Without a doubt Cyprus is becoming a chic and highly sought after country in which to own property. The Government’s plans for future growth will potentially change the whole ambiance of the island in the next few years making it excellent opportunity for investment. Geographically the island’s location makes is superb for businessmen needing to reach all parts of the world. Financially the prospect is for a very fine future, as many of the people involved in the market support.
One of the benefits is the advantageous fiscal regime, as the taxation of company profits is only 15 %.
Cyprus competitive advantages occurred from its strategic geographical location, favorable business climate, stable macroeconomic environment, fiscal regime, high educational level of the labour force, modern financing, banking and legal systems, excellent infrastructure with advanced transport and telecommunications network and a widespread knowledge of English.
Cyprus has successfully integrated, and its accession to the European Union has not resulted to any difficulties. Harmonization with the EU’s was thoroughly planned and supported by proper policies. In particular, Cyprus has undertaken considerable economic and structural reforms that have changed its economic landscape. Cyprus has eliminated tariffs and quantitative restrictions for all local and EU manufactured goods and agricultural products.
Cyprus has a successful economic performance, reflected in fast growth, full employment conditions, external and internal stability. In terms of per capita income, Cyprus is among the high-income economies (World Bank classification).
Cyprus property market is following an upward trend, with demand still increasing despite a slight downturn which was market during 2009. With the World Economy forming a steady recovery, Cyprus Property market is experiencing a stronger and stronger demand.
The Government plans changes in Tourism Sector as well. All the facilities and resorts will be improved accordingly with changes in tourism trends.
This will be realized via increase of tourist arrivals, per capita tourist expenditure, duration of stay and repeated visits. We will see the growth of theme parks, agrotourism holidays, marinas and golf courses to satisfy the interests of today’s tourists.
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