All you need to do is a direct property investment in Cyprus
August 1, 2016: Cyprus boasts some of the world’s finest properties, set against a backdrop of astonishing beauty. It is a place where relaxation comes naturally.
One can explore the great history, the excitement of towns and villages, and a range of natural wonders one won’t find anywhere else.
While maintaining its Greek cultural identity and Eastern Orthodox beliefs, the island has been warmly embracing its visitors for thousands of years.
Those who visit are often tempted to stay; the plethora of different people living on the island, has allowed Cyprus to progress as a diverse and multi-cultural nation – catering for everyone’s tastes and needs
| When one is looking at Cyprus as a permanent destination, its formula speaks for itself; EU member since 2004 with great respect for human rights and personal freedom, sun-soaked beaches, crystal clear waters, mild climate and sunshine (320 days a year), stunning snow-capped mountains, great infrastructure, quaint villages to fast-developing modern cities and towns, luxurious marinas, first-rate educational and medical sectors, world heritage sites and ancient archaeological parks, English language widely spoken… |  |
The island’s strategic location – at the crossroads of three continents (Europe-Africa-Asia) – offers convenience with everything that is literally at the doorstep.
The island sparkles with a string of benefits:
1. Safe and Secure Environment
5th safest country in the world (Value Penguin 2015)
2. Lowest corporate tax regime in the European Union (12.5%)
3. Foreign direct investment for both EU and non-EU nationals
4. Attractive tax system: double taxation agreements with 52 countries
Cyprus ranks 27 out of 145 countries for best countries doing business, according to Forbes
5. Credible, highly reputable and advanced financial Institutions. Numerous International Banking Units and multinational companies, including Jordan Kuwait Bank, Lebanon and Gulf Bank, Bank of Beirut, Promsvyazbank, RCB, Societe Generale, Barclays
6. Competitive modern and transparent legal, financial and regulatory framework based on the British Law and standards
7. Significant economic memberships such as WTO, World Bank, IBRD and IMF
9. Significant natural gas reserves in Cyprus’ exclusive economic zone
10. Workforce: highly skilled, educated and multilingual workforce at highly competitive fees
11. Excellent telecommunications systems
12. High standard of living and healthcare. The healthcare system ranks 24 out of 191 countries (UK is ranked 18, Israel 28 and the US 31)
13. Excellent public, private international schools, colleges and universities
14. One of the highest literacy rates in the world: 99.1%
15. Two international airports with daily flights from major destinations, including Dubai, London, Paris, Moscow
16. Rich cultural history with ancient sites
18. The cleanest bathing waters in Europe with bathing waters ranked 1 out of 28 member states
19. High quality tourist facilities
20. Exclusive golf resorts
21. EU citizenship through property investment within 3 months with the freedom of living, business, education, healthcare and movement in EU region
22. Cyprus Permanent Residency through property investment within 2 months
Economy
The latest International Monetary Fund (IMF) estimates puts Cyprus’ rate per capita at USD 30,882 – well above average for the European Union.
The country has been sought after greatly as a base for several offshore businesses for its low tax rates.
Tourism, financial services, shipping and real estate are all significant parts of the economy. The island caters to 2.5 million tourists annually.
The Cypriot government adopted EUR as the national currency in 2008. Since then, Cyprus has been part of a monetary union, the Eurozone and of the EU single market. In the early 21st century, the Cypriot economy diversified massively and Cyprus became far more prosperous due to this diversification. However, in 2012 it became affected by the Eurozone financial and banking crisis. In June 2012, the Cypriot government announced it would need foreign aid to support its banks. The Cyprus government implemented a comprehensive programme of adjustment and reforms with strong support of the IMF, and after four years has successfully exited the programme.
According to Eurostat, the Statistical Office of the European Union, GDP growth is expected to reach 2% in 2017. The current GDP growth stands at 1.6% (2016), as opposed to 1.4% in 2015. Property sales are also on the rise and are projected to increase by 5-10% at the end of 2016.
Significant quantities of offshore natural gas have been discovered in the area known as Aphrodite in Cyprus’ exclusive economic zone (EEZ), about 109 miles south of Limassol.
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Cyprus demarcated its maritime border with Egypt in 2003 and with Lebanon in 2007, while Cyprus and Israel demarcated their maritime border in 2010. In August 2011, the US-based firm Noble Energy entered into a production-sharing agreement with the Cypriot government regarding its commercial development. Cyprus’ drilling efforts, with the support of the US, EU and UN, began in September 2011 in Block 12. |
Real estate
The real estate market in Cyprus saw an increase in demand on the island from 2004-2008, which led to developers increasing the supply. Prices have always been competitive and have always created strong opportunities for buyers.
The main element of a healthy Cyprus real estate market has always been residential property and specifically luxury second homes. Seafront properties and integrated master planned communities are the property options that offer buyer’s highest value for money. The price per square meters varies significantly depending on the location and building specifications.
When award-winning and reputable companies, like Aristo Developers , combine the attraction of Cyprus with their unique freehold property portfolio, a lucrative future is literally guaranteed.
Cyprus is also one of the most favorable places for international business. Individuals looking to invest through real estate often take advantage of the location and the climate, its excellent infrastructure and the various incentives in the area of taxation. The island offers a sophisticated low tax jurisdiction – the lowest in Europe – that has rapidly become the jurisdiction of choice for international investors; 0% Capital Gains Tax, 0% inheritance tax, 0% transfer fees, and a VAT Reduction Scheme boasting a 5% reduced VAT policy on the first residence on the island.
Citizenship by investment
The Cypriot government has established a number of incentives to attract foreign direct investment (FDI) into the country, including a citizenship by investment programme that grants full citizenship.
A direct property investment of €2.5 million through Aristo Developers, will ensure lifetime EU citizenship for the applicant and his/her family members, provided that the terms and conditions established by the Cyprus government are observed.
Successful applicants all gain the right to live, work and study in all 28 EU member countries by virtue of Cyprus’ EU membership.
Cypriot passport holders are entitled to travel visa free to more than 169 countries and can quickly obtain visas for other countries, such as the US.
There are no physical residency requirements. Citizenship is passed on by descent, offering a legacy to future generations. There are no tax consequences unless the investor opts to become a tax resident in Cyprus.
Aristo Developers , the leading developer of the island and the pioneering force behind the island’s property, golf, commercial and educational industry, was established in the early 1980s. Boasting a significant share of the Cyprus home market, the company is continuously evolving by setting new standards for the island’s property industry, without compromising its first-rate customer service, rentals service, property management and after-sales support.
Its presence on the island has encouraged many people to relocate to Cyprus and opt for the ideal holiday home in the sun. Whether it’s for investment or retirement purposes, Aristo Developers‘ attractive portfolio includes properties for the affordable budget, and those in search of superb beachfront estates. But if recommendations are anything to go by, the proof is literally ‘in the pudding’; Aristo prides itself on long-term commitment, having established solid relationships with more than 12,000 satisfied clients over the last 15 years!
Adding to its credibility, Aristo Developers also guarantees its title deeds. Since the beginning of 2015 and until the first six months of 2016, the company proceeded with the transfer of more than 700 title deeds to its clientele, having at this moment another 1,600 title deeds available for transfer to existing property owners for completed developments. This accomplishment undoubtedly ranks Aristo Developers, yet again, as a secure and most trustworthy company that provides peace of mind when acquiring real estate in Cyprus.
As a member of a thriving European community, Cyprus has proven timelessly that it is a preferred destination of choice. A direct property investment through Aristo Developers, will ensure that one’s road to citizenship in Cyprus is a promising one.