At the moment there is a growing urgency for many South Africans to want to diversify and invest in offshore property to secure a Plan B; as the property investment offers an insurance against political instability and economic risk.
Europe is by far still the preferred property investment destination as not only does the EU offer many opportunities, but Europe is also the world’s largest single market & global trading block. In The Med, Cyprus has become even more of a desirable destination due to the incredible lifestyle options on offer and being away from the mainland.
Cyprus – an English-speaking, ex-British colony and full member of the EU and Common Wealth – offers property investors the option to secure either permanent residency or a 2nd passport for him/herself and the family.
In Cyprus, the permanent residency permits are secured in 4 – 6 weeks of making application and extend to 3 generations in the same family – including dependent children up to age 25 as well as both the parents and parents-in-law. There is no prescription to either buy in Special Designated Areas (SDA’s) or to physically live in the country annually. The investor is allowed to rent out the property to earn a Europe-based income. No other country in Europe offers this, so it is exclusive to Cyprus.
Getting a 2nd passport via Cyprus’ ‘Citizenship through investment’ programme is also unique in Europe. Citizenship is granted in 3 months; and all dependent children up to age 28 qualify. Cypriot citizenship gives the investor and his family visa-free access to more than 169 countries in the world; and complete freedom of access to the whole EU – including the UK. The whole family can live, work, study and travel anywhere in Europe with no restrictions.
The appeal Cyprus has as a country is that the lifestyle on offer is very similar to South Africa; but the country is not plagued by any social problems – nor is there a refugee crisis. The country is 1st world with English-speaking universities, international brands & facilities and world-class hospitals, yet the cost of living in Cyprus is a fraction of that in South Africa.
The Western side of the island has very similar topography to the Western Cape; and South Africans tend to favour this area over the other provinces.
There are many championship golf courses, traditional wine estates, lush agricultural belts and it is a quick 40 minute drive to the mountains where it snows for 3 months of the year.
Cypriot Realty – a proudly South African company in operation for more than 9 years with offices in Cape Town, Sandton and Cyprus – can assist you. We are recognised and respected as Southern Africa’s authoritative offshore investment specialists, promoting Cyprus as an ideal destination for acquiring EU citizenship or permanent residency, property investment, immigration or retirement and starting an EU-based business – we understand investor’s needs.
Contact us for a confidential meeting to discuss how we can help you realise your Plan B in Europe.