Your warehouse, hotel and office in Cyprus without the hassle
The concept of "commercial real estate" includes a wide range of objects: in Cyprus you can buy production and storage space, a spa salon, a shop, a cafe - anything, even a yacht club. There is a practice of selling a business on a turnkey basis with a fully furnished office, the necessary equipment and a license for specific activities. This saves a businessman from a lot of tedious bureaucratic procedures and allows him to go, as they say, straight to the point. Especially interesting for investment are multifunctional properties combining residential and commercial areas: leading Cypriot developers are implementing similar projects in different parts of the island, and they are in great demand.
Commercial real estate is sold almost anywhere in Cyprus, but the absolute favorites in terms of the number and variety of offers are Limassol (the largest port city and business center of the island), Larnaca (port and industrial region), Paphos (a prestigious resort) and Nicosia (the capital of Cyprus) ... Developing tourism centers, such as the city of Polis, are especially attractive: the cost and profitability of commercial space in such areas is growing every year. A well-calculated purchase in a business quarter under construction will be a good investment.
Commercial real estate in Cyprus: from foundation pit to finished office
Commercial real estate office in CyprusCommercial real estate in Cyprus, like residential real estate, can be purchased at different stages of construction:
- Objects with approved construction plans;
- Objects at the initial stages of construction;
- Offices in Cyprus at the stage of finishing and finished objects;
- Turnkey commercial property (fully finished and equipped).
By purchasing an object under construction, you can save 25-30% or more of the cost of the finished premises - but this option requires the investor to actively participate personally, calculate profitability and risks, inevitable costs for paperwork and legal support. Many people prefer the option of a ready-made business or franchising, since the Cypriot market has already stabilized after the crisis "storms" and guarantees the safety of investments and profitability - not the highest in Europe, but stable. Given the fact that there is not too much land on the island, urban planning restrictions are quite tough, and investor interest is growing, a sharp drop in demand - both for residential and commercial real estate in Cyprus - is not expected in the coming years.
The island's government is interested in capital inflows and has been supporting and developing a policy of favoring foreign business for many years. There is no double taxation between Russia and Cyprus, and tax rates on the island are among the lowest in Europe.
Business in Cyprus is also attractive because when buying real estate worth at least 300 thousand euros, a foreign resident receives a residence permit for himself and his family (spouse, children, parents), and if he has invested more than 2 million euros, then six months later the foreign resident and his family become citizens of Cyprus (and, accordingly, the European Union).
Judging by statistics, our compatriots actively use this privilege: they own about 40% of all passports issued by the government of Cyprus to foreigners, in second place are Ukrainian citizens. This trend has remained unchanged for many years, which means that business on the island remains attractive to Russians, despite the crises.
