Cyprus has recently garnered a lot of attention as an ideal investment destination, offering a high quality of life for foreign investors, It is considered one of the countries with a strong economy primarily reliant on the public and tourism sectors. Located in a strategically advantageous position, Cyprus provides easy access to major shipping and air routes, including Dubai, London, Moscow, and Athens, making it a successful investment choice for many.
Furthermore, the rapid growth and development of the real estate market in Cyprus can be attributed in part to the country’s tax system. Below, we highlight the key reasons that have captured the interest of investors from around the world in investing in Cyprus:
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Access to the most important Global Markets
Cyprus is one of the largest islands in the Mediterranean Sea, and throughout its history, it has maintained a unique strategic position that has made it a comprehensive meeting point between the East and the West, Its significance was further heightened when it became a member of the European Union in 2004 and signed more than 40 trade agreements with EU member states. This has drawn the attention of foreign companies and international investors seeking full access to European markets.
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An opportunity to invest in a different lifestyle
Cyprus provides an environment for those looking to spend quality time with their families. Its location offers a distinctive climate with mild weather, and it is renowned for its vast beaches that attract tourists from around the world throughout the year. It has been classified among the beaches awarded the Blue Flag, a certification given annually to the best beaches that meet the highest environmental and safety standards.
According to data from the Cyprus Statistical Service, there has been a noticeable increase in incoming tourists to Cyprus each year. Whether you’re seeking a multicultural cultural destination, planning a place to achieve business goals, or considering a retirement destination, Cyprus is worth considering as an investment destination.
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Highly developed Infrastructure
Cyprus takes pride in its world-class infrastructure, which makes business management and daily life much more manageable than expected. Cyprus offers advanced road, air, and maritime transportation services, widely recognized as a significant competitive advantage in attracting investment to the country.
With transportation networks that provide easy access across the entire island, two seaports in Larnaca and Limassol, and two world-class international airports in Larnaca and Paphos, which together welcome more than 10 million visitors annually, they play a crucial role in connecting Cyprus to other parts of the world.
Furthermore, significant investments have been made to transform the island into a major communications hub in the region, linking Cyprus to networks in the Mediterranean and European Union countries.
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Tax System and Competitive Incentives
Cyprus boasts several competitive advantages that the government has developed in recent years, creating numerous opportunities for investors and entrepreneurs looking to relocate to Cyprus. The government has fostered a fertile investment environment that has encouraged foreign investment.
The country offers one of the lowest corporate income tax rates in the European Union, at just 12.5%. Additionally, Cyprus has signed double taxation avoidance agreements with more than 60 countries worldwide, which can bring significant benefits to individuals and companies.
Furthermore, the Cypriot government provides various tax exemptions on income distributions from companies whose headquarters are located outside Cyprus, This includes tax exemptions on income generated from the sale of financial assets such as stocks and bonds, These tax incentives contribute to making Cyprus an attractive destination for investors and businesses.
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The country grants Permanent Residency through Investment
Cyprus offers investors a unique opportunity to obtain permanent residency within 3-4 months, which can lead to Cypriot citizenship if they meet the requirements. The Permanent Residency Program in Cyprus with a fast-track option was launched in 2016.
This program aims to attract investments to the country, allowing foreign investors to obtain permanent residency permits in Cyprus by purchasing property worth €300,000 or more. Permanent residency can be obtained within 3-5 months, provided that property ownership is maintained.
In return, you can enjoy the benefit of obtaining permanent European residency for yourself and all eligible family members, as well as the ease of obtaining a Schengen visa after obtaining Cypriot permanent residency. Additionally, you can expect a good return on your investment.
If you are interested in real estate investment in Cyprus, Greece, Spain, or the United Kingdom, contact us by clicking on the link here.
