The best time to invest in Cyprus Property is now. After its economic collapse, Cyprus is emerging as one of the best destinations for value property investing.
The government is working hard to attract foreign investments offering generous incentives including Cyprus permanent residence permits and even EU citizenship. There is now a genuine interest in promoting innovation and entrepreneurship and in attracting direct foreign investment. Government bureaucracy is being curtailed and procedures streamlined to reduce delays and costs.
Why Cyprus?
High standard of living - The standard of living in Cyprus is one of the highest in Europe. The overall cost of living is on average 1/3 to 2/3 of that in Europe, Japan and the USA. Cypriots are among the most prosperous people in the Mediterranean region. This is the one European country where the relatively ‘low cost of living’ paves the way for a ‘high standard of living’. You can relish in a lifestyle impossible to find elsewhere.
Cyprus will become the richest country in Europe - Following the discovery of €100 billion worth of natural gas, Cyprus will become the richest country in Europe after the drilling and financial exploitation of the natural gas in Cyprus which will increase the per capita income by 70% during the next ten years.
Cyprus to become a hub for Europe-Asia electricity - A subsea cable, 540 nautical miles long will soon connect Israel and Cyprus to south-east and western Europe to provide the continents need for inexpensive electricity.
Strategic location - Cyprus lies at the crossroads of Europe, Asia and Africa and is close to the busy shipping and air routes linking Europe with the Arab world, China and the Far East, representing a strategic hub for business activities in the region. Cyprus is one of the EU’s main commercial outposts in the Eastern Mediterranean, providing a point of exchange between Europe, Africa and Asia. The island’s location also makes it an ideal trans-shipment centre,
Low Corporate Taxes - Cyprus offers one of the most attractive tax systems in Europe. The country provides a simplified, effective and transparent tax regime that is fully compliant with the EU laws and regulations. Corporate tax : 12.5% / Tax on Dividends: 0% / Capital Gains Tax: 0% / Income Tax: First €19, 500 of income is tax free Cyprus has agreements with 40 countries for double taxation avoidance (Russia, United Kingdom, Ireland, Netherlands, Italy, France to name a few).
Tourism Industry - According to the World Economic Forum's 2015 Travel and Tourism Competitiveness Index, Cyprus' tourist industry ranked 22nd in overall competitiveness. In terms of tourism Infrastructure, Cyprus is rated 1 in the world. With over 2 million tourists visiting each year, Cyprus is the world’s 40th most popular destination. The tourism industry in Cyprus generating nearly €1.5bn to the economy each year and employs over 120,000 people.
Safety & Quality of Life - Cyprus is one of the safest places in Europe and the World, a place where personal safety is absolutely assured, where Children and the elderly can walk the streets alone or at night and the environment is a warm, welcoming one. Cyprus offers a wonderful environment with a very comfortable standard of living. Living and working in Cyprus is combined with fabulous weather, beautiful nature, art and culture, safety, security, and above all, hospitable people. Cyprus combines the international competitive business environment with a pleasurable and balanced way of life.
Human Talent - 2015 statistics demonstrate that 39,2% of Cypriots in the 25 – 64 age group have acquired tertiary education – higher than the EU28 average of 28,63% and one of the highest percentage in the world. Cyprus has historically been a much sought-after prize for every Empire in the region. This long history of conquest is reflected in modern Cyprus and although Greek remains the mother tongue, the majority of Cypriots throughout the island speak English, with schools and universities teaching in both languages.
Well-developed Infrastructure - Cyprus has a robust telecommunications system, a modern road network, two international airports (Larnaca, Paphos) and two ports (Limassol, Larnaca). Furthermore, the relatively small distances make the island a very friendly and easy to get around business location. Considerable investment has been made into transforming the island into a telecommunications hub for the region. In addition, seven satellite earth stations provide further satellite telecommunications connectivity making it easy for companies to locate here and be connected globally through an advanced and reliable communications network.
International Business Centre - Cyprus has developed into an international quality business centre that offers specialized services and rewarding business opportunities catering for the diverse needs of international investors, enhancing the ease of doing business. Cyprus is the largest Foreign Direct Investment country into Russia. It is also becoming China’s preferred business and investments gateway to Europe as well as Africa and the Middle East with more and more Chinese companies showing interest in the island as a base for their business ventures. Residency and Citizenship Non EU residents have the opportunity to acquire a Cyprus (EU) Citizenship & Permanent Residence through investment. Cyprus is one of the few countries in Europe to actively promote residency and citizenship programs. The government actively seeks professional people with families to take up residency in Cyprus and enjoy all the benefits the country has to offer or for people to make significant investments and acquire a Cyprus EU Passport which will enable the holder free access to live and work anywhere within the European Union.
While uncertainties and risks continue to exist, they pale by comparison to the potential return. Cyprus is a currently undervalued real estate investment destination which offers the early property investor value for money and a first-mover advantage, which may not be available later on when the perceived risk will be lower and opportunities recognized more widely.
Indeed this is the best time to invest in Cyprus Property for investors who want to avoid regretting in a couple of years time not acting when Cyprus Properties were still affordable and full of emerging opportunities. It is a common secret that Cyprus Real Estate is today a grossly undervalued but far too few act on this knowledge and profit from it.
Source: Cyprus Property Investment Experts Online (Sunday 29/10/17)
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