Cyprus Is An Attractive Property Investment Destination
- Dec 2, 2017
- 2 min read
As the safest country in the European Union, and the fifth safest country in the world, Cyprus is an attractive place to do business and a unique place to reside.
Individuals looking to invest in Cyprus real estate, take advantage of the island’s unique strategic location, enviable Mediterranean lifestyle, warm climate, excellent infrastructure and first-rate tourism. Cyprus also offers the most favorable incentives in the area of taxation.
Cyprus offers Permanent Residence and EU Citizenship through property investment. If an individual invests a minimum of €2 million, he/she is eligible for residency for a full family including spouse, children and parents. However, one can do real estate investments of much smaller amounts as well, although that will not provide Residency to the property investor.
As a thriving European destination, the island of Cyprus presents many business opportunities. Once a person has Cyprus EU Citizenship, they are eligible for all benefits offered by the European Union (EU), available to all EU residents, including higher education at reduced fees in any European country. Cyprus has already seen a surge of international investors settling on the island, predominantly from China, Russia and the United Kingdom.
Cyprus is also an attractive island with the most blue flag beaches per coastline in the world. The island also has an exceptional winter climate where one can ski on the slopes of the snow-capped mountains of Troodos and swim later by the beach. Cyprus also has many cities which offer the perfect lifestyle, all within short driving distances from one another. The island is also blessed with 18-hole international championship golf courses and stunning marinas. It is one of the largest ship management centres in the world, and its strategic location – at the crossroads of three continents, offers connectivity to all corners of the globe. Its location is also ideal for one wishing to establish trading facilities in the country.
Cyprus is something which is very attractive at the moment, especially for non-European property investors from high-income levels of the society. Because besides all the benefits of taxation, the strategic location of the island, which is between three continents and other benefits. We also have 3 immigration programs running parallel to real estate investments, which in the last 4-5 years seem to be very, very popular in relation to other programs of other European countries. Just to give you an example, we have 5 billion Euros of revenue from these immigration programs.
Most of Cyprus real estate investors come from places like China, Vietnam, Russia and these are the wealthy clients that are looking for second options for themselves and their families through these immigration programs. The three immigration programs currently running is the Permanent Residence Visa which one can apply and get within two months, one of the fastest in Europe. And the other one is the Cyprus Citizenship and also European passports. Both schemes cover all members of the family including children up to the age of 28. And that seems to be very, very attractive at the moment.
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