When looking at Cyprus, one realises there is much more to this island than a mere “sun and sea” destination. Strategically located at the crossroads of Europe, Africa and Asia with full access to the world’s largest single market and a member of the EU since 2004, Cyprus has always been a popular destination for visiting and one in which to live and also to do business. The island is a modern, cosmopolitan and transparent business centre, committed to offering a high-quality, duly regulated services and a unique value proposition that ensures the best possible experience for investors and business people worldwide. With its vibrant, multicultural society, unique natural beauty, an advanced infrastructure, a pro-business environment and a thriving international presence, Cyprus has what it takes to be the investor’s next strategic choice and the individual’s preferred travel destination.
Cyprus At a Glance
The Cyprus’ Economy Success Story
Cyprus has experienced an unprecedented economic growth during the last few years. This growth is reflected in all macroeconomic indicators such as GDP growth, decrease in national debt and unemployment. All credit rating agencies have upgraded Cyprus’s economy, keeping a positive outlook for the future. Major direct foreign investments were recently made in sectors such as Banking, Hotel and Leisure, Real Estate, Retail and Pharmaceutical Manufacturing.
Cyprus as an International Business Center and Relocation Destination
The number and range of companies choosing to relocate their operations to Cyprus have risen steadily in recent years. The Government of Cyprus has introduced a new strategy for attracting foreign companies and skilled talent to Cyprus. The strategy mainly focuses on high technology, shipping, pharmaceutical, innovation, and research and development companies. This strategy included a series of new incentives concerning residency, taxation, and employment, through a fast, simple, and streamlined procedure. During the last few years hundreds of companies from many sectors have relocated to Cyprus. Cyprus is increasingly ranked on the shortlist of decision makers when it comes to choosing the right location to establish international and regional headquarters.
Cyprus as a prime Mediterranean Lifestyle Destination
Ranked as one of the healthiest countries in the Mediterranean, Cyprus has an excellent high-quality healthcare system, provided through its National Health System (NHS) as well as a thriving private healthcare sector. The NHS offers state-of-the-art medical services and the highest quality in-patent and out-patient care to all citizens and permanent residents. Cyprus boasts internationally educated specialists with top-notch facilities and a plethora of medical insurance options.
Why Invest in Real Estate in Cyprus
•Stable business environment: As a member of the EU and Eurozone community, Cyprus ensures safety and stability for investors, while also offering them market access to more than 500 million EU citizens.
•An investment with high returns: Real Estate has been the preferred investment for Cypriots and Foreigners in Cyprus. Real Estate is the most profitable long-term investment and yields have been rising all over Cyprus during the last years. As an indication annual investment yields for apartments, office and retail space are well above 5%.
•The Land Registry system is one of the most advanced, transparent, efficient, and reliable systems in the world, being based on the British equivalent. Purchasers of property in Cyprus will be far more secure with regards to matters such as title deeds than they might be in other Mediterranean countries.
•Strategic EMEA access. Good geographical location between the EU, CIS, Middle East and Africa regions. •Ease of doing business, supported by a pro-business tax and legal system, modelled on English Common Law •Attractive Tax Regime
•The English language is well adopted.
•High Quality Healthcare System
•High Quality Education System: International private schooling from kindergarten to university
-A cosmopolitan island with a great lifestyle
-Ranked as the 5th safest small country in the world -
-The sunniest country in Europe with 64 blue flag beaches
-Relatively low cost of living compared to other European business hubs
Cyprus has highly developed infrastructure, high quality educational institutions and medical centers
Versatile labour force
Cyprus possesses a well-trained and versatile labour force that speaks English fluently
Cyprus is a multi-cultural society with a number of ethnicities other than Greek-Cypriot.
International competitive business environment
Cyprus combines an international competitive business environment with a pleasurable and balanced way of life. The expatriates who relocate to Cyprus can enjoy a high quality of life with their families
3rd largest party Ship Management centre in the EU
THE SUNNIEST COUNTRY
in Europe with over 340 days of sunshine annually
CREDIT RATINGS/ OUTLOOK FOR CYPRUS
• DBRS: BBB / Stable
• S&P: BBB / Positive
• Fitch: BBB / Stable
• Moody’s: Ba1 / Stable
Fully developed digital network, with reliable high-speed internet on international connectivity and excellent telecommunications infrastructure
Based on the English common law, with civil modifications