Investments


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.


Chinese Community in Cyprus

Chinese Community in Cyprus

Chinese investors have contributed to the revival of the construction sector in Cyprus which increased by 40% in 2016. The Chinese community is relatively new in Cyprus with interest in visa acquisition and proximity to European markets being the main incentive for new arrivals. It seems that Paphos is the town of choice for many Chinese who have decided to buy property either as an investment or as their new residence. Part of the attraction for these new arrivals is security, no racism, the hospitality of the locals and all the attractions that the island has to offer. Property in Paphos has been purchased by the Chinese as early as 2013 and there are currently over 7000 property transactions submitted to the land registry department awaiting approval. It is estimated that more than 1.5 billion has been invested in Cyprus by the Chinese in recent years. Large Chinese companies have shown an interest and invested in huge property developments currently being undertaken in Cyprus. Two luxury hotels in Larnaca and a new 5 star hotel in Sotira are currently being built by a joint venture with Chinese investors.


Why Invest In Cyprus Property

Why Invest In Cyprus Property

The Location and its PeopleCyprus has a unique geographical location. Situated at the crossroads of Europe, Asia and Africa, this strategic position makes the island a well-known and respected financial center. Cyprus has always had good relations with its neighbours and a co-operation between countries such as Greece, Israel, Lebanon, Syria and Egypt still exists and is mutually beneficial. Apart from its enviable position in the Mediterranean Sea, Cyprus enjoys the most amazing weather with over 300 days of sunshine a year. The low cost of living, and the comparatively low crime rate, makes Cyprus a place where quality of life is almost guaranteed. The Cypriot people are friendly and very hospitable and they will make you feel welcome in their country. Medical facilities are considered to be some of the best in the area, and there are public and private hospitals in all the major cities with highly qualified medical staff. The Cypriots put a lot of emphasis on education and spend over 7% of the GDP on education. The result is excellent private and public schools throughout the island and Colleges and Universities are well known and said to accommodate over 10,000 foreign students from the area every year.


Why Invest in Cyprus?

Why Invest in Cyprus?

Why invest in Cyprus?LocationCyprus is the third largest island in the Eastern Mediterranean and located at the crossroads of three continents, Europe, Africa and Asia, which provides easy access for investments in numerous countries. As a member of the European Union investing in Cyprus is a springboard for investment in all EU member states. According to GDP per capita, Cyprus is rated as the 31st wealthiest country worldwide and also 5th as the worlds most recommended country for relocation. The highly regarded international shipping centre also ranks Cyprus as one of the world’s ten most prominent maritime nations.