Introduction to Cyprus
An island-republic in the Eastern Mediterranean, Cyprus stands at the crossroads of three continents, Europe, Asia and Africa with easy access to most of Europe, the Middle East, North Africa and Russia. Cyprus is served by approximately 40 major airlines linking it to the four corners of the world through its international airports at Larnaca and Paphos.
The 4 seasons provide a daily summer average of around 35 degrees, rarely dipping below 10 degrees during the winter months. Cyprus has attracted traders and travellers for many generations. Its tranquil landscapes are dotted with fascinating ruins from major empires throughout the middle ease and europe.
It is an island of great beauty with a wide variety of contrasting landscapes from mountains with vine-clad foothills, citrus and olive groves and pine and cedar forests to stunning water falls, and spectacular coast lines.
Lifestyle
More and more people are striving for a better, healthier lifestyle for themselves and their families.
With its modern properties, villas, apartments,social clubs, shops and restaurants, high standard of medical services and reputable schools, Cyprus offers its visitors and residents a high standard of living. And there's no shortage of culture in the Mediterranean island with its museums,historical monuments, castles, theaters and galleries. It is a safe and secure political region with strong ties with the middle east and Asia as well as Europe and, Africa etc, after all Cyprus is a politically neutral country and has been part of the EU since 2004.
Entry Requirements For Non EU Citizens
For holiday purposes a Short Stay travel visa is required for a 90 day maximum period per 6 months and is available via an application at your local Cyprus embassy. We may provide you with a letter of invitation. Please contact us for further assistance.
On purchasing a property in Cyprus, the process may begin for a Permanent Residence Visa.
Why invest in Cyprus
• Demand: Constant property growth based on increased tourist and relocation demand (no claim benefits available) and an exceptionally strong domestic market
• Low Taxes: Capital gains at only 20%; low income tax with initial 17 000 euros annual income earned per person tax free
• Double Taxation: Double taxation agreement with 40 countries, reducing your tax liabilities
• Corporate Tax: Advantageous tax system with only 10% corporate tax. You can now set up your business without a local partner
• Europe: Member of the EU since May 2004, Market growth with introduction of Euro currency
• Infrastructure: Excellent modern infrastructure, transport and telecommunications with high budgets made available throughout the island for roads, golf courses, hospitals, airports, and marinas, increasing the potential growth of your investment
• Financial Services: Modern efficient banking and accounting services with mortgages being very easy to obtain through many local banks
• British Based: Legal system based on UK standards with all lawyers fluent in English and many having studied in the UK for their law degree
• Stability: Economically stable due to a very a strong domestic market
• Growth Rate: of the Highest in the EU (2nd quarter 2008)
• Free Trade: Free market economy where one can buy, sell and trade locally and worldwide with no restrictions
• Property market based on residential tourism as opposed to commercial tourism
• Property market is based on peoples needs and not on peoples wants
• Strict building laws controlling availability of property into the market. Exclusivity is retained and high rise structures are rarely seen
• Natural beauty, not artificial
• Safe, secure political region with strong ties to the east and west. Politically neutral, Cyprus is referred to as the Switzerland of the Mediterranean/Middle East
Why relocate to Cyprus
• UK Pension: Receive your UK pension directly in Cyprus (5%) and no tax on lump sums on retirement
• Pensions: No tax on capital sums from approved funds, i.e. pensions
• Inheritance Tax: Being a permanent resident, you have no inheritance tax. However, this has other
implications requiring professional advice. Contact Us
• Retirement Tax: Retirement income taxed at 5%, unlike the UK where it is as much as 40%
• Friendly Family Environment: Lower priced property than Spain, Portugal and France and a friendly environment with most locals speaking English
• Living Expenditure: Low cost of living with excellent local fresh produce
• Low Crime rate: Extremely low crime rate where you can walk freely without worrying about your personal safety or that of your home and family. Peace of mind is priceless
Typical starting prices for Cyprus Property
Studio Apartment 65,000 Euros
1 Bedroom Apartment 85,000 Euros
2 Bedroom Apartment 112,000 Euros
Townhouse (maisonette) 152,000 Euros
3 Bedroom Villa 200,000 Euros
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