About Cyprus
- The property market throughout Cyprus is one of the fastest growing in the European Union and prices in some areas are increasing by an annual average of 20%.
- Property prices are still lower than in many other European countries, particularly in the north.
- Capital Gains Tax of only 20% and Corporation Tax for Cypriot limited companies (through which you can own your property) stand at only 10%.
- Foreign residents permanently residing in Cyprus pay only a 5% flat rate of income tax.
- 340 days of sunshine a year make it a comfortable and enjoyable place to live.
- Cyprus enjoys a high standard of living, with good facilities, including top- class golf courses.
- A low cost of living often makes for an improved quality of life.
- 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.
- 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.
- Cyprus has seen a sharp increase in the number of golf properties available, while golf property prices fetch up to 40% more.
- 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”.
- Entry into the Eurozone in January 2008 is a further vote of confidence.
- A very efficient land registry with straightforward and well-administered procedures makes property purchase a safe option.
- A comparatively low tax rate, including a Double Tax Treaty with southern Cyprus and the UK are attractions for investors.
- You can easily receive your UK pension, tax-free in Cyprus.