Real Estate Investor Magazine South Africa October 2018 | Page 54

CYPRUS
Your Plan B
Best option for Property,
Residency and Emigration
BY JENNY ELLINAS
I
n this current social & politically ever-changing climate
globally, the question is: “What is your Plan B?” A solid
& secure investment for the future is an accumulation of
what you’ve done your whole life – researching, planning and
saving. It makes financial sense to critically evaluate your choice
of location: purchasing in sought-after neighbourhoods, ensur-
ing maintenance facilities and services are available; and being
aware of the importance of landscaped gardens and play areas
to contribute to a social lifestyle. Perhaps even more important
considerations are the day-to-day aspects of living in another
country: the schools, public transport systems, medical facilities,
business opportunities and social services available.
With many countries offering seemingly attractive benefits
to South Africans, the choice of where to invest whether
for permanent residency, a holiday home, a place to retire or
emigrate to; or even to set up a business can be daunting. The
complexities of understanding the multitude of legal and tax
implications coupled with language & cultural issues often
makes even thinking about a “Plan B” a non-starter.
The list of advantages for choosing Cyprus over other
English-speaking countries is extensive. Topping the list and
where Cyprus comes up trumps is the permanent residency
option open to non-EU citizens; Cyprus boasting having one
of the lowest crime rates in the world; and the easy accessibility
to Europe. The warm Mediterranean climate offers 320 days
of sunshine a year together with the 1st-world lifestyle & a
plethora of outdoor activities. This all adds up to an enviable
quality of life. The fact that Cyprus has numerous 1st class
English-medium education institutions (up to tertiary level),
cutting-edge medical facilities and care and probably one of the
healthiest climates in the Mediterranean only adds to the appeal
and cements Cyprus as a “must-see” destination.
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OCTOBER/NOVEMBER 2018 SA Real Estate Investor Magazine
The discovery of natural gas in the seas that fall part of Cyprus’
Exclusive Economic Zone (EEZ) is particular significant
because it is going to secure Cyprus’ strategic importance
globally as well as generate enormous revenue for the country.
The impact of this will ensure that not only will Cyprus’ energy
requirements be taken care of for at least the next 200 years; but
also Cyprus now becomes a supplier of energy to the Eurozone
and other countries. There are 13 sectors in the EEZ that
the Cypriot government mapped out in the Mediterranean,
spanning southwards 165km from the edge of the island. When
exploration started last year in the furthest sector south (sector
12), Noble Energy – the US-based firm awarded the contract
to do the initial explorations – announced that this sector far
exceeded their initial estimates of hydrocarbon gas. They expect
this sector alone to generate over €100Bn of revenue to Cyprus.
Cyprus is the only English-speaking country in the EU
currently offering affordable permanent residency to South
African passport-holders on the purchase of a residential
property. The opportunity to be able to acquire permanent
residency in another country has huge appeal. Cyprus still
offers this option through the purchase of a residential property,
and a Cypriot permanent residency permit offers more than
just access into an European country - there are some unique
benefits and a lifestyle elements 2nd to none.
In Cyprus the lifestyle really is the best of the best. Living is
laidback - you set your own pace. And what better place to do
this, than where the blue skies meet the Mediterranean Sea: on
the beautiful island of Cyprus.
SOURCE
Cypriot Realty; Leptos Estates; Migronis Citizenship