Top 4 Reasons Why Cyprus is an Ideal Country for Real Estate Investment
Since 2014 when Knight Frank, the world-famous real estate consultant, included Cyprus in the list of 5 best real estate investment destinations in the world, it was proved that Cyprus has tremendous property investment opportunities. But if you come to know about the reasons, you will be more convinced. Here are some.
1. Awesome Short-term as well as Long-term Financial Prospects
Cyprus is the crossroad of Asia, Europe and Africa and so, has been and will be a central point of the most important commercial transaction between the 3 continents. Additionally, its rather beneficial taxation system as well as cutting-edge infrastructure and services have made it an ideal destination for a range of businesses, including tourism, banking, corporate services, trading, Forex, marine and shipping, and most recently energy too because of the discoveries of huge gas reserves in Cyprus.
Therefore, there are impressive short- and long-term investment opportunities in Cyprus which make it a great choice for real estate investment.
2. Advantageous Exchange Rate
Cyprus is a full member of Eurozone and so, Euro is its official currency since 2008. While euro has undergone some ups and downs lately and depreciated in comparison to other currencies, most currency experts have predicted that it would regains most of its power within the next 3 years, due to which ROI will be enhanced.
3. Legal System and Taxation
As mentioned earlier, Cyprus has an extremely appealing taxation system, which is extremely beneficial to international real estate investing and entrepreneurship. Situation has become even better due to the many double taxation treaties of the island country with over 40 different states and its corporate tax of 12.5%, definitely the lowest in Europe.
Moreover, the legal system of Cyprus has originated from the British law (a heritance offered through years of British rule) and have further enhanced by EU and international law standards.
Due to the combination of these factors, Cyprus has an extremely reputable and favorable business environment, perfect for overseas firms looking for expansion as well as property owners that can provide these businesses the required space for their headquarters and ventures in the form of homes for sale.
4. Bonds with Europe and EU
Cyprus has very strong bonds with Europe. Actually it’s the most beautiful and vibrant eastern corner of Europe and is much more ‘western’ than several other Eastern European countries. Its highly educated, tolerant and cultured people, cosmopolitan air, classy legislation and awesome democracy offer the island country a distinct European aura that’s almost inimitable.
Furthermore, when in 2004 Cyprus joined the EU family and was totally accepted to the Eurozone 4 years later, many real estate restrictions were eliminated and an extraordinary financial boost was triggered which though suffered a blow in 2009, couldn’t eliminate it or couldn’t even suspend it.
All in all, if you are looking for investing in overseas properties, buy property in Cyprus and you will thank yourself if you invest here.