the Republic of Cyprus; since 1974 the north of the island has been under Turkish Cypriot control and is recognised only by Turkey. The capital is Nicosia. The official language is Greek, but business, banks and government work in English throughout. Cyprus is not yet in the Schengen area and issues its own visas.

Cyprus suits families and entrepreneurs who want European Union residence, English, a warm sea and one of Europe's mildest tax systems for dividends and capital, as well as remote workers earning from $4,000 (3,500 euros) a month.

How to move in 2026

• Visitor residence permit - for living on income from abroad without the right to work: from $27,000 (24,000 euros) a year for the main applicant, plus 20% for a spouse and 15% per child; in practice about $12,000 (10,000 euros) in a Cypriot account is expected at the first application. Renewed annually. Details are on the page Cyprus residence.
• Permanent residence by investment - an investment from $340,000 (300,000 euros) plus VAT in new housing, commercial property, a Cypriot company or an investment fund, and income from $57,000 (50,000 euros) a year. Processing takes about 2 months, and you need to visit once every 2 years. Details are on the page Cyprus permanent residence by investment.
• Digital nomad visa - up to 3 years with income from $4,000 (3,500 euros) a month; the quota was doubled to 1,000 permits in 2025. Details are on the page Cyprus digital nomad visa.
• Work at a foreign company in Cyprus - fast-track permits for specialists of foreign-owned companies and their families.

The citizenship by investment programme closed in 2020. We handle the choice of route, documents and filing end to end.

Citizenship

As a rule, citizenship is granted after 7 years of legal residence, with intermediate Greek and a test on the country; highly skilled professionals have a fast track after 4-5 years. Time on a visitor or student permit does not count in full, so the path to a passport is planned from the first year. Dual citizenship is allowed.

Taxes

A tax reform took effect on 1 January 2026. The first $25,000 (22,000 euros) of income a year is tax-free, followed by rates of 20%, 25%, 30% and 35%. Corporate tax rose from 12.5% to 15%, the dividend tax for domiciled residents fell from 17% to 5%, and foreigners with non-domiciled status pay no special contribution on dividends and interest for 17 years. There is no tax on selling shares, inheritance or gifts, and capital gains tax of 20% applies only to Cypriot property. VAT is 19%.

You can become a tax resident in as little as 60 days a year if you have a home and work or a business in Cyprus and are not resident elsewhere. Details are on the page taxes in Cyprus.

Property

European Union citizens buy homes freely, while others need a district administration permit, usually a formality, though as a rule one property for living is allowed. New homes are sold with 19% VAT, with a reduced 5% rate for a first own home subject to size and price conditions. Resale purchases carry a transfer fee on a scale from 3% to 8%. We advise against buying in the north of the island because of property title disputes. We source and check properties on the page property in Cyprus.

Business and accounts

A company is registered in one to two weeks, and a foreigner can own 100% of it. Foreign-owned companies with a real office in Cyprus get fast-track work permits for their staff. Banks scrutinise the source of funds and the substance of the business. We help with company registration, a business account and a personal account.

Cost of living

• Rent in Nicosia - a one-bedroom flat in the centre costs about $713-806 a month, outside the centre about $604; Limassol is noticeably pricier.
• Costs excluding rent - about $900 (800 euros) a month for one person and about $3,100 (2,700 euros) for a family of four.
• Petrol - about $1.70 a litre; almost everyone needs a car, as public transport is limited to buses.
• Electricity - expensive, with air conditioning the main summer cost.

Where to live

• Limassol - business, shipping, IT, a large Russian-speaking community and the highest prices.
• Nicosia - the capital with ministries and universities, cheaper housing, but about 45 minutes from the sea. More in the Nicosia guide.
• Larnaca - the main airport, the sea and prices below Limassol.
• Paphos - the calm west of the island, popular with retirees and Britons.
• The east of the island - the resorts of Ayia Napa and Protaras, lively in summer and quiet in winter.

Practicalities

• Entry. Russian citizens need a Cypriot national visa; a Schengen visa is not valid for entry.
• Climate. Hot, dry summers up to +35 to +40 and mild winters; the swimming season runs from May to November.
• Healthcare. The general health system is open to residents who pay contributions, while visitor permit holders need private insurance.
• Schools. Many private schools with a British curriculum, especially in Limassol and Nicosia.
• Roads. Traffic drives on the left.

Who Cyprus suits

Pros: the European Union and the euro, English, a warm sea, 5% dividend tax for domiciled residents and 0% for non-domiciled ones, no tax on selling shares, and permanent residence by investment in 2 months. Cons: Cyprus is outside Schengen, rents in Limassol are high, summers are hot, you depend on a car, and the island is divided. Cyprus suits families, entrepreneurs and remote workers who want a European Union base with mild taxes. Write in the chat and we will choose a status and work out the full moving cost for your family.