Cyprus is an appealing investment destination for a variety of reasons, including its strong economy, increasing foreign direct investment (FDI), favorable tax incentives, short-term rental market, moderate climate, Cyprus permanent residency program, easy access to the EU, skilled workforce, low cost of living, family-friendly environment, high-quality professional services, ease of company formation, and excellent health system.
Reasons to invest in Cyprus
1. Strong Economy:
Despite global economic uncertainties, Cyprus’s economy has proven robust, with GDP growth projected at 3.5% in 2022 and 2023. This growth is predicted to continue until 2024 and 2025.
2. Foreign Direct Investment:
Foreign Direct Investment (FDI) has increased significantly in Cyprus, particularly in the real estate industry, demonstrating global trust in the market.
3. Favorable tax incentives:
Investor profits will increase due to the EU’s lowest corporation tax rate of 12.5%.
4. Tax deductions:
For real estate investments, there are more tax breaks and incentives available, which increases returns.
5. Tourist attraction:
With over 3 million visitors annually, Cyprus is a well-liked vacation spot, which encourages the growth of short-term rentals.
6. Year-round attraction:
Because of the island’s year-round appeal due to its Mediterranean environment, landowners’ rental income is stabilized.
7. Permanent Residence Program:
A minimum real estate investment of three hundred thousand euros is required to get Cyprus permanent residence.
8. Fast Track Operation:
The shortened approval procedure now takes less than two months to complete, enabling a fast track to European residency.
9. Family Integration:
The system of Cyprus permanent residence covers the entire family, including dependent children up to the age of 25 and the applicant’s parents.
10. Infrastructure:
Large-scale expenditures in public transportation and transportation infrastructure, such as roads, improve accessibility and raise property values.
11. Technological advances:
Digital transformation programs and Cyprus’s planned smart city projects will provide contemporary facilities to properties, increasing their appeal to purchasers.
12. Historical data supports investment:
Property prices have been steadily rising over the last ten years, growing at an average yearly pace of 4-6%.
13. Low interest rates:
Cyprus has always had cheap mortgage rates, which has facilitated investor access to real estate.
14. Member of the European Union:
Cyprus enjoys access to the individual market and customs union as an EU member utilizing the euro, giving investors the same rights as any other EU nation.
15. Qualified and educated workforce:
With 55% of its workforce holding a bachelor’s degree or above, Cyprus has a highly educated and skilled populace that speaks English fluently.
16. Reasonable cost of living:
Cyprus is among the 27 nations listed in the Economic Intelligence Bureau’s Quality of Life Index and has a low cost of living in addition to a mild climate with 300 days of sunlight annually.
17. Family Friendly:
Cyprus is a family-friendly location with top-notch schools, healthcare, and other amenities, drawing more transfers and generating investment possibilities.
18. High-quality professional services:
Professionals with training and qualifications from Cyprus who speak Greek, English, and Russian fluently offer financial, accounting, and legal consulting services.
19. Fast Corporate Establishment Procedure and Low Fees:
The procedure of establishing a company is straightforward in Cyprus. In an attempt to draw in international investment, the government of Cyprus supports foreign investors. No more than 10 days are needed for the registration process. Depending on the business, different corporate fees (including government taxes) range from 1,000 to 2,500 euros.
20. Health Sector:
Cyprus boasts a first-rate healthcare system that is renowned for its cutting-edge facilities and superior care standards. The State offers a range of healthcare services, including as general care, specialty clinics, and cutting edge hospitals.
