|
About Cyprus
Cyprus, is the
3rd largest Mediterranean island - covering 9,251 square kilometers,
240 km from west to east and 96 km from north to south - with a
population of approximately 700,000. Being at the cross-roads of three
continents - Europe, Asia and Africa - it has one of the oldest
histories of the world, dating back 9000 years. Its strategic
position, its wealth in forests and mineral deposits, as well as its
skilled craftsmen, made it the prized possession of the powers of the
day. Cultural influences came from all directions - all major regional
civilizations left their mark on the island, contributing to the
development of a very rich and diverse cultural heritage.
COMMUNICATIONS -
The island is
served by approximately 30 major airlines, linking it to the four
corners of the world through its international airports at Larnaca and
Paphos. Driving is on the left in Cyprus and distances between towns
are relatively short, covered by a good network of modern roads.
Cyprus telecommunications are among the best in the world - an
important factor in establishing the island as an offshore business
centre.
Flight Times to Cyprus
|
City |
Time |
City |
Time |
|
London |
4:30 |
Belgrade |
2:30 |
|
Dublin |
5:00 |
Copenhagen |
4:20 |
|
Amsterdam |
4:00 |
Bahrain |
3:00 |
|
Rome |
2:45 |
Luxemburg |
3:45 |
|
Paris |
4:00 |
New York |
11:00 |
|
Madrid |
4:00 |
Lisbon |
4:45 |
|
Berlin |
3:45 |
Cairo |
1:15 |
|
Athens |
1:40 |
Helsinki |
3:30 |
|
Vienna |
3:00 |
Zurich |
3:30 |
|
Moscow |
4:30 |
Stockholm |
4:00 |
|
Brussels |
4:00 |
Amman |
1:20 |
CLIMATE - Excellent weather with more than 340 days of sunshine
|
Town |
Winter |
Summer |
| Nicosia |
7-16 C / 44-61 F |
24-39 C / 76-102 F |
| Limassol |
9-18 C / 48-64 F |
23-34 C / 73-93 F |
| Larnaca |
7-17 C / 45-62 F |
23-33 C / 73-92 F |
| Famagusta |
7-17 C / 45-62 F |
21-30 C / 72-90 F |
| Paphos |
8-17 C / 46-62 F |
21-29 C / 69-86 F |
| Mountains |
1-7 C / 34-44 F |
20-29 C / 67-84 F |
GOVERNMENT -
Cyprus is an
independent sovereign republic with a presidential system of
government. Its fully democratic system retains the respect of
individual rights and encourages private initiative.
COST OF LIVING -
The relatively
low cost of living in Cyprus has an added appeal for the potential
buyer, offering a full, but comparatively inexpensive lifestyle.
CRIME RATE
- Cyprus enjoys a remarkably low crime rate,1/6 of the European
average.
BANKING -
Banking
practice, the range of services offered and the methods of management
and control closely follow the British pattern.
EDUCATION -
There are
both junior and secondary schools of a high standard catering for
English, French and Italian speaking pupils.
LANGUAGE -
Greek is the
mother tongue of the Republic, however English is readily spoken and
understood almost everywhere.
PETS -
Cats and dogs
are permitted to be brought into Cyprus provided a licence has been
obtained in advance.
Cyprus Major Cities
Nicosia
Cyprus (around 200,000 population) -
Nicosia lies at the center of Cyprus, no
more than one and a half hours from any mountain or coastal resort. As
the administrative center and the seat of Government, the city is
dotted with the various ministries and diplomatic missions. Over the
last decade, the capital has experienced impressive progress, as
Cyprus approaches accession to Europe.
Sophisticated facilities,
professional services, regular trade fairs and exhibitions
have made Nicosia a favorable canter for both local as well as
offshore businesses. Alongside its importance as a commercial
center, the city boasts a number of sights and events of
cultural as well as historical interest. Overall, Nicosia is
known for its successful union of business and pleasure, of
the functional and the beautiful. It is unmistakably the
cosmopolitan capital of our island.
Limassol
Cyprus (around 160,000 population) -
Limassol, on the south coast of Cyprus, is
the country's second largest city. It lies between the sites of two
important historic city kingdoms that dominated the island in
antiquity: Amathus to the east and Curium a few miles to the west.
