Why Invest in Cyprus?
There are many reasons why Cyprus is a desirable investment location, the following are just a few…
- 340 days of sunshine a year make it a comfortable and enjoyable place to live.
- A low cost of living makes for an improved quality of life.
- The Cyprus property market is one of the fastest growing in the European Union and prices in some areas are increasing by an annual average of 20%.
- Tourism is predicted to grow by 4.6% over the next 10 years, contributing some 13.9% to the country´s GDP by 2014. This is good news to property investors looking for a ready market.
- Property prices are still lower than in many other European countries, particularly in the north.
- A comparatively low tax rate, including a Double Tax Treaty with southern Cyprus and the UK are attractions for investors.
- Capital Gains Tax of only 20% and Corporation Tax for Cypriot limited companies (through which you can own your property) stand at only 10%.
- UK pensions can be received tax free in Cyprus.
- Income tax for Foreign residents permanently residing in Cyprus is a flat rate of just 5%.
- Cyprus enjoys a high standard of living, with excellent facilities, including top-class golf courses.
- Cyprus has seen a sharp increase in the number of properties around golf courses; also golf properties fetch up to 40% more.
- There is a comparatively low crime rate in Cyprus and friendly people make it a desirable place to visit or live.
- Excellent medical facilities, education and offshore business advantages make it all the more attractive.
- Cyprus has a British-based legal system, where English speaking lawyers abound.
- A British-based banking system in southern Cyprus, makes choosing mortgages and managing your money similar to “back home”.
- Predicted entry to the Euro in 2007 will further boost Investor confidence.
- Northern Cyprus is set to join the EU when Turkey meets the EU requirements, including a settlement with Greek Southern Cyprus.
