5 Reasons to Buy Property in Cyprus
Therefore, finding a fast-growing place, with relatively less-expensive real estate is a great thing. In this article, we will look at some of the five reasons you should consider buying Cyprus property.
Real estate is one of the best investments you can make. With real estate, you can easily secure your future by having quality passive income and growth to your net worth. However, real estate is also expensive, which means that investing in it is not an easy thing.
Cyprus Passport Investment
For starters, Cyprus is a European Union country located in the Mediterranean. The small country of less than half a million people has seen significant growth following the European Union crisis of 2012.
One reason why the country has seen significant growth is that of foreign direct investments. With no major natural resources, the country has promoted its real estate industry.
One way that the country has done this is through the Cyprus passport for investment. What this means that you can become a citizen by just buying a property in the country. If you buy a property worth more than $2 million, you are able to become a citizen.
Indeed, in the past few years, more than $5 billion worth of property has been bought. Therefore, if you want to become a citizen of a European Union member country, it makes a lot of sense to invest in Cyprus property.
Cyprus is a well-known tax haven country. This means that businesses there pay a very little amount of money in taxes.
The corporate tax rate of 12% is smaller than the EU average of 22%. Further, companies can easily use various maneuvers to avoid paying taxes. If you are an entrepreneur, your company can benefit from having access to the European Union and having to pay very little in taxes.
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If you are buying your home for investment or for residential purposes, you want to do so in a place with good returns. Cyprus is one such place where property prices are seeing impressive growth. There are several reasons why this is happening.
First, the population of foreigners in the country is growing. Third, the economic growth in Cyprus is growing as well. Further, the government has put in place several incentives to attract investments in property.
Easy Process of Buying
Buying properties in other countries is relatively difficult because of the amount of paperwork that is required. In Cyprus, the process is relatively easy. All you need to do is to find property for sale in Cyprus, get in touch with the owner, have a lawyer, and then complete the process.
In fact, a number of people have completed the process within less than a month. In addition to this, the interest rates are relatively low, which means that the cost of borrowing is relatively easy.
Secure Country with Good Weather
If you are buying a house for retirement, you want one that is in a low tax country that is relatively secure and one that has good weather. Cyprus has these qualities. As one of the safest countries in the world, the country also has great weather, with sun throughout the year. This is an important reason why many people are buying properties in the country.
Cyprus is an exceptional country that has great potential. In recent years, the country’s economic growth has been more than doubled that of the European Union. As such, it makes a lot of sense to buy property there as an investment.