More and more foreign investors are choosing Cyprus as the location to make their investment. Why? Because a Cyprus investment comes with many benefits, making Cyprus a more attractive investment option than many other countries.
The Benefits of Investing in Cyprus
A great location
Cyprus is so well situated geographically, with ease of access to Europe, Asia, and Africa. This makes the shipment of goods simple, and also travel for yourself. With two world-class airports and 2 deep seaports, transportation is never a problem to and from Cyprus.
The Cypriot banking system is well geared towards looking after the needs of business people. With a highly educated and skilled workforce (most young professionals are university graduates), you’ll find business dealings within Cyprus very good. If you are an employer, you’ll find it easy to find talented staff, too.
Added to this are Cyprus’ advanced legal services which are offered by knowledgeable lawyers who conduct business in both Greek and English. The fact that the law system in Cyprus follows the Common Law and that laws can also be found in English facilitate the process of buying property and making an investment in Cyprus.
Citizenship and Permanent Residency Programs
Cyprus has a unique citizenship programme which enables investors to gain Cypriot citizenship within just 6-8 months. In many other countries, this process can take up to 8 years or more, so this is a distinct advantage. In addition, the scheme does not require the investor to live in Cyprus, so you can take advantage of the programme without even moving to the island yourself. In addition to the citizenship programme, there is the Permanent Residency Program for individuals who are interested in getting a permit to live in Cyprus and enjoy the benefits of doing so without having to spend millions.
Favourable tax regime
Cyprus’ tax environment offers a plethora of benefits to aspiring investment seekers and buyers. One of the most talked-about is the corporate tax, which is set at 12.5 per cent, making Cyprus highly competitive among European nations. However, there are many more tax benefits such as tax exemptions for overseas employment, the zero tax on retirement gratuity and the exemption from capital gains tax (CGT) on sale of real estate.
Where to invest in Cyprus
With a year-round warm climate and 300 days of sunshine annually, it’s no wonder that Cyprus is a tourist hotspot. Add to that the beautiful unspoiled beaches, the host of fascinating things to see and do, and the accessibility from three continents, tourism is certainly booming. The tourist industry in Cyprus is certainly a wise place to invest your funds and there are many large-scale developments currently underway around the island that will further increase the appeal of Cyprus to holidaymakers.
Cyprus is rapidly becoming an emerging investment fund centre for Europe and is offering unique access to growing markets. Cyprus is now a key regional domicile for both setting up investment funds and the establishment of asset management companies.
With both an increase in people relocating to Cyprus from overseas, and the booming tourist market, the demand for property in Cyprus is at an all-time high. Investing your money in property can bring fabulous investment yields and plenty of options. You can rent your property for long term private use, let it out for the shorter term to tourists, and of course, you have the benefit of using it yourself, and potentially it could become your full-time residence in time.
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