Cyprus is an island strategically located south of Turkey and east of Syria between Europe, Asia and Africa. It is the third largest island in the Mediterranean Sea and it is a republic, a member of the European Union (EU) since 2004, with a per capita GDP well above the EU average, and probably the best tax environment in the EU (the lowest corporate tax – 12.5%), no capital gains on shares and virtually no inheritance tax). Cyprus also has one of the lowest crime rates in Europe and a native population accustomed to co-existence with a variety of cultures. The island’s modern transportation network, the advanced telecommunications, and its multilingual workforce are important competitive advantages for those businesses that choose Cyprus as a corporate base. Nicosia is the capital of the island.
The climate of the island is characterised by plentiful of sunshine, long dry summers and increasingly mild winters. On some hot July and August days temperatures can reach 110 F while in the cold winter days temperatures by the coast can drop down to 40 F while on the mountains (2000 meters above sea level) can go well below 32 F and it snows.
The Building and Real Estate industry is one of the key factors of the economic activity in Cyprus. Although in the last few years mainly due to the global financial crisis the sector experienced a slowdown, economic indicators in 2019 present a complete turn-around. With all its advantages Cyprus has always been very popular and an excellent option not only among British expatriates who have already formed a relatively large community on the island, but also among other EU and non-EU people who seek an appropriate location to invest in.
The sensible exploitation of the hydrocarbon reserves that were recently discovered in the exclusive economic zone of Cyprus and the prospects linked with an appropriate settlement of the long standing “Cyprus dispute” could act as driving forces for a greater momentum of progress and growth. Now is the time to invest in Cyprus!
Contact SKYY CONSULTING LTD for further information About Cyprus and for safe guidelines on how to select a solid real estate investment.