Why Is Cyprus An Attractive Investment Destination For Indians?
Residency Overseas, one of the country's leading Property Consultancy and Estate Agents, has been appointed as the Sole representative of Aristo Developers with offices at NCR, Chandigarh and Mumbai etc. Aristo Developers is a leading real estate group based in Cyprus that offers prime residential and commercial investment opportunities, suitable for the Cyprus Permanent Residency and EU Citizenship schemes. The Company is the largest on the island and boasts an impressive land bank offering unique, large land parcels where, on Joint Development basis, Indian entrepreneurs can develop universities, hospitals, hotels etc.
Residency Overseas is expanding its business operations in all major cities throughout India thereby providing support to Indians wanting to invest in Cyprus – a European member state with excellent incentives that derive from the acquisition of the Cypriot Citizenship by Exception through property investment programme.
As the safest country in the European Union, and the fifth safest country in the world, Cyprus is an attractive place to do business and a unique place to reside. Individuals looking to invest in real estate, take advantage of the island’s unique strategic location, enviable Mediterranean lifestyle, warm climate, excellent infrastructure and first-rate tourism. Cyprus also offers the most favourable incentives in the area of taxation.
“Cyprus offers Permanent Residence and EU Citizenship through property investment. If an individual invests a minimum of €2 million (approx. Rs. 15 Cr as per conversion rate today), he/she is eligible for residency for a full family including spouse, children and parents,” says Rahul Mehta, CEO & Managing Director of Residency Overseas. “However, one can do investments of much smaller amounts as well, although that will not provide Residency to the investor”, adds Mehta.
“Residency Overseas’ passion and aim is to act as a respectable and trustworthy builder and developer in the competitive field of real estate and infrastructure in India and abroad, and it is for this reason that Residency Overseas has associated ourselves with Aristo Developers, to present excellent investment opportunities to Indian investors and business individuals,” adds Mehta.
As a thriving European destination, the island of Cyprus presents many business opportunities. Once a person has Cyprus EU Citizenship, they are eligible for all benefits offered by the European Union (EU), available to all EU residents, including higher education at reduced fees in any European country. Cyprus has already seen a surge of international investors settling on the island, predominantly