Page 61 - Annual Magazine 2017

CYPRUS | LIVE & INVEST
Cyprus

Destination

Just living is not enough...
one must have sunshine, freedom,
and a little flower
-Hans Christian Andersen-
WHY MAKE CYPRUS
YOUR BUSINESS?

Story by Eleni Hoplaros THE ECONOMY
The Cypriot economy has proven to be a resilient one as evidenced
by the extraordinarily quick way it recovered after the 2013 bail-
in. Cyprus operates under an open, free-market economy and in
2015 achieved a positive 1.5% GDP growth rate confirming its
adaptability and commitment to advancement.

While more than 75% of the island’s GDP is attributed to financial
W
and non-financial services (provided mostly by the private sector),
about 25% of the GDP can be credited to services of a financial
nature, such as fiduciary, administration, accounting, investment,
banking and corporate.

Cyprus is also a globally renowned shipping center, respected
for its adherence to top safety standards and quality. The Cyprus
Registry is the 3rd largest in the EU and the 10th largest globally.
INVESTING IN CYPRUS
There are a number of reasons why one chooses to invest in Cyprus,
particularly for its competitive tax regime with the lowest corporate
tax rate in Europe (currently 12.5%), and the advantageous double
tax treaties which Cyprus holds with 45 countries.

INVESTING IN CYPRUS REAL ESTATE
WHY MAKE Changes in Cyprus legislation have seen the Cyprus government
offering considerable incentives to investors, particularly through
CYPRUS YOUR HOME? their citizenship by Investment and Permanent Residence Programs.
CITIZENSHIP BY INVESTMENT
HISTORY GEOGRAPHY & CLIMATE Through this program, a buyer is eligible to become a Cypriot
There is something interestingly compelling about this little The third most populous island in the Mediterranean, Cyprus is citizen and obtain a Cyprus/EU passport through naturalization if
island, so to say that Cyprus is nothing more than just a lazy strategically located at the crossroads of three continents, Europe, certain criteria and conditions are met, such as an investment of at
beach destination would be undermining the hundreds of years of Asia and Africa. This has seen the island become a financial hub least €2m in real estate.
multifaceted history and culture that’s seeped into its core. and gateway for conducting business in these regions.
PERMANENT RESIDENCE PERMIT
It’s a vivid past whose story is still being told today through the Cyprus also has one of the warmest climates in the Mediterranean, with Any third country national can be granted permanent residence if
archaeological sites, Roman relics, Byzantine frescoes, Neolithic warm temperatures lasting for about 8 months of the year. Combine certain criteria are met such as the purchase of a privately owned
settlements, village squares and urban streets that continue to be this with a rugged coastline, pine-scented mountains, exquisite sandy residence with value amounting to no less than €300,000 plus
unearthed. And as this past endures, the traditions of a bygone era beaches and what is notably one of the lowest crime rates in Europe, V.A.T. and proof of a secure annual income of at least €30,000
blend seamlessly with the contemporary Cyprus of today, complex Cyprus is ideal not only as a holiday or retirement destination but also that is exclusively derived from abroad (which should increase by
and yet evocatively appealing. the perfect place for business development and investment. €5,000 for every dependent the investor has).

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