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CYPRUS. Cyprus Demand Cyprus is the only country in the Euro zone to record positive growth in the first quarter of 2009 and the only country in the Euro.

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Presentation on theme: "CYPRUS. Cyprus Demand Cyprus is the only country in the Euro zone to record positive growth in the first quarter of 2009 and the only country in the Euro."— Presentation transcript:

1 CYPRUS

2 Cyprus Demand Cyprus is the only country in the Euro zone to record positive growth in the first quarter of 2009 and the only country in the Euro zone not to have required public capital injections into its financial sector. The island has a worldwide demand for property, including Europe, Russia, South Africa and the UAE.

3 Cyprus Prices The property market in Cyprus is still one of the fastest growing in the European Union. All prices are now in Euro this offers currency stability and removes the risks associated with independent currency fluctuation.

4 Cyprus Financial Recent entry into the Eurozone (January 2008) is a further vote of confidence. Investment restrictions prior to EU accession have now been lifted, resulting in increased capital inflow from the US, Far East and mainland Europe.

5 Cyprus Rental & Resales Vibrant resale market offers investors good exit strategy. Good rental potential and a healthy growth rate ensures Cyprus remains a European investment hot spot. A good rental market gives owners an optional source of income to assist with any mortgage payments and annual charges.

6 Cyprus Cash Flow There are no exchange restrictions on current international transactions. Non- residents and foreign investors may freely repatriate proceeds from their investments in Cyprus. Most banks in Cyprus have on-line banking facilities allowing you to manage your finances from anywhere in the world !

7 Cyprus Taxation Cyprus is the lowest tax location in Europe and has in place double taxation treaties with over 40 countries. Capital Gains Tax is payable at 20% on the profit of the disposal of immovable property. The first €17,100 is tax exempt or the first €34,200 if property is jointly owned by a couple. Inheritance tax was abolished as of 1 st January 2000.

8 Cyprus Taxation A highly advantageous tax regime: 10% corporation tax. 10% corporation tax. 5% tax on overseas income and assets of retirees / foreigners including pensions. 5% tax on overseas income and assets of retirees / foreigners including pensions. 20% capital gains tax. 20% capital gains tax. No inheritance tax. No inheritance tax. No wealth tax. No wealth tax.

9 Cyprus Company Foreign companies are also taking advantage of Cyprus' privileged & strategic geographical location at the crossroads of 3 continents: Europe, Africa & the Middle East. ALL dividends, dividend income and profits from overseas establishments are tax exempt.

10 Cyprus Mortgages Finance is readily available in Cyprus in many currencies and at competitive interest rates Many Currency exchange companies offer fixed yearly exchange rates with minimal fee to help you budget your mortgage repayments.

11 Cyprus Retirement You can easily receive an overseas pension in Cyprus. Pensions from abroad are subject to a 5% flat rate of tax (with an initial exempt annual allowance of €3,417.20). Duty free car allowance for retirees. Large British ex-pat community (66,000) meaning Cyprus is a very attractive destination for English speaking retirees.

12 Legal British based legal/conveyancing system (Cypriot law is based on English law). All contracts are written in English. All properties are freehold. National land registry system (based on UK land registry). It is as safe to buy in Cyprus as it is in UK.

13 Cyprus Weather Cyprus has one of the longest tourist seasons in the whole of Europe with over 330 days of sun per year. Average temperatures range from 16°C in January to 32°C in July. Paphos and Limassol have tourist facilities all year round.

14 Cyprus Everyday Living A low cost of living offers an improved quality of life. Almost all Cypriots speak English! Excellent public & private education facilities. Everyone drives on the left hand side of the road. (you can import your UK car) Cyprus has a very low crime rate. 1 / 6 th of the EU average!

15 Cyprus Lifestyle Medical insurance is cheaper than UK and usually covers the policy holder worldwide. Cyprus has advanced medical care (People visit Cyprus especially for medical procedures). Pet friendly destination! Adoption of the European pet passport scheme and home quarantine rules ensure your pets are welcome.

16 Cyprus Lifestyle 3 Pin plugs. No need to change plugs on imported appliances. Advanced telecommunication systems (rated 3 rd in the world). Low cost utilities*. Electricity around €250per year. Water around€100per year. Low cost utilities*. Electricity around €250 per year. Water around €100 per year. Council Tax around € per year. Council Tax around € per year. *Depending on location & usage.

17 Cyprus Marinas 4 New marinas are planned for Cyprus:  Limassol  Paphos  Larnaca  Ayia Napa The Paphos marina will be situated in Kissonerga and will have a 1000-yacht capacity. The project has been started and completion is expected in 4 years.

18 Cyprus Golf All 3 established golf courses are in the Paphos district.  Tsada  Secret Valley  Aphrodite Hills. Plans are underway for a further 11 golf courses in Cyprus. Including an 18 hole European Golf Federation endorsed course at the Larnaca golf and country club and a Nick Faldo designed course near Paphos.

19 Cyprus Tourism The number of visitors to Cyprus increased by 0.6% in 2007 to 2.4 million. Tourism is predicted to grow by 4.6% over the next 10 years. This is good news to property investors looking for a ready market. Tourism generated around € 4.2 billion in 2007, and by 2016 revenue from tourism is projected to reach € 8.8 billion.

20 Cyprus Location Availability of land. It is projected that within 5 years most prime locations will be taken and this will increase prices further. Planning policy restricts the height of buildings and zoning policy restricts the density. This helps protect both the character and views of existing properties. Expansion of the Paphosairport has been completed and Larnaca is underway to cater for increased traffic. Expansion of the Paphos airport has been completed and Larnaca is underway to cater for increased traffic.

21 Our Services I offer a truly INDEPENDENT, NO HASSLE Advice and Introduction Service, which is completely free to the purchaser. I know the Island well, and understand the pitfalls of buying property abroad. I offer: S Search for projects based on your requirements. A Arrange inspection visit and/or accommodation at special rate. rrange for you to be escorted by appropriate Builder or developer dvise you on funding options. R Recommend highly regarded & reasonably priced Solicitor ( who speaks English). ecommend a Bank, because you will need to open a Cypriot Bank account. I If required introduce you to UK based Independant Financial Adviser. A Advice on utilities, local services and title deeds after purchase. E Ensure that you get the best possible rate for transferring funds. So what have you got to lose? Complete the enquiry form on our web site or give me a call on You are under no obligation whatsoever! Let us discuss your dreams, and help you realise them.


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