The Republic of Cyprus attracts foreign investors with an abundance of opportunities for profitable investment. The local tax policy is characterized by loyal laws and interest rates. The local government has put a lot of energy to attract foreign investors securing Cyprus the 13th place in the list of countries with optimized business environment. If you decide to invest in the local economy to get the maximum benefit, we offer you to check the best investment projects in Cyprus, as well as their advantages and disadvantages.
Investment options in Cyprus
Science and Technology Park
Purchase of real estate in Cyprus and foreign exchange transactions remain undisputed leaders among the various ways to make profitable investment. However, many investors prefer to invest in innovation.
The largest science and technology park was built in the Republic in 2016. It offers a wide variety of investment projects related to different areas of scientific activity. You can invest both in the latest developments and in the construction of the park itself, assuming a design bureau, business incubators, and premises for applied research. When choosing the best investment projects in this field, wealthy foreigners receive impressive bonuses from the government of Cyprus. These include benefits to obtain patents, purchase shares in innovative start-ups, get advance employment and tax benefits.
Privatization of state enterprises
The best investment projects in Cyprus include the commercialization of the Limassol Port and the privatization of CYTA, the telecommunications service provider. There are also many other offers for wealthy foreigners and businessmen.
Bank deposits and investment
The economic recovery has not been completed. The credit system of Cyprus is yet to be adjusted offering potential investors interesting opportunities. If we consider bank deposits, the prospect of earning income is very vague. Financial institutions have previously offered small rates that range from 0.2-0.8% per annum, and the situation has only worsened after the impact of the coronavirus pandemic.
Purchase of real estate
The best investment projects in Cyprus are traditionally concentrated in the construction industry. Direct investment in real estate is in high demand. The majority of projects are implemented for the tourism industry. However, there are significant projects for residential and commercial real estate in Cyprus. The return on investment varies between 4-6% per annum.
When choosing this investment option, it is worth remembering some of the associated difficulties. The choice of a reliable lessee and additional expenses to maintain the proper technical condition may be challenging. Though, if you decide to buy real estate in Cyprus and entrust its lease and management to the team of experts, the risks of financial losses and unforeseen obstacles will be minimized.
Asset protection as investor top priority
One of the most efficient ways to secure your investment is to obtain Cyprus citizenship. You can apply for a local passport by naturalization, which takes 7 years, or by investing EUR 2,000,000 or more. When choosing the best investment projects in Cyprus, you and your family members can obtain local citizenship in 6 months. No history and language exams, as well as permanent residence in the Republic, are required. Cyprus citizenship requires no renewal and is not subject to disclosure. Having bank accounts or a business in the Republic, you can count on the confidentiality regarding your assets. The Cyprus passport allows you to live and work in the EU, as well as travel visa-free to 120 countries that are part of the Schengen Area.
To obtain citizenship, you need to invest at least EUR 2,000,000 in one of the following categories.
- Purchasing real estate in Cyprus*.
- Opening or purchasing a business.
- Investing in alternative investment funds.
- Purchasing bonds and other securities.
*Cyprus has suspended its citizenship-by-investment program, in its current form, effective from 1 November 2020.
If you invest in a business, you shall buy real estate in Cyprus worth at least EUR 500,000,000 to obtain citizenship. It is not applied to cases of investing in luxury housing.
Best projects for real estate investment
If you decide to invest in housing, you can consider buying a penthouse, house, or villa. Real estate in Cyprus by the sea will bring income via lease and subsequent resale. You can also use it for a comfortable stay or family vacations.
This gated residential complex, located in Limassol, can rightly be called the best investment project in Cyprus. This is proved by the European experts, as well as International Property Award in the Best Development Cyprus category.
Location is the main advantage of Aurora Residences. The complex, which includes 12 townhouses, 2 luxury villas, and 1 two-storey apartment, is within walking distance of popular five-star hotels and a sandy beach.
If you would like to invest in commercial real estate, this ultra-modern business complex can become the best investment project in Cyprus. Nereus Tower is located on the main tourist promenade of the resort city of Limassol. This provides offices and the adjacent 8 apartments of Nereus Residences with stunning panoramic views, as well as direct access to the beach. The layout of commercial premises provides opportunities to arrange open space working area. This is a unique solution that is not available in other commercial real estate in Cyprus.
The unique gated complex offers everything you need for a comfortable family holiday. Venera includes 7 villas with a ground floor and a roof terrace, as well as a block with 12 apartments with 2 and 3 bedrooms. This complex can be called the best investment project in Cyprus since it is one of the few that provides easy access to the tourist area of Limassol and the proximity of the beach.
Real estate in Cyprus with maximum benefit
To successfully invest in one of the best investment projects, contact P.L. Property Gallery Developers & Constructors Ltd. It is the biggest construction company in Cyprus offering a wide range of houses, villas, cottages, townhouses and apartments in Limassol and other popular cities. The company has been building and selling real estate for more than 18 years, and its projects have received awards in international competitions.
P.L. Property Gallery Developers & Constructors Ltd. offers a whole range of related services to provide the investor with the most convenient terms of cooperation.
- Selecting real estate in Cyprus.
- Turnkey construction.
- Leasing real estate in Cyprus.
- Assistance in sale of apartments and houses.
- Managing real estate in Cyprus.
- Landscaping and gardening, interior design.
Experts from P.L. Property Gallery Developers & Constructors Ltd. will not only find the best solution to meet your needs, but will also undertake to maintain the proper technical condition of the purchased real estate while you are away. The company can also lease residential and commercial premises.