About Cyprus

Cyprus, the third largest island in the Mediterranean, is situated in the eastern end of the Mediterranean, is a land of truly magnificent natural beauty and rich culture. Enjoying hot summers and mild winters, Cyprus has been for decades an established tourist destination. Small as it may be, Cyprus is indeed the island for all seasons. Sandy beaches that go on for miles and crystal clear water forms the majority of the coastline of Cyprus. Colorful plantations and rare wildlife find refuge in the Akamas forest. One can ski on the snowy slopes of Troodos mountains, and during the same day swim in the crystal clear Pafos beaches. The 8000 year history of Cyprus is quite evident in ancient fortresses, castles, Tombs and Mosaics. Plenty for the cultured to study and admire.

Such is the nature of Cyprus. It has something for everybody, small distances, perfect climate and most importantly, welcoming people.

All the above are enhanced by the good infrastructure, membership to the EU and the development plans for Cyprus. It is not by chance that so many foreigners have chosen Cyprus for their retirement, permanent home, property investment or holiday home.

 

Paphos, your home your investment

The birthplace of Aphrodite, and ancient capital of Cyprus, Pafos has rich heritage and culture. Aphrodite, the Goddess of Love chooses Pafos to be her home as she found the beauty of the area to be unmatched.

Located on the South-West of the island, it is arguable that Pafos has the best climate all year round. Heat does not reach intolerable levels and winters are milder and shorter than other regions. It has been traditionally popular with families and older people, making it a year round tourist destination, unlike other places in Cyprus.

There are many ways for you to enjoy the way of life in Pafos: Take pleasure in a day of shopping in the traditional market in the old town where you will be amazed at the abundance of shops of all sizes selling all sorts of local products. Take a walk along one of the many sandy or pebble beaches and admire the breathtaking crystal-clear blue waters of the Mediterranean. Visit Tombs of the Kings, St. Pauls Pillar, the Mosaics or one of the numerous archaeological and cultural sites. Spend a day in the beautiful and unspoiled Akamas National Park, and live the splendor of Cyprus wildlife and plantations close-up.

Despite its increasing demand, Pafos is being developed at a reasonable pace. The prospects of Pafos as a region in its entirety are now fully recognised, with big changes on the way. Pafos is already home to three golf courses, luxury international hotel chains and hosts operations of multinational corporations. A new airport and a Marina are in the pipeline, which will give an even more upgraded feeling to Pafos. EU Membership and all the associated benefits have and will continue to play an important role to the Pafos district.

In addition to the above, one must always consider the lower cost of living, taxation advantages, the short distance from major European destinations. It is easy to see that there is no better time to invest.

 

Reasons to Invest in Pafos

  • Eu Member since the 1st of April 2004.
  • Euro Currency from 2008.
  • Excellent level of private and public education.
  • No employment permits required from EU citizens.
  • Easy access from UK, Europe and all major destinations with over 40 main airlines servicing Pafos and Larnaca international airports.
  • Low crime rate:  1/6 of the UK.
  • Low cost of living, around half of the average European.
  • Low priced, accessible and advanced health services both private and public.
  • Driving on the left with all road signs in English.
  • Banking, legal and accounting systems based on British principles.
  • No inheritance tax.
  • No capital gains tax on Euro 17,086 (CYP 10,000) profit.
  • Thriving property market, capital appreciation of around 15% per year for the last 5 years with indications of increase.

A Less Taxing Life

Apart from the year long sunshine, the hospitality of Cypriot people, history that extends thousands of years and the healthier life of the Mediterranean diet, Cyprus is amongst the EU countries with the lowest taxation levels. Residency status can be achieved if you live on the island for six or more months of the year, and with minimum paperwork. Some of the benefits include:

5% on investment and pension income
Tax free capital
No Estate Duty on property owned overseas
0% Inheritance tax
20% Capital Gains Tax*

*with the first EURO 17,086 (CYP 10,000) exempt, and with ownership of five years or more the
exemption becomes EURO 85,430 (CYP 50,000).