CYPRUS
BY JENNY ELLINAS
Solid Strategy For Future
7 Reasons Why South Africans Are Doing It
T
he decision to purchase an offshore property
is a major one. However, a property asset in
another country is a significant achievement
which can secure your future and also become an
investment in the future of the next generations: for
your children and their children.
Investing in property is a solid strategy for the
future. Historical trends prove that, over the longterm, a property investment outperforms all other
types of investment, as it is a tangible asset that
increases in value over time.
With the volatile Rand, there is never an ideal time
to consider taking your funds offshore to invest in
an Euro-based economy, however, there are many
reasons why South Africans are choosing to invest
in Cyprus now.
1. Bright outlook
Cyprus has recovered from the harsh Troika “bail-in”
of 2013 and is fuelling international optimism for and
investment in its long-term prospects and growth.
The discovery of natural gas in Cyprus’ Exclusive
Economic Zone (EEZ) will see Cyprus become
the hub for natural gas and energy in the Eastern
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Offshore Handbook 2014
Mediterranean within a few short years. This will
result in a very different economic landscape in
Cyprus in the immediate future.
Between May 2013 and December 2013, property
in Cyprus worth more than €500 million (half a
billion euros!) were sold to expats, mainly due to the
very attractive permanent residency and citizenship
options available. Industry experts predict things
will be even better in 2014, if last year’s trend is
anything to go by.
World-class developments such as the new
Marina in Limassol, which has been compared to
the Marina Grande in Capri and the Dubai Marina
and has been rated as the “most luxurious Marina
in the wider Mediterranean”, are also attracting
international jetsetters.
2. Get an EU passport, fast
With Cyprus’ “Citizenship through Investment”
programme, investors can obtain an EU passport
within two to three months. This is currently the
quickest way for the entire family, including adult
dependents up to the age of 28, to get a Cypriot
passport, which provides unlimited access to Europe
and the EU for life. This means you and your whole
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