Real Estate Investor Magazine South Africa February/March 2019 | Page 54

CYPRUS
9 reasons to own a property in Cyprus
BY JENNY ELLINAS
O
wning an offshore property and realising a Plan B
is a dream than many South Africans would love to
achieve. The choice of where to invest can be intim-
idating; and the financial, legal and tax implications coupled
with language & cultural barriers sometimes makes even
thinking about a Plan B a non-starter.
Europe remains being the preferred geographic location for
the majority of South Africans as not only it is the world’s
largest trading block, but the opportunities are enticing. There
is positive economic growth, decreasing unemployment rates,
centralised location globally and on-going political stability
– all of which has cemented Europe as being a very safe
destination for our hard-earned ZAR.
Cyprus, an English-speaking, ex-British colony and full
European Union (EU) member, is an extremely popular
destination in Europe for South Africans to invest.
Here are the 9 reasons why South Africans
are buying property in Cyprus:
1. Cyprus has been voted one of the safest countries in the
world – your personal safety is assured.
2. Cyprus is a full member of the EU, economically stable
and politically secure so the country is not flooded with
refugees.
3. Being an ex-British colony (Cyprus is not part of Greece),
there is no language barrier as everyone speaks English.
4. You can acquire permanent residency or EU 2nd
citizenship by buying property:
5. Properties in Cyprus offer excellent value for money when
compared to other European countries – especially homes
right on or near to The Med. The lush & beautiful Western
side of the country is similar to the Western Cape and
enjoys the biggest demand and highest growth.
6. Cyprus is a very popular tourist destination so owning
an investment property will reap an attractive offshore
income.
7. There is no inheritance tax, so you can implement effective
tax planning.
8. The lifestyle on offer in Europe is similar to South Africa:
golf courses, breath-taking countryside, modern cities etc.
9. There are no social problems in Cyprus: no car guards,
shanty towns or people living below the poverty line; and
because of this Cyprus has huge appeal as a destination
for relocation, retirement, holiday-making and investment
Acquiring permanent residency in Cyprus is very attractive
because it gives 3 generations in the same direct family line
the legal right to live in Cyprus without having to go through
onerous immigration processes should they wish to make a
permanent move. All dependent children up to age 25, plus
both the parents and the parents-in-law qualify for residency
on the same property purchase under the main investor. The
property can be used as an investment tool to earn a Euro-
based income; and there is no need to live in Cyprus for the
residency permits to remain valid. No other programme in
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FEBRUARY/MARCH 2019 SA Real Estate Investor Magazine
Europe offers this!
Unlimited access to the EU & the UK is where Cyprus’ 2nd
citizenship programme excels. All dependent children up to
age 28 plus the parents of the investor qualify. Chief benefits
include travelling, living, working & studying anywhere in the
European Economic Area; plus visa-free travel to more than
169 countries in the world. In Cyprus your investment is not a
donation to the government but an investment that will enjoy
capital appreciation, rental income and low tax implications.
Some attractions that Cyprus offers are:
• Euro-accredited education gives your children a distinct
advantage when they enter the global job market;
• As an ex-British colony, there is no language barrier –
everyone speaks English and all your documentation is in
English. No need for a translator!
• The discovery of natural gas is already having a positive
impact on foreign investment and infrastructural
development;
• Low cost but high standard of living;
• Europe on your doorstep gives ease of travel to other EU
countries
• Cyprus has 2 International Airports and several marinas
• 1st world medical facilities & affordable healthcare with
highly qualified doctors & specialists.
An astute offshore property investment that works for you
in the short, medium and long term is the achievement of a
lifetime. In Cyprus investing in the “Citizenship through
Investment” or the “Fast Track residency programme” will reap
financial rewards and lifelong benefits. Can you afford not to
take advantage of this while both programmes are still open?
Savvy investors should ensure they take the time to
make the right decision to secure their Plan B especially
with some counties offering the chance to secure relatively
easy permanent residency status or a 2nd passport. You are
advised to closely evaluate each programme to understand
the minimum investment amounts, the pre-requisites and of
course all of the upfront and on-going costs.
Your approach to your investment decision will be
determined on how clear you are on the reason you want a
Plan B in Europe. Is the driver to acquire residency or a 2nd
citizenship, to relocate or to have an investment property to
leave a legacy for the children and grand children?
Cypriot Realty is a pioneer in actively and consistently
promoting property opportunities primarily in Cyprus.
They have succesfull been doing this from their Cape Town
and Sandton offices since 2008. As a result, the company is
recognised and respected as Southern Africa’s authoriatative
investment specialist for promoting Cyprus as an ideal
desitnation for acquiring permanent residency/citizenship,
property investment, immigration/retirement and starting a
European-based business.
SOURCE www.cypriotrealty.com