Real Estate Investor Magazine South Africa December/ January 2018/2019 | Page 55

EUROPEAN CITIZENSHIP
is Ayia Napa Marina on the south eastern coast, which offers
buyers luxurious residences, world-class yachting facilities
including a 600-berth superyacht marina, spa and wellness
centres, beach and yacht clubs, swimming pools, gardens,
child care, retail boutiques, waterfront fine dining options,
spectacular beaches and recreational experiences. The 190
spacious, deluxe apartments in the two ‘twisted’ towers are
priced from EUR795  000, while 29 luxury villas are selling
from EUR4.6 million
Says Immelman: “Setting a new benchmark in luxury marina
developments, this iconic seafront project is backed by Cypriot
entrepreneur Gerasimos Caramondanis and Egyptian investor
Naguib Sawiris – the 400th  wealthiest man in the world, as
well as the Cypriot government. Designed by world-renowned
architecture, engineering and planning firm, SmithGroupJJR,
construction has commenced with dredging and the revectment
walls completed. Apart from the two landmark ‘twisted’ towers of
over 100m which will rise above the skyline, providing panoramic
views across the beaches, coastline and Mediterranean, the
development will include an impressive marina and various
upmarket retail, dining and lifestyle amenities.
“Notably the marina, which incorporates a specially
engineered wave-absorbing breakwater, is also an official port
of entry for customs, providing immediate, convenient access
for foreign residents. This makes a quick half-hour boat trip to
Lebanon for lunch and back as easy as us popping downtown
for a restaurant meal in any South African city.
“Here you are buying into a development that has all the
attributes of becoming one of the greatest marinas in the
Mediterranean. By getting in on the ground floor, you are
capitalising on the fact that values will start shooting up as
the project nears completion – in much the same way as has
occurred in the luxury island marina development, Eden Island
in Seychelles, where those who purchased originally have made
significant capital gains. Not surprisingly, half the apartments
in Aiya Napa Marina have already sold to international buyers,
and now South Africans have the opportunity to acquire
property in this prestigious development and all its benefits.
“Simply put, if you invest EUR2 million upfront, you
acquire your passport within six months, with the opportunity
to disinvest in three years with a return of say, some EUR2.5
million – EUR500 000 of which you can use to re-invest in an
apartment for use as a holiday home or buy to let investment.
Ultimately, it’s a small price to pay for lifelong citizenship for
you and your family.”
Ayia Napa resort town is home to EU Natura sites
including Cape Greco National Park which has a wealth of
fauna and flora and over 80 species of birds.
Adds Immelman: “However, according to Expat Insider
2017, Portugal still offers the best quality of life on the planet,
with beautiful surrounds, friendly people, good food, as well as
excellent healthcare and world-class universities, making the
transition to life there even easier. 
“We continue to see a huge uptake in property in Portugal,
with South Africans riding the wave of property buyers in
Lisbon, where they enjoy significant growth in the value of
their portfolios as the property market is booming, with
demand significantly outweighing the supply.” 
Undergoing massive regeneration, the vibrant capital city
of Lisbon, just named World’s Best Tourist Destination in the
24th  edition of the World Travel Awards, is a prime global
hotspot and magnet for buyers as a hard currency investment
with solid returns and good long-term capital appreciation
prospects, as well as the opportunity for freedom of travel in
the European Union.
In order to benefit from Portugal’s Golden Visa Programme
with the opportunity to qualify for residency, foreign buyers
need invest a minimum of EUR500 000. Permanent residency
is achievable in year six and citizenship in year seven. Portugal
has relatively low tax rates of about 20 percent and no wealth
or inheritance tax or tax on overseas pensions.
“Since we began selling property via the Golden Visa
Programme less than three ago, prices have increased by 30
percent. Such is the demand that for the first time we are
looking outside our usual stamping ground of Lisbon and
Cascais to Comporta, which is considered ‘The Hamptons’ of
Portugal. Only about an hour from Lisbon and with pristine
beaches, Comporta comprises a cluster of villages ideal for
weekend getaways, with properties selling from EUR300 000.” 
SA Real Estate Investor Magazine DECEMBER 2018/JANUARY 2019
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