Tag: Cyprus Tax Benefits

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The key to a smooth property purchase in Cyprus

cyprus law

Over the past months, while fine-tuning our proposition for Cyprus, we have found Polycarpos Philippou & Associates LLC and their website, www.philippoulaw.com, to be a valuable resource for detailed, accurate, and helpful content about all aspects of law in Cyprus. If you’re considering moving there, we recommend starting your journey with us at MyElysium, and we can guide you towards the right legal experts to ensure a smooth property purchase in Cyprus.

The importance of legal advice when buying in Cyprus

Making a significant financial decision, like purchasing property in a foreign country, requires thorough understanding of the local legal system. Cyprus has its own unique legal landscape, which differs from the UK, making professional guidance essential for any property purchase or investment decision. Partnering with experienced legal experts is key to avoiding potential pitfalls and ensuring that your investment is secure.

For example, if you’re considering relocating and need immigration guidance, you can find detailed advice in this article from Polycarpos Philippou & Associates LLC: Immigration and Residence Permits in Cyprus.

Expertise of Polycarpos Philippou & Associates LLC

We have been working closely with Eleni Philippou and Ioannis Pitsillos at Polycarpos Philippou LLC, and their level of service has been outstanding. They are part of an experienced, forward-thinking, and professional team based in smart modern offices in Paphos. Both Eleni and Ioannis are bilingual, and their professionalism mirrors that of solicitors in England, except for the beautiful Mediterranean surroundings!

They specialise in the following areas of Cypriot law:

  • Residential and Commercial Conveyancing
  • Immigration Law
  • Wills and Probate
  • Corporate Law
  • Litigation

Their deep expertise and personal approach ensure that, whether you’re moving to Cyprus for retirement, buying a holiday home, or relocating your business, you will be in excellent hands.

If you’re exploring property investments in Cyprus, we recommend checking out their article on Property Investment in Cyprus. It offers great insights into the legal considerations for property buyers.

For business owners interested in moving their operations to Cyprus, their expertise in corporate law is essential. Here’s a helpful guide on Company Incorporation in Cyprus.

Why choose Polycarpos Philippou & Associates LLC

Whether you’re moving to Cyprus for personal or business reasons, you can trust Eleni, Ioannis, and their team to provide exceptional legal guidance. For anyone considering relocating to Cyprus, we highly recommend starting your legal journey with Polycarpos Philippou & Associates LLC, where you’ll find comprehensive guides and up-to-date information about Cypriot law.

Why choose MyElysium to get your property journey started

At MyElysium, we take pride in offering our clients expert guidance every step of the way. Whether you’re buying property in Cyprus for personal or business reasons, our experienced team is here to help you navigate the complexities and find the perfect fit. With our deep knowledge of the Cypriot market and our trusted partnerships, like with Polycarpos Philippou & Associates LLC, we can ensure that your journey is smooth and successful.

Stay tuned for future insights

Keep an eye out for our blog posts, where we’ll share more of Polycarpos Philippou & Associates LLC’s legal insights. Soon our website will deliver a whole section on legal matters regarding making a move to Cyprus and expert advice to make your property journey as smooth as possible, so watch this space!

Contact us to start your journey to Cyprus

Call us today to find your perfect property and start your journey of relocating to Cyprus. Our team is ready to assist you with every aspect, from finding the right property to connecting you with trusted moving partners. 

Thank you for reading our blog on ‘The key to a smooth property purchase in Cyprus.’ Would you like to find out more about why it’s a good time to move your business to Cyprus? Visit our news section to read Cyprus: The Strategic Choice for Growing Your Business.

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Cyprus: The Strategic Choice for Growing Your Business

Known for its rich history, vibrant culture, and dynamic cosmopolitan lifestyle, Cyprus is not only celebrated for its exceptional quality of life but also recognised as one of the healthiest places to live globally. As the legendary birthplace of Aphrodite, Cyprus, often dubbed the “Island of Love”, is actively nurturing economic growth. The island offers compelling incentives for businesses, including favourable tax advantages and double taxation treaties, making it an ideal destination to relocate your business.

Relocating your business to Cyprus provides an array of benefits, allowing companies to capitalise on favourable tax structures while enjoying the Mediterranean’s sun-soaked coastlines and an elevated standard of living. 

Here’s why Cyprus is the perfect choice for growing your business in a welcoming and prosperous environment:

Competitive Corporation Tax Rate: Benefit from a low corporation tax rate of just 12.5%, one of the most appealing rates in Europe, making it advantageous to relocate your business to Cyprus.

Pro-Business Government: Take advantage of government policies designed to foster and support business growth.

Efficient Business Registration: Enjoy a streamlined and rapid business registration process, enabling you to start operations quickly after you relocate your business to Cyprus.

Modern Office Facilities: Access luxurious, state-of-the-art office spaces tailored to meet your business needs. 

Low Operational Costs: Experience a cost-effective environment with low living costs and reduced business overheads when you relocate your business to Cyprus.

Access to Skilled EU Workforce: Hire highly qualified and affordable EU staff to drive your business forward.

Double Taxation Treaties: Benefit from tax efficiency through double taxation agreements, including those with the UK, when you relocate your business to Cyprus.

