WHY INVEST IN CYPRUS ?

Cyprus has uniquely positioned itself as the premiere target for investment in the Mediterranean sphere.

Welcome to Cyprus

 

These are exciting times in Cyprus for economic growth and development as the financial sector continues to expand and surprise.

At 12.5%, Cyprus’ corporate tax rate is one of the lowest in Europe. Such an attractive tax rate as well as a comprehensive roster of double tax treaties places the island nation at the top end of preferred jurisdictions among professional tax planners.

The Gross National Product of Cyprus is predicted to grow by 2.5—3.5 % in the coming year, which is double the norm for EU countries. Such strong economic growth means an improved employment rate, which of course translates into increased household spending on services and consumer goods, in turn fuelling robust financial health for the country as a whole.

 

Investment Programme

Recently implemented property tax incentives have helped to instigate a growing demand from the domestic sector a new programme for naturalisation of investors enticed many buyers from outside the EU to purchase Cyprus property. The programme, initiated in 2013 to help boost the post-Eurocrisis economy, is now called the Cyprus Investment Programme and has lately adopted stricter requirements as well as a limit on investors in order to conform with EU standards and practises.

 

New opportunities

The Central Bank has predicted substantial new investment in energy infrastructure to accommodate a tremendous surge in construction as well as investment in casinos, marinas, shipping transport and commercial real estate development, particularly in the hotel sector. In the very near future, reforms to control public spending, initiatives to speed and promote private investment, to grow the investment fund sector and seriously boost the development of natural gas resources, will go a long way towards ensuring Cyprus’ continued prosperity.

Each year in Cyprus the number of tourist arrivals increases substantially, setting one impressive record after another, as the service industry upgrades itself and embraces innovative new initiatives, which exponentially enhance overall economic growth.

Owing to its ideal Mediterranean climate, exceptional levels of quality of life factors, a very low crime rate and Cyprus’ strategic proximity to three continents, the real estate sector, both private and commercial, has seen tremendous growth amongst investors from every corner of the globe.

 

By: Matthew Stowell