ABOUT CYPRUS
Situated in the sunny north-eastern part of the Mediterranean basin, at the crossroads of Europe, Africa and Asia lies the beautiful and sunny island of Cyprus.
Cyprus has a subtropical climate with very mild winters on the coast and warm to hot summers. It has 340 dry days per year with over 3000 hours of sunshine, with rain occurring mainly in the winter.
With its beautiful sandy beaches perfectly complimented by dramatic mountain ranges, its peaks reach an impressive altitude of 1952 m meaning they are perfect for skiing in the winter months.
In short, Cyprus enjoys the perfect all-year round climate the most pleasant and mild winter in the EU. Among all cities in this part of the EU, Limassol has the warmest winters; in the period January – February average temperature is 17–18 °C (63–64 °F) during the day and 9-10 °C (48–50 °F) at night. Therefore, it is no surprise that it is among the best places to settle in or make an investment in real estate in the world.
With money to spare, shrewd investors have backed their instincts and made an investment in high-end property in Cyprus.
Long sandy beaches are lapped by the blue Mediterranean waters, charming unspoilt villages nestle in the slopes of the Troodos mountains, and historic Byzantine churches, medieval castles and ancient ruins paint the rich and diverse picture that Cyprus is today.
At the eastern edge of the Mediterranean Sea lies the beautiful island of Cyprus. It is an island rich in culture, proudly boasting over 9,000 years of history.
It is the third largest island in the Mediterranean after Sicily and Sardinia and covers an area of approximately 9,250 square kilometres. Cyprus is situated in a prominent location and is the stepping stone between the three continents of Europe, Asia and Africa.
From as early as 2500 BC during the Bronze Age, Cyprus became the trading centre for where the East meets the West. Throughout these early years, the island developed a connection of all cultures, culminating in a growth so spectacular that Cyprus dominated the Mediterranean area. The historical importance and the position of Cyprus outweigh its small size.
The abundant natural wealth of Cyprus along with its dominant position created an attraction for many of history’s conquerors. These included the Phoenicians, Assyrians, Franks, Venetians, Ottomans, British and many others, who throughout history all stamped their mark on the island with untold disasters and human tragedies. However, Cyprus has continually managed to retain its Greek identity. Roman theatres and villas, Byzantine churches and monasteries, castles of the Crusaders and Medieval castles, Ottoman mosques and prehistoric settlements are all testament to the fact that Cyprus experienced many races of people trying their utmost to conquer and gain control of the island.
Nicosia, located in the east of the geographic centre of the island, is the capital of Cyprus and has a population of approximately 330,000. The second largest city, Limassol, is situated in the south-west and has a population of around 240,000 inhabitants. Limassol is the principal seaport in Cyprus and is an established player in the shipping industry. It is also a thriving industrial centre and a popular location for tourists. Larnaca, the third largest city has a population in the region of 195,000 and includes the region of Ammochostos, also known as Farmagusta. Located in the south, Larnaca boasts the main international airport, an International Free Trade Zone and a rapidly growing tourism industry. The smallest city on the west coast of Cyprus is Paphos. With a population of about 92,000 inhabitants and a very strong tourist industry, Paphos is the location for the second international airport.
Cyprus has a presidential system of government, in which the President of Cyprus is elected in a secret ballot by the population for a term of five years. The House of Representatives is the legislative body and consists of 56 elected members, who also serve a five-year term. The legal system is based on English and EU law. Cyprus is a member of the United Nations, the European Union and the Eurozone, the Commonwealth and the Council of Europe.
WHY CHOOSE CYPRUS
A unique and unrivalled proposition for investing and living, the full EU-member of Cyprus is poised on the cusp of three continents – namely, Europe, Africa, and Asia – and enjoys the bounty of this exclusive position that no other country can boast.
With two first-class international airports and excellent flight connections, the island is perfectly placed for working and travelling within the EU, and beyond.
Cyprus’ rich heritage, diverse culture, and legendary hospitality mean that one and all are warmly welcomed and made to feel at home on the island. Its leisure profile, meanwhile – spanning beautiful beaches, fresh air, wonderful Mediterranean climate, and cosmopolitan cities – is unsurpassed in terms of offering low-cost but high-standard living.
The island’s modern, free-market, service-based economy, and advantages tax and business conditions, make it a favoured destination for professional pursuits.
Further to existing, mature pillars of the economy, spanning financial and professional services, shipping, tourism, commerce, and more, the discovery of substantial hydrocarbon reserves in the island’s Exclusive Economic Zone is attracting great attention, and has resulted in a surge of foreign direct investment and development.
Concurrent to these bountiful business opportunities, Cyprus is a safe and stable location, replete with superior English education opportunities and world-class properties, making it an ideal location for families and students.
– Wonderful climate and a healthy environment.
– Safe and comfortable life;
– High standard of living;
– High level of education and professional expertise;
– Investment opportunities;
– Friendly and stable business environment for investors;
– Low formation fees;
– Financial and Tax Benefits;
– Stable legal and tax environment;
– Double tax treaties with more than 55 countries;
– Full member of European Union;
– Member of United Nations;
– Friendly local people;
– Use of English and Greek language.
– Cyprus boasts a rich and diverse culture, a mild Mediterranean climate, a safe and stable setting ideal for raising families, and a perfect location for business and travelling.
WHY CHOOSE LIMASSOL?
– Limassol is Cyprus’ investment hub;
– Ideally located no more than 45 minutes from all cities & airports in Cyprus;
– Limassol combines the safe, high standard relaxed lifestyle of an island and the opportunities of a European metropolitan city with a multicultural population;
– Along the 17 km long sandy beaches;
– Two Marinas;
– International Private schools & University;
– Excellent healthcare;
– Limassol holds key role to the economy of Cyprus and is a major contributor to the island’s GDP;
– Fast growing city in terms of residential, retail and office space;
– Port / cruise hub.
Limassol is the second largest town of Cyprus and the most important tourist and commercial centre on the island. It enjoys sandy beaches, luxury 5-star hotels, and a wide range of traditional Cypriot tavernas, all other types of cuisines, bars and nightlife.
Enchanted by the Mediterranean Sea, Limassol is famed for the hospitality of its people, historical sites,, luxury hotels, designer shops and the best nightlife on the island- making it the perfect place to live.
Interesting Events throughout the year in Limassol:
– Wine Festival – Limassol Zoo (August/September)
– Limassol Carnival – Around Limassol (March)
– Cyprus Rally – Around Cyprus (May)
– Lemesia Sports Event – Various Locations in Limassol (October)
– Russian-Cypriot Festival – Molos Area (June)
– Beer Festival – Molos Area (June)
– European Dance Festival – Rialto Theatre (May)
– Amathusia Fstival – Ayios Tychonas (May)
– Ballet Festival – Various theatres in Limassol (tbc)
– Shakespeare Nights – Kourion Theatre (June)
– Berengaria Theatre – Kourion Theatre (March)
– Annual Contemporary Dance Platform – Rialto Theatre (March)
Interesting Places to Visit in Limassol:
– Limassol Zoo
– Limassol Medieval Castle
– Kolossi Castle
– Kourion Archielogical Place (Amathusia)
– St Raphael Marina
– Limassol Marina
– Molos Promenade and Beach
– Ayiou Andreou street (old traditional part of Limassol)
– Makarios Avenue for shopping
– My Mall Limassol (Zakaki Area)
– Cyprus Wine Museum (Episkopi/Kolossi)
– Dhassoudi Beach
– Independance Street (Anexartisias) for shopping
– Limassol Municipal Art Gallery
– Limassol Municipal Library
– Fassouri Watermania Waterpark
– Grand Mosque
– Archeological Museum of Limassol
– Folk Art Museum
BUSINESS IN CYPRUS
Cyprus has long established itself as a thriving business hub, with a vast array of investment opportunities in key growth sectors of the economy. The island’s ideal strategic location, advanced infrastructure and high quality of life do not only represent key reasons to relocate and live in Cyprus, but are also at the heart of an investor’s choice to invest in it.
Cyprus has a modern, business-friendly tax system with low corporate and personal tax rates and double taxation arrangements with more than 40 countries. As a member of the Eurozone, there are no exchange restrictions, and investors may freely repatriate proceeds from investments in Cyprus.
Cyprus business advnatages are listed below:
– Highly Educated Workforce
– Low Business Tax Rate
– European Business Hub
– Strategic Location
– 4th Largest Shipping Registry
– Great Tourist Destination
– Known International Businesses
– Fast Growing Economy
– Significant exemptions
– Energy Hub
BUYING PROPERTY IN CYPRUS
The Buying process of property in Cyprus are as follows:
– Find Your Property
– Residency or Citizenship Requirements
– Conclusion of the preliminary contract
– Open a Cypriot Bank Account
– Preparation of the sale contract
– Document registration
– Completion of mutual settlements
– Obtaining of the Title Deed
CORPORATE CONDITIONS
Companies headquartered in Cyprus benefit from a favourable tax regime and full European status. Cyprus boasts one of the lowest corporate tax rates worldwide at just 12.5% (alongside numerous additional tax advantages), which is one of the key reasons that Cyprus has become a favoured investment destination.
Moreover, Cyprus’ business environment is brimming with advantageous qualities, inclusive of its strategic location at the crossroads of three continents, its superior legal, banking and accounting services, its highly educated and skilled workforce, and its excellent infrastructure and telecommunications network.
Large-scale projects, privatisations and a burgeoning oil and gas sector are firmly placing Cyprus on the map as a hotspot for investment.
Attracting foreign direct investment is at the heart of the Government’s policy. It is committed to creating optimal conditions for businesses to flourish by simplifying administrative procedures, improving the tax framework, guaranteeing an open and transparent legal system and eliminating internal barriers.