Exclusive Properties in Cyprus – Where & How

Exclusive Properties in Cyprus – Where & How

With its mild weather, a relaxed lifestyle and favorable financial regulations, Cyprus attracts tourists, investors, and HNWI (high net-worth individuals) alike. They value the affordable tax system in Cyprus and the fact that the island offers the best (easiest and quickest) citizenship by real estate investment program in Europe. That’s why there is a vast selection of exclusive properties in Cyprus.

Do you want to take a sneak peek into the world of the successful and wealthy? Find out all you need to know about luxurious homes on the beautiful island of Cyprus in this week’s My Kypros Home article. We are excited and ready to share our experience and insights.

Cyprus Facts

Visitors and residents alike value the great location and interesting history of Cyprus. For example, did you know that the island is home to the goddess of love, Aphrodite (Venus) or that it has several UNESCO World Heritage sites?

Moreover, the “Jewel of the Mediterranean” captivates people with sunny weather all year round and stunning landscapes – from the most beautiful beaches in the world (Fig Tree Bay in Protaras) to impressive mountain ranges, where you can even ski in winter!

If you love delicious food, Cyprus is the right place for you – from fresh fruit and vegetables to Meze, sweets, and coffee, the island will not disappoint you! The relaxed lifestyle, low crime rate as well as the low amount of pollution make it one of the easiest and healthiest countries to live in (top 20 in 2020).

People who choose to live in Cyprus also praise the high safety and affordable cost of living, which is about 25% cheaper than the European average. In addition, the country is renowned for its excellent healthcare. As a result, an increasing number of Cyprus’ 2,4 million visitors every year are medical tourists, who combine health and holidays. There are even special surgeries like limb lengthening surgery, which specialists offer in Cyprus, and which is gaining popularity in particular among men.

Finally, the favorable financial regulations attract entrepreneurs, digital nomads and business expats in particular. For example, the corporate tax rate is only 12.5%. And Cyprus offers one of the best tax resident (Non-Dom) programs in Europe, where you only have to spend 60 days (two months) in Cyprus to receive this status. If you want to find out more about the advantages of living in Cyprus as well as the Cyprus company set up, take a look at this article.

Cyprus and Luxury – A Perfect Combination

As you can see, Cyprus has a lot going for itself. But why does the island attract so many investors and HNWI? Let’s find out what they value about Cyprus!

For one, this small island is an ideal base for businesses, private and public investors, and most of all, a safe place for them and their families.

Besides, all nationals are allowed to apply for the Non-Dom tax residency, which particularly appeals to business owners and investors. With this rule, Non-Doms must pay competitively low taxes in Cyprus on their global income. On top, they gain access to social security and health care on the island.

But the best option for HNWIs to come to Cyprus besides founding an Ltd or sole proprietorship and to even save the payments for social security is the following: Entrepreneurs and especially investors, who can prove that they have an income of more than 6,000€ in the last 3 – 6 months can complete a registration in Cyprus, which costs around 1,500€. And the annual fees for tax advice are around 600€. However, social security contributions do not apply in this model.

Exclusive Properties in Cyprus

Being a full member of the EU and offering a quick, easy, and cheap (in comparison) citizenship and residency program, is an additional plus point for Cyprus. This attracts investors and people seeking dual citizenship or residency in an EU country and with this access to the European Union and Schengen area. Cyprus citizenship is available with an investment of 2.15 million Euros plus VAT in one or several real estate properties. This provides a Cyprus passport and the freedom to work, travel, study and live anywhere in the EU.

In comparison, the Cyprus Permanent Residency Permit (PRP), which is also known as the fast-track model or Cyprus Golden Visa, gets you a permanent residency in Cyprus within two months. A minimum amount of 300,000 Euros plus VAT is required as real estate investment in one or several properties, as well as an application fee. With the PRP you are not allowed to work in Cyprus, but you can be the owner of a Cypriot business and receive dividends from it.

As a result, the Cyprus property market has adapted to this demand of foreign investors for high-end properties, which serve as a luxurious home and investments for Cyprus citizenship and residency.

Exclusive Properties Cyprus

The Cyprus real estate market is rich with affordable options, which are often chosen by locals, and more expensive homes targeted towards HNWI investors, business people, residents and retirees from around the world.

New construction projects and large scale investment projects are seen throughout the island. Noteworthy are the Aristo Eagle Pine Golf Resort in Limassol, the Athena Medical Centre in Nicosia, the First Electric Ltd in Larnaca, the Coral Bay Integrated Resort in Paphos, and the EcoCity Project in Famagusta. Other investment projects like theme parks, bridges, and monuments are also in the making.

Real estate agents are professionals who can assist you with finding and purchasing a property. Professional estimators and businessmen (businesswomen) can save you time and money, but charge up to 10% for their services. Alternatively, you can find suitable properties on platforms like My Kypros Home, where we offer a wide selection of high-end investment properties, stunning houses, and beautiful apartments for all your needs, as well as many practical services around living on the island of Cyprus. The advantage is that this is free for you, as we receive a small marketing fee from our partners.

1. Larnaca

Discover the southern coast of Cyprus and its famous seafront promenades Mackenzie and Finikoudes. One of the two international airports of Cyprus is located in Larnaca. And many expats choose Larnaca as their home base, as many international companies are located in this district.

Property Highlights

Next, let’s take a look at Paphos, which is famous for its historic sites and awesome coastlines.

2. Paphos

Paphos in the South-West of Cyprus is known as the unofficial capital of the Cyprus expat community. The unparalleled nature, vibrant history, and manyfold business opportunities make this district so attractive. Besides, one of the best hospitals on the island is located in Paphos.

Property Highlights

Exclusive Properties

Now, let’s move to Limassol, where you find unique shorelines and the most developed and modern city on the island with an impressive Marina.

3. Limassol

Limassol is centrally located, just a 45-minute drive away from both Paphos and Larnaca. Many Foreign Exchange Market (Forex)-related businesses, a large Russian population, and stores open all year round make this district special.

Property Highlights

Next up is Famagusta, which was one of the most popular tourist and entertainment destinations for the rich and famous in the 1970ies.

4. Famagusta

Famagusta district is home to Cape Greko, a protected nature park and hallmark of Cyprus. Famagusta city is rich in culture and history with many famous sights. The main economic sectors in this district are tourism thanks to the best beaches on the island, education, construction, and industrial production.

Property Highlights

Finally, it’s time to discover Nicosia, the divided capital city in the center of the island.

5. Nicosia

Many shopping opportunities, two large malls, the best schools, and universities, as well as the most modern hospitals on the island, await you in Nicosia. Moreover, there are only a few tourists – something which people seeking an authentic experience may value.

Property Highlights

This sums up our introduction to Cyprus properties, the districts, and the benefits of living on this island.

The Takeaway

Buying property in Cyprus for citizenship in an EU country is a popular method for foreigners from around the world. As is the Cyprus permanent residency program. You now have an overview of the island of Cyprus and the highlights of each district, as well as how to proceed when securing exclusive properties in Cyprus for investment. Get ready to invest and to live in Cyprus now!

Real estate decisions should be thoroughly considered, in particular, because there are often large amounts of money involved. My Kypros Home is your partner to find the best solutions for moving to Cyprus, rehoming and real estate investment. Whether you are looking for apartments or houses for sale in Cyprus to live in or as an investment – we are excited to share with you our experience, so you can enjoy your new Cyprus residency.

Disclaimer: My Kypros Home acts as an online platform, which displays listings from third-party licensed developers, real estate agents or agencies. The advantage for you: no added agency fees, as My Kypros Home receives a marketing fee from its partners.

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