There is a perception that it is very expensive and onerous to realize a Plan B in Europe. In Cyprus – an English-speaking, ex-British colony and full member of the EU – this perception couldn’t be more further from the truth.
Cyprus is regarded as one of the safest countries in the world; and last year saw an increase of 65% in property sales to overseas buyers from the previous year. Huge investment is pouring into the economy with all the infrastructural developments and the enormous natural gas fields.
There’s never been a better time to explore investing in Cyprus. The main benefits of investing in Cyprus are to secure permanent residency or a 2nd citizenship, through property investment thereby realising a Plan B, the lifestyle options and being a secure investment destination.
Your Plan B
Acquiring 2nd citizenship in an EU country is highly sought after, not only as an effective legacy planning & currency-hedging tool, but also to secure tangible benefits like a better quality of life, global mobility, economic opportunity and the freedom to live and travel throughout the European Economic Area (EU, Iceland, Liechtenstein and Switzerland). Having dual citizenship offers additional insurance against political instability and offers an efficient tax planning solution.
Cyprus’s Citizenship though Investment programme offers an attractive option for investors through property acquisition. Not only is there zero inheritance tax, but the investor is able to rent out his / her properties to earn a Euro-based income. Cyprus’ programme is the quickest in Europe as applications are vetted in 6 months; and dependent children up to age 28 as well as the parents of the main investor also qualify. Once citizenship is granted, there is an extensive list of countries where no travel visa is required and Cypriot citizenship extends down the line to future generations. On Cyprus’ Citizenship programme you do not need to live in the country for your residency to remain valid, nor do you need to be domiciled in Cyprus for tax.
Securing permanent residency is also an option worth considering. Being a resident of a country allows the bearer of that residency permit the legal right to live in that country without having to go through an onerous immigration process.
The permanent residency programme on offer in Cyprus has been voted as the best in Europe because it automatically qualifies 3 generations in the same family line, including dependent children up to age 25 as well as both the parents and the parents-in-law of the main investor.
Not only is the application process very quick – it takes just two months for residency to be approved – but the permanent residency status for the whole family is for life, the permit never expires nor needs to be renewed. Another benefit is that you do not need to live in Cyprus to retain your residency status. However Cyprus permanent residents do have the right to apply for citizenship following their physical presence in the country for a number of years, so will in fact follow the naturalisation programme.
Another huge benefit of investing in Cyprus is the fabulous lifestyle on offer. Being an ex-British colony, there is no language barrier – everyone speaks English and all the documentation is in English. Cyprus has a relaxed, stress-free lifestyle offering an ideal family environment. Your children & grandchildren will benefit from excellent schools and tertiary education instructions (all Euro-accredited); and the healthcare facilities and medical care are world class. Cyprus is very similar to South Africa. The golf courses are world-class, the countryside is breathtakingly beautiful and Cyprus has 64 blue-flag status beaches, the cleanest seas in the Med and a mountain-range where it snows for 3 months. This is a country for enjoying and exploring.
Safe investment destination
Cyprus offers a safe, solid environment in which to invest in real estate. Properties in Cyprus offer excellent value for money when compared to other European countries – especially homes right on or near to The Med. The lush & beautiful Western side of the country is similar to the Western Cape and enjoys the biggest demand and highest growth.
In Cyprus, unlike some other European countries, as an ex-pat you are not restricted to buying only in Special Designated Areas (SDAs), nor are you prescribed to stay in the country every year to retain your residency. Being able to rent your property out has the real benefit where you can earn a decent Euro-based income. There is a high demand for both long-term rentals and short-term holiday lets. Not only will your asset generate income for you, but you have complete peace of mind that the property purchase is legitimate and your ownership is guaranteed.
Your trusted partners
Cypriot Realty – a proudly South African company in operation for nearly 13 years with offices in Sandton, Cape Town and Cyprus – is your trusted partner to realise your Plan B in Europe. We are recognised and respected as Southern Africa’s authoritative investment specialists promoting Cyprus as an ideal destination for acquiring EU citizenship or permanent residency, for property investment, for immigration or retirement and starting an EU-based business. We understand investor’s needs, and we have an impressive track record showcasing our success.
Property inspection trips
We arrange personalized property inspection trips for you to come to Cyprus to look at the property options and to experience for yourself the lifestyle on offer. From arranging meetings with taxation and legal specialists, to opening up your offshore bank account – we hold your hand every step of the way.
Contact us for a confidential meeting to discuss how Cyprus can fit in with your offshore plans – we will assist and guide you every step of the way to realise Your Plan B.