Inheritance and Dividend Benefits: Enjoy the advantage of no taxes on inheritance or dividend income, allowing you to retain more of your wealth.

UK-Based Legal System: Operate within a legal framework based on UK principles, providing familiarity and confidence for British businesses, making it easier to relocate your business to Cyprus.

Strategic Global Position: Utilise Cyprus’ strategic location for easy access to European, Middle Eastern, and global markets, making it a hub for international trade.

Cyprus offers the perfect combination of opportunity, lifestyle, and business growth potential. As your business faces the challenges of a changing economic landscape, consider Cyprus as the strategic choice to relocate your business to and thrive in an ideal environment. Let this sun-soaked island become the next chapter in your company’s success story.

Contact Us to Start Your Journey to Cyprus

Call us today to find your perfect property and start your journey of relocating your business to Cyprus.

Thank you for reading our blog on ‘Cyprus: The Strategic Choice for Growing Your Business’ Would you like to find out more about why it is a good time to buy a home in Cyprus? Visit our recent blog here.

Please note that the information provided here is for general purposes only and does not constitute professional advice. We recommend consulting with a tax advisor or financial expert to understand how these benefits apply to your specific situation.

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Why buy a home in Cyprus?

Paphos - why buy in Cyprus?

Why buy a home in Cyprus? Cyprus, strategically located in the eastern Mediterranean Sea, offers a unique blend of cultural and geographical advantages. While geographically part of West Asia, its cultural ties and geopolitics are predominantly Southeast European. Since joining the European Union in 2004 and adopting the Euro in 2008, Cyprus has become a prime destination for property buyers. So, why buy a home in Cyprus? Let’s take a look.

A rich history and culture combined with modern convenience

Cyprus is not just steeped in history and culture; it is also considered one of the healthiest places in the world to live. With a subtropical Mediterranean climate, stunning mountain ranges, traditional villages, and miles of beautiful beaches, Cyprus offers an unmatched quality of life. The island is also a thriving hub for international business, thanks to its favourable tax regime and strategic location.

With around 320 days of sunshine annually and a warm, welcoming population, Cyprus attracts approximately 4 million tourists each year. This high demand also drives the local property market, making it an appealing investment opportunity with house price inflation mirroring trends seen in other European cities.

Why invest in Cyprus real estate? Why buy a home in Cyprus?

The residential property market in Cyprus is both sophisticated and active. While still affordable compared to many other EU countries, property prices have risen significantly in recent years, making Cyprus an excellent place to invest. The buying process is similar to the UK, and non-residents can purchase property with ease. Moreover, incentive schemes are available for those interested in fast-track residency through purchasing new-build properties worth over €300,000 (subject to conditions).

Advantages for UK buyers

For UK buyers looking to buy a home in Cyprus, Cyprus offers several familiar comforts: 90% of Cypriots speak English, the legal system is based on the British model, and driving is on the left-hand side of the road. You can even import a duty-free car. The cost of living is low compared to most major European countries, and the quality of shops, supermarkets, and services is exceptional, offering a vast range of choices that often surpasses those in the UK.

Modern infrastructure and high living standards

As an established EU member, Cyprus has benefited from significant infrastructure investments. The roads are modern and well-maintained, linking the island’s east and west coasts seamlessly. The telecommunications infrastructure is advanced, with widespread access to fibre optic broadband. This high standard of infrastructure is a major draw for both residents and businesses.

Cyprus has also invested heavily in education to cater to international demand, with numerous private schools offering top-tier education. The healthcare system is another highlight, with new hospitals and high-quality health services that often exceed expectations.

Diverse leisure activities

Cyprus is one of the few places in the world where you can snow ski and swim in the sea on the same day. The Troodos Mountain range, including Mount Olympus, offers a stark contrast to the sunny beaches and bustling tourist resorts like Paphos, Ayia Napa, and Limassol. Limassol, in particular, is a booming city with luxury apartment buildings, high-end hotels, fashionable boutiques, and gourmet restaurants. For those seeking culture and history, the island is dotted with traditional villages where time seems to have stood still.

A haven for retirees

Cyprus is home to around 10,000 UK retirees who either rent or own villas and apartments on the island. Thanks to the Cyprus-UK double tax treaty, residents benefit from various forms of tax relief and exemptions, ensuring they are not taxed twice on their income or pension. Renting property in Cyprus is straightforward, and the island boasts low crime rates, minimal vandalism, and little pollution, making it an ideal place to retire.

Experience the better lifestyle of Cyprus

If you’re ready to explore the better lifestyle that awaits you on the island of love, the birthplace of Aphrodite, contact a member of the MyElysium team today. Let us help you find your dream home in Cyprus.

Ready to find your dream home in Cyprus?

Don’t wait to make your dream a reality. Whether you’re looking for a seaside villa, a modern apartment, or a traditional village home, we’re here to help. Contact us today to start your journey to owning a home in Cyprus and discover why so many are choosing this beautiful Mediterranean island for their next property investment.

Thank you for reading our blog on ‘Why buy a home in Cyprus?’. Would you like to find out more about Limmasol? Visit our recent blog here In Focus: Limassol