The beautiful Mediterranean nation of Cyprus has become a globally renowned place to live, thanks to its favorable tax system, pleasant lifestyle, comfortable living environment, and extremely low crime rate. Coupled with a strong economic recovery, a booming tourism industry, and the steady and orderly development of the real estate sector, more and more international investors are setting their sights on Cyprus to purchase property or pursue immigration through property investment.
Cyprus Residential Property Prices Recorded Annual Growth in Q1 2017
According to statistics from the Central Bank of Cyprus (CBC), the country's residential property prices recorded their first annual growth in seven years.
The Central Bank of Cyprus (CBC) stated that the residential property price index (house and apartment price index) recorded growth for the third consecutive quarter in the first quarter of 2017 (a quarter-on-quarter increase of 0.3%).
The Central Bank pointed out that, as indicated by other relevant indicators, the sustained quarterly growth confirms that the Cypriot real estate sector is recovering at a steady pace. The decline in the unemployment rate and increased confidence are important factors supporting the rise in property prices in Cyprus.
2017 to Become a Milestone for the Cypriot Tourism Industry
Compared to the same period in 2016, tourism revenue in Cyprus increased by 15.3% in June 2017, with a cumulative growth of nearly 20% in the first six months. Meanwhile, statistics to date this year show that passenger numbers at Larnaca and Paphos airports have soared to 5.5 million. It is estimated that by the end of 2017, passenger traffic in Cyprus will exceed 10 million.
In addition, in terms of asset allocation, the Cyprus passport is an essential overseas identity for wealthy individuals to manage their wealth. The corporate income tax in Cyprus is only 12.5%, the lowest among European countries. It has also signed double taxation avoidance agreements with more than 50 countries, including China. There is no property tax, no inheritance tax, and no overseas taxation.
Furthermore, holding a Cyprus passport allows for investment and financial management within the European Union. As an EU citizen, one can invest assets in the best-performing EU economies to achieve wealth preservation and appreciation.
The Cypriot real estate industry is gradually recovering, the tourism industry is exceptionally active, and the Cyprus passport offers unique advantages. For investors interested in Europe, they should seize the current period of relaxed policies and apply early. Do not miss the best investment opportunity!
Cyprus Passport Application Requirements:
1. The main applicant must be at least 18 years old;
2. No criminal record;
3. Purchase one or more properties in Cyprus totaling 2 million euros (can be sold after three years, with only 500,000 euros worth of residential property required to be retained).
The investor, their spouse, and financially dependent children under 28 years old can obtain citizenship. If the main applicant's parents purchase an additional residential property worth 500,000 euros, they can also apply for citizenship and become EU citizens.
For more information about the program, please call 400-138-2929 to contact WorldWay and consult with our professionals.