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Buying Property in Cyprus

Buying Property in Cyprus

Who needs permission to buy property in Cyprus?Non-Cypriot persons wishing to purchase property in Cyprus must submit a written application to the Council of Minister after signing the contract of sale. As long as this is done within a reasonable time, moving into the property is allowed. In most cases permission is just a formality if you meet the criteria that the Cypriot Government has in place. Legal entities controlled by citizens of the EU require permission to buy immovable property unless they have their headquarters in the country.Who does not need permission to buy property in Cyprus?EU citizens who are permanent residents in Cyprus do not require permission to buy immovable property and they can register multiple properties provided they stay in the country for the following 5 years.EU companies that have their headquarters and registered offices in Cyprus do not require permission to buy immovable property.

The Wine Routes of Cyprus

The Wine Routes of Cyprus

Cyprus has an ancient history when it comes to the production of wine. The oldest wine label in the world was Commandaria, which has been produced in Cyprus, on the foothills of the Troodos Mountains, since 800BC. It is said that King Richard the Lionheart, drank this wine at his wedding in 1191. There are still villages in Cyprus that produce wine the old traditional way, but many modern boutique wineries have opened with the new generation of wine makers leading the way to the production of excellent wines in picturesque modern wineries that can be found around the island. There are seven wine routes that you can follow if you want to visit these wineries. The wineries are located in the Paphos area, Limassol on the high slopes of the Troodos Mountains and rural areas in Nicosia and Larnaca.

Best Cypriot Villages to Visit

Best Cypriot Villages to Visit

Cyprus is blessed with a plethora of beautiful countryside and coastal villages that have significant culture and historical value. Some of them are reminiscent of years gone by without significant changes being made over the years. Of the many picturesque villages around Cyprus, here are the seven most popular villages to visit.

Banks in Cyprus

Banks in Cyprus

After the financial crisis that faced Cypriot banks in 2013 and the tough austerity measures that were implemented by the EU, Cyprus has shown remarkable resilience and has reclaimed its status as a thriving economy. The economy was restructured and diversified in order to be able to exit the economic adjustment program earlier than scheduled. Economic growth has exceeded all expectations and Cyprus has successfully recovered from the €10 billion bailout deal and the bail in of bank deposits that was imposed. The International lenders issued some harsh terms which Cyprus followed under tough supervision managing to introduce some serious reform programs to correct the weaknesses in its financial system. Recapitalization of the banking sector has passes rigorous ECB stress tests and solvency and liquidity in the banking system has improved dramatically by more than €3 billion in 2017 which has followed with the full repayment of the Emergency Liquidity Assistance. Following the tough austerity measures, Cyprus has continued on a solid growth path and is now one of the fastest growing Eurozone economies with strong fiscal performance and new large scale projects that are scheduled to improve the economy even further. As of July 2018 Cyprus, was ranked one notch below investment grade by Standard & Poor’s and Fitch Ratings.

Cypriot Artists

Cypriot Artists

Cyprus is well known for its historical art, some featured in the Heritage Sites of the Painted Churches of Troodos and across the island. Mythology tells us that Aphrodite, the goddess of beauty was born in Cyprus and in honour of this privilege, Cyprus has produced aesthetic art throughout history. Today, Cyprus has emerged as a noteworthy contemporary art scene which is it can be proud of. There are many talented artists, too many to mention by name. Below is a selection of some of the best known artists in Cyprus and examples of their work. Many of the artwork can be seen in museums and galleries in the big cities on the island and abroad.

Get Cypriot Passport in 6 Months

Get Cypriot Passport in 6 Months

If you have €2 million to invest you can easily obtain a Cypriot Passport and in turn become a citizen of the European Union. The investment program initiated by the Cypriot Government offers unique advantages for those who want to invest in Cyprus and you could get your initial investment back in just three years. There are no language requirements and dual citizenship is permitted. Prior to naturalization, the applicant must possess a residency permit in the Republic of Cyprus for a period of at least six months. With a Cypriot passport you will have full EU rights which include work, study and travel as well as the freedom to reside in any European Union country. You will automatically have free Visa travel to 156 countries worldwide. Citizenship is granted to your whole family who would also have inheritance rights. Once the criteria are met it takes up to 6 months for approval.

Casinos in Cyprus

Casinos in Cyprus

The debate on whether to open a Casino has been going on for decades. The biggest opponent has always been the Church of Cyprus who feared that opening a casino would destroy family life in Cyprus. It seems that finally the pros and cons have been weighed and the pros of having casinos in Cyprus have won. It is true to say that most Cypriots are born gamblers and it is inevitable that some families will suffer, but the government cannot be responsible for their woes. It makes economic sense to open the casinos as they will be contributing to the increase in tourism and to the economy of Cyprus as a whole. The other plus is that these casinos will create new jobs for the Cypriot community.

Casinos in Cyprus

Casinos in Cyprus

The debate on whether to open a Casino has been going on for decades. The biggest opponent has always been the Church of Cyprus who feared that opening a casino would destroy family life in Cyprus. It seems that finally the pros and cons have been weighed and the pros of having casinos in Cyprus have won. It is true to say that most Cypriots are born gamblers and it is inevitable that some families will suffer, but the government cannot be responsible for their woes. It makes economic sense to open the casinos as they will be contributing to the increase in tourism and to the economy of Cyprus as a whole. The other plus is that these casinos will create new jobs for the Cypriot community.

Casinos in Cyprus

Casinos in Cyprus

The debate on whether to open a Casino has been going on for decades. The biggest opponent has always been the Church of Cyprus who feared that opening a casino would destroy family life in Cyprus. It seems that finally the pros and cons have been weighed and the pros of having casinos in Cyprus have won. It is true to say that most Cypriots are born gamblers and it is inevitable that some families will suffer, but the government cannot be responsible for their woes. It makes economic sense to open the casinos as they will be contributing to the increase in tourism and to the economy of Cyprus as a whole. The other plus is that these casinos will create new jobs for the Cypriot community.

Religion in Cyprus

Religion in Cyprus

Religion in the controlled areas of the Republic of Cyprus can be broken down as follows:Orthodox Christians 89.1%Catholic 2.9%Protestant or Anglican 2%Maronite, Armenian 1.4%Islam 1.1%Buddhist 1% Atheist or Unknown 2%Most Greek Cypriots, which make up the majority of the population, are members of the Autocephalous Greek Orthodox Church. If you take the whole population of the Republic of Cyprus, over 73% are Christians. Turkish Cypriots who live in the occupied north of the island are officially Sunni Muslims. Apart from these large communities you will also find Baha’i, Jewish, Protestant, Anglican, Catholic, Maronite and Apostolic minorities living in Cyprus. The Greek Orthodox Church uses the Greek liturgy and is one of the oldest Eastern Orthodox autocephalous churches since achieving independence from the Patriarchate of Antioch in 431A.D. The first bishops to hold ministries in Cyprus were Apostle Lazarus and Barnabas after the resurrection of Christ. The Church of Cyprus is recognized by the ecumenical patriarch of Constantinople but retains its autonomy under its own archbishop. The founder of the Greek Orthodox Church in Cyprus is considered to be Apostle Barnabas and there are countless churches in every city and village, 67 monasteries and 16 Bishops who are ruled at this time, by the Archbishop Chrysostomos II. The Orthodox religion recognizes seven sacraments, namely baptism, confirmation, the Eucharist, matrimony, ordination, last rites and funerals.Although there are many small denomination churches that have sprung up all over Cyprus below are the details of the larger congregations.

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