Both have yielded some of the most remarkable archaeological finds in
the eastern Mediterranean.
With its modern Cyprus
properties, villas, apartments, shops and restaurants, high standard
of medical services and reputable schools, Limassol offers its
visitors and residents a high standard of living. And there's no
shortage of culture in this south coast town with its museums,
castles, theaters and galleries. Within easy reach are some of the
island's most celebrated historical monuments.
Larnaca Cyprus
(around 70,000 population)
- The
graceful row of majestic palms lining Larnaca’s seafront are a
reminder of the 17th century, when Larnaca was the diplomatic and
trading capital of Cyprus. But Larnaca sits on foundations of great
antiquity. It was once an important city-kingdom known as Kition,
allegedly founded by Noah’s son Khittim who is mentioned in the Bible.
Nowadays Larnaca is a thriving modern
seaside town with excellent Cyprus property, villa, apartment,
shops and
restaurants, several museums, a large harbour, a cosmopolitan
yacht marina with 200 berths and a number of luxury hotels on
the golden sands stretching away to the east. It is also the
home of the island’s main international airport. Larnaca
Cyprus is standing on the shore of a nearby tranquil salt lake
is one of the world’s most historic mosque, while the lake
itself - home to tens of thousands of migrating birds every
year - is a bird lover's paradise. Also within the area is one
of the finest Byzantine mosaics in the eastern Mediterranean.
Paphos /
Pafos Cyprus
(around 45,000 population)
-
The mild, healthy climate and beautiful countryside surrounding this
south-western coastal town have attracted visitors to Paphos throughout
history. Legend has it that the Goddess Aphrodite was born in
its warm, translucent waters.
Over the centuries, countless
civilizations have left their mark, rendering Paphos as a veritable
treasure trove of antiquity, much of it still to be unearthed.
The special colors of the Pafos
landscape, lush scenery and a magical coastline give the area a unique
charm of its own. Admirably suitable for sports, recreation and relaxing
lifestyle, the west coast enjoys long summers, mild winters and
sensational beauty in springtime. In addition to the wealth of historical
interest in and around Paphos itself, the unspoiled Akamas peninsula
provides endless opportunities for swimming, boating, walking, observing
bird and wildlife.
Furthermore, one can
experience the complete contrast of majestic cedars in the mountains, or
visit impressive hillside monasteries and painted churches.
Legal issues & Costs
related to buying property in Cyprus
BUYING
PROPERTY IN CYPRUS
- Compared
to many countries, the logistics of property purchase in Cyprus by
foreigners are relatively simple & easy.
ACQUIRING THE
TITLE DEED
- Transfer of ownership from vendor to purchaser is accomplished by a
simple procedure through the Cyprus Land Registry Office, either by
the buyer in person or by appointed third party with a Power of
Attorney.
TAXES & FEES
- The transfer of title can be effected once the Council of Ministers'
permission is obtained and the Central Bank of Cyprus confirms receipt
of the foreign funds. Upon transfer of the property and registration
in the purchaser’s
name, the District Land Registry Office will charge Transfer Fees,
which are based on the market value of the property at the time of
purchase, and are calculated as follows:
|
Value up
to |
- €85.430 |
3%
|
|
€85.431 |
-
€170.860 |
5%
|
|
€170.861 |
- and
over |
8%
|
IMMOVABLE
PROPERTY TAX, SERVICES TAX
- The annual immovable property ownership tax imposed by the
government is approximately CYŁ60-120 per year, depending on the value
of the property.
CAPITAL GAINS TAX - Property sales in Cyprus are subject to
Capital Gains Tax at the rate of 20% on the gain, however the first
€10,000 are tax-exempt.
INHERITANCE TAX - Inheritance tax is not imposed.
LEGAL SAFEGUARDS FOR FOREIGN INVESTORS - Contrary to the risks
inherent in the purchase of property in some countries, Cyprus has
never been involved in the nationalization of any sector of the
economy, nor in the expropriation of property owned by foreigners.
TAX PRIVILEGES - Personal effects, household goods, furniture &
cars can be imported duty free by immigrant retirees.
FINANCING FACILITIES
- C4P offers various long term payment schemes to assist its
purchasers. In addition C4P may assist you to obtain from a Commercial
Bank in Cyprus a housing loan at favorable conditions.
|
