Your property in Cyprus will be freehold. That means there are no expiry dates or land rates, and that your property can be passed on to your descendants. In other words, it’s your forever. Based on solid property law, partly a heritage of our ex-British colony status, ownership is straightforward. You control the property from the moment you sign a contract, a copy of which should always be deposited at the Land Registry.

A relatively low cost of living - when compared to European standards - allows you to maintain a lifestyle simply not possible in most European countries.

At the same time, visitors and locals alike benefit from all the services, facilities and commodities that bring ease and variety to modern life. Meanwhile, a state of the art telecommunications network keeps you in touch with family, friends, business… the world.

As far as your property is concerned, there are no hidden costs. You know exactly how much you will have to pay, safe in the knowledge that it will be a fraction of the price asked in most European countries.

Property prices in Cyprus are 75% less than the average in Western Europe. This makes it possible for you to own a second home for holidays or leisure, purchase a more luxurious retirement home, or simply take advantage of a lucrative investment opportunity. Despite being significantly cheaper than those of most European countries, properties in Cyprus are proven to appreciate steadily in value over time (over the last five years, property prices have increased at a rate of 15-20% per year, depending on location).

Accompanied by a strong currency, that means your property’s net worth is growing at an impressive pace!

Membership of the EU, a healthy and growing economy, a rising demand for overseas property, rights to multiple ownership and rent out granted to all member state citizens – all these have provided a firm foundation for a sustainable, healthy growth in property values for a good many years to come.

Cyprus has the lowest corporate tax in Europe of 10%.

ALL dividends, dividend income and profits from overseas establishments are tax exempt.

There is NO withholding tax on dividend income or interest and royalties paid from Cyprus.

If you spend more than 183 days per year in Cyprus, you become a Cypriot resident and are taxed on your global income according to Cypriot tax regulations.

Individuals who become tax residents of Cyprus pay an annual 5% income tax. The first €3,417.20 are tax exempt on any funds remitted to Cyprus from pensions or from income arising from overseas investments. Moreover, double taxation treaties signed with over 40 countries assures that your income won’t be double taxed (Russia, United Kingdom, Ireland, Netherlands, Italy, France to name a few).

For purchasers who are tax residents of the UK rather than Cyprus, rental income from property is taxable in Cyprus; however, this can be offset against the purchaser’s income tax due in the UK at the levels stipulated by the double taxation treaty between the UK and Cyprus. Also, 20% of rental income may be deducted for expenses incurred in maintaining the property you are renting. If you are a Cypriot tax resident, rental income incurs a further small defense tax calculated as 3% of 75% of the total annual amount of your rental income.

Cyprus’ strategic location at the heart of busy shipping and air routes linking Europe, Africa and Asia has not only made the island a major trading post but also contributed significantly to its growth as a reputable international business and services centre.