Limassol is one of the largest cities in Cyprus. According to recent data, about 200,000 people live here including the suburbs. This makes it attractive to Russian speakers — it’s a large city with well-developed infrastructure and vibrant life.

How large is the Russian-speaking community?

It is estimated that up to 17% of Limassol’s population are Russian speakers, about 8% are citizens of Russia, and the total Russian-speaking population ranges from around 18,000 to 50,000 people. As of June 2025, Cyprus had issued more than 40,500 residence permits to Russian citizens in just the first half of the year.

History of CIS influx:

1. 1990s — Early wave: after the collapse of the USSR, entrepreneurs and professionals began to arrive, banks and offices were opened, and Russian-language infrastructure was created.
2. Citizenship-by-investment program: until its cancellation in 2020, investments in real estate granted EU citizenship — a magnet for wealthy Russians.
3. Second wave 2022 – present: migration of IT specialists, entrepreneurs, and families — up to 50,000 people. Today Limassol is often called a “mini-Silicon Valley.” After all, buying real estate in Cyprus allows you to obtain residency. To do this, you need to:
   
   

• Purchase a new residential house, apartment, or commercial property worth at least €300,000.
• Show a stable annual foreign income of at least €50,000.
• Provide a certificate of no criminal record.

If you have any questions, you can always contact our specialist! (link)

Everyday life: language, community, culture

In Limassol, everyday life follows a pleasant rhythm familiar to many. Russian speech is common — you can easily find shops with signs in Russian, cafes with menus in three languages, and even rental ads written directly in Russian. The city has more than 16 private schools, including English-language, Russian, and multilingual institutions, where in 2025 you can choose to study according to British programs (IGCSE and A-level), IB, or even the Russian curriculum.

The Russian-speaking community is active — there is a press, online radio, Orthodox parishes, thematic groups, and Telegram chats. The IT scene is lively too: regular meetups such as CypRus IT Meetup take place, and in May 2025, Limassol hosted a major Cyprus Diaspora Forum, which brought together over 120 speakers and 250 investors.

And, of course, cultural life is in full swing: music concerts, stand-up shows, theatres, and festivals — all of this is available not only in summer. You can keep track of the most interesting events in our events calendar — we update it regularly.

Economy and taxes

Cyprus has long been a favourite place for doing business thanks to low taxes, EU membership, and convenient residency programs. There are double taxation treaties, simplified company registration, and special tax regimes for IT and startups.

The key feature is the residency system. There are two types:

• Domicile – for locals who were born or have lived here for at least 17 out of 20 years;
• Non-domicile – for newcomers, which is our case.
  
  

The non-domicile status exempts from taxes on dividends, inheritance, and capital gains. In other words, you live on an island with sea and palm trees — and pay minimal taxes. Income tax, if it applies at all, is charged on a progressive scale:

• up to €19,500 per year – not taxed
• €19,501–28,000 – 20%
• €28,001–36,300 – 25%
• €36,301–60,000 – 30%
• over €60,000 – 35%
  
  

You can obtain tax residency under the 183-day rule or the 60-day rule (if you have housing and an income source on the island). For businesses, the corporate tax rate is especially attractive — just 12.5%, and for software developers and startups, the IP Box regime applies, where the effective rate can drop to 2.5%.

But there are nuances.

After 2022, Cypriot authorities began to more closely monitor sources of income — especially for new investors. Banks now require more documents, particularly when opening accounts. Non-residents undergo thorough checks on the origin of funds, so sometimes it’s easier to use professional assistance.

You can learn more about bank accounts, Cyprus’s financial system, and real case studies from our specialist. (link)

Attitudes of locals: is there tension?

Most Cypriots view the Russian-speaking wave positively: new investments, businesses, jobs, and cultural events. However, the government is gradually leveling conditions to eliminate the risks of sanction evasion and financial abuse.

Pros and Cons

Pros

1. Life by the sea and mild climate
   +300 sunny days a year, swimming season from May to November, winter without snow and frost. Cyprus’s nature offers vineyards, mountain trails, and Blue Flag beaches.
2. Russian-speaking environment
   Signs, menus, doctors, and schools — many places have everything in Russian. Cypriots themselves are friendly and open to communication.
3. Favourable taxation and business opportunities
   Corporate tax — 12.5%, non-domicile status exempts from taxes on dividends and inheritance. For IT companies, there is the IP Box — effective rate 2.5%.
4. Quality of life and safety
   Modern medical and educational facilities, access to private and public healthcare (GESY), one of the lowest crime rates in the EU.
5. Year-round fruits and affordable markets
   Local markets offer abundant fruits and vegetables at affordable prices, thanks to up to four harvests per year.
6. Events, concerts, leisure
   Cyprus regularly hosts stars of Russian and international music, theatre tours, exhibitions, and sports events. You can follow the latest schedule here.
7. Simple naturalisation
   After 7 years of legal residence (first residency, then permanent residence), you can obtain a Cypriot passport.

Cons

1. Cost of living
   Rent, petrol, bills, food — more expensive than in Russia. Especially at the start, these expenses can be strongly felt.
2. Bureaucracy and banking procedures
   After 2022, banks tightened control: proof of funds, KYC, tax transparency are required. Opening an account can take weeks.
3. Language barrier outside cities
   English works almost everywhere, but without Greek, you may face difficulties in small government offices, clinics, and services.
4. Employment difficulties
   Without experience or an EU passport, it’s hard to get a hands-on job. Specialists in IT, finance, law, and medicine are in demand, but competition is high.
5. Cold in apartments in winter
   No central heating. Cold and damp indoors are common. It’s important to choose housing with insulation or good heaters.
6. “Grey zone” in certain sectors
   Some industries (crypto, betting) still operate without full legalisation, meaning they can carry legal risks.
7. Slow pace of life
   Public transport is limited, nightlife is scarce. If you are used to a metropolis, you’ll need to adapt to a new rhythm.

Conclusions

In 2025, Limassol is a comfortable European city with an active Russian-speaking life: schools, business, IT community, cultural events. Infrastructure is developed, but the government is tightening controls, and banks and investors face new requirements.

The city remains attractive: sun, sea, community, opportunities. The main thing is to consider risks, work transparently, and adapt to modern EU requirements.