Why Cyprus

Cyprus is a great place for you to really enjoy life. The island has a natural beauty, nice beaches and sunshine 340 days a year. The average temperature is between 16 degrees in January to 32 C in July.

Being an island in the cross roads of Europe, Middle East and Africa, people have developed a culture of openness and acceptance of overseas cultures and visitors. The native language is Greek but English is widely spoken.

Cyprus is an ideal place for purchasing prop- erty. Island's geographic position, which is at the crossroads of Europe, Asia and Africa, has played a key role in its attractiveness. Low cost of living in combination with a pleasant way of life, low taxation rate, modern and efficient legal, accounting and banking services, full protection for financiers and mortgages and the excellent telecommunication system, are  important reasons to choose Cyprus.

Property Ownership

The process of purchasing property in Cyprus by foreigners is very simple.

Non Europeans are entitled to a freehold ownership of a villa, an apartment or a piece of land, with maximum allowed extend of 4014 sq.meters (four thousand and fourteen square meters).

Europeans are entitled to a freehold ownership of a villa or an apartment. The above restriction, in respect of Europeans, will hopefully soon be abolished because Cyprus entered the EU. It is very possible that such a change in the legal system will increase demand of real estate sharply with the related reflection on property prices. In respect of plots of land, Europeans can purchase as many and for any extent. This was one of the changes which took place because of the entry of Cyprus to the EU.

Foreign companies can acquire premises for their business or for holiday home for their directors.

Europeans who acquire permanent or temporary permit can register in their name as many properties as they want provided that they sign a confirmation to the government that they will stay for the following five years in Cyprus.