Excellent Communication & Transport Infrastructure
The strategic location of the island is ideal for travelling to Europe, Asia – Gulf region and Africa. There are two international airports served by more than 70 airlines and two major ports which serve Cyprus’ merchant marine, the 3rd largest in the EU. Within Cyprus, all cities are connected via modern motorways making travel both safe and effortless. Advanced local and international communications are offered at competitive prices and high quality.
Strong legal system & Reliable Land Registry
The legal system is a common law system, based on the UK standards and the Land Registry is one of the most advanced and reliable in the world. Purchasers of property in Cyprus will therefore be far more secure, with regards to their property transactions and title deeds, than they might be in another country. In Cyprus, the holder of the title deed is the sole legal owner and freeholder of the property. The property can be transferred to 1st degree relatives with no taxation or inheritance tax.
Services & Business
Ranked 3rd in EU in public expenditure on education as % of GDP, Cyprus has a high education index, and therefore, professional labour pool and high quality services, factors which have contributed in evolving Cyprus as an economic hub and a trade centre in the region.
Cyprus has the lowest corporate tax in Europe with 12.5% and no inheritance tax amongst its favorable provisions to businesses and entrepreneurs. Moreover, Cyprus has double taxationtreaties with more than 60 countries including China, Russia, India, Ukraine, Egypt, USA, Canada, UK, Scandinavian countries, Qatar, Iran, Lebanon etc.
Cyprus is popular for its respect towards all foreign cultures hosting a number of communities, the main ones being the English, the Russian, the German, the Armenian and the East Asian communities. Foreign schools and places of worship are available in most of these communities as well as 30 offshore banks. In Cyprus there are more than 50 embassies and consulates to which foreigners can refer for assistance.
Cyprus is becoming the new energy hub for Europe, with large quantities of hydrocarbons having been discovered off its shores which puts Cyprus into the property investors’ radar. A process already underway, international oil and gas companies have begun exploration for production and chose Cyprus as their base. It is forecasted that the oil and gas discoveries will double Cyprus’ GDP in the next decade.