Why Cyprus Property | Buying Cyprus Properties

There are a number of reasons why you should invest in Cyprus property. Beside the fact, that the Mediterranean island has over 320 days of sunshine, there are a number other facts that can improve your decision to make such a step and purchase one of our Cyprus properties.

Cyprus offers the dual benefits of being popular for both retirees and vacationers. Retirees buy Cyprus property for their own use, largely due to the warm Mediterranean sun and to escape the snow and cold winds of winter back home. The attraction of Cyprus as a second home (or a new first home) is helped by the affordable prices and a friendly, welcoming population.

Every Cyprus property investor knows that the island is a tax haven within the European Community. There is no inheritance tax or gift tax, pensions from abroad are taxed at a flat rate of just 5%, interest earned on foreign capital imported into Cyprus is tax exempt, and investment income remitted to Cyprus by foreign nations is taxed at a flat rate of 5%. Even the corporate tax rate is a flat 10%. Cyprus also has signed double taxation agreements with many countries, including the United Kingdom. A Capital Gains Tax of 20% is payable on the sale of immovable Cyprus property, but no capital gains tax is payable on gains from investments. Personal income tax rates range form 0 - 30%.

Cyprus is a popular travel and leisure destination, with regular affordable flights from major European cities. Visitors look for quality accommodation, such as our villas and apartments can offer. This makes Cyprus property a good investment, earning you an income until you want to sell and cash in or until you decides to retire and use your Cyprus property for your own purposes.

Unlike in many other sunshine destinations, the legal system in Cyprus is based on the British legal system and is designed to safeguard Cyprus the property purchaser. This makes it particularly attractive to UK investors. Once the contract of sale is signed and a deposit is paid, the contract is registered at the land registry office. This procedure protects the purchaser's ownership rights of Cyprus property until the title deeds are issued and transferred to his or her name. The contract in the hands of the Land Registry cannot be withdrawn by anyone, and therefore the property cannot be leased, sold, transferred or mortgaged. Only the purchaser himself can alter this status.