Estate Living Magazine #liveyourbestlife - Issue 46 December 2019 | Page 62

L I v E
S M A R T
INVEST IN PROPERTY IN
CYPRUS
Buy direct from the developer and save thousands on your property investment
in Cyprus (member of the European Union)
Many South Africans are looking to invest in overseas properties, with
most of them seeking a Plan B as well as an investment opportunity.
The island of Cyprus is definitely an option, largely due to the
plentiful advantages this European country has over other property
destinations: a thriving real estate industry, favourable tax system, fast
and efficient immigration programmes through property investment,
safety and strategic geographic location, and much more.
As one of the safest countries in the European Union, and one of the
best countries to relocate globally, Cyprus is an attractive place to
do business and a unique place to reside. Real estate in Cyprus has
proven increasingly popular to foreign investors for many reasons,
which include:
• Unique strategic location
• Enviable Mediterranean lifestyle
• Exellent infrastructure and first-rate tourism infrastructure
• High standards of healthcare and education
• Modern airports with connections to all major destinations
In the area of property taxation, Cyprus has a simple and transparent
tax system with multiple exemptions for both corporates and
individuals. Benefits include:
• Zero property tax
• 5% reduced VAT policy on first property purchase (standard VAT
rate 19%)
• Zero inheritance tax
• Low capital gains tax (12.5%)
• Non-domicile tax incentive
Aristo Developers has been the preferred property developer in
Cyprus, recognised for its high-level, quality product by a plethora of
local and international organisations, and is one of the few property
developers on the island of Cyprus to offer the widest range of
freehold properties at the most exclusive locations. The group’s
diverse range of product, which includes apartments, townhouses,
plots, luxury villas, golf properties and beachfront residences, is
suitable for every taste and budget.
As a key partner in establishing Cyprus as a world-class investment
destination, Aristo Developers has been a popular choice among
foreign investors seeking Cyprus citizenship or permanent residency
through property investment.
Cyprus permanent residency
• Issued within two months
• Minimum property investment: €300,000 + VAT
• Covers the whole family including dependants (up to the age of
25) and parents of both the main applicant and spouse