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Why Invest in Cyprus
Even before accession into the E.U. in May 2004, many UK and Ireland investors had been attracted to Cyprus, and the opportunities offered by a country with English as a second language, guaranteed sunshine for more than 300 days per year, beaches and mountains, driving on the left and property prices much less than in other Mediterranean well established markets.
In the ensuing years, improved infrastructure, technological development, quality construction and materials, comparatively low cost of living, consistent economic growth, a double taxation treaty with UK plus 40 other countries and a legal and banking system based on UK, have all contributed to a stable environment in which to invest for the future.
Whilst a flying time of four and a half hours from UK is longer than all other Mediterranean countries, prices of flights are reducing by the advent of more and more ‘no frills' carriers on the route from UK major and regional airports, all reservations being easily accessible through the internet ( Paphos and Larnaca international airports were both completely rebuilt in 2008).
The new President of the Republic, appointed in 2008, Demitris Christofias, promises to work hard on relationships with Turkey on re-unification and be active within E.U. on a number of global issues, giving even more comfort to overseas investors in Cyprus.
There is evidence now of investment by younger people in addition to the thousands of foreigners who have already retired to the island, on the back of strong tourism revenues from the same markets.
January 1st 2008 saw the introduction of the Euro as the national currency, making property prices transparent and easily comparable with competitor countries.
We believe there is still ample growth in the construction sector for a number of years to come and that Cyprus will continue to attract overseas investors certain in the knowledge that they will receive ‘value for money' for their hard earned finance.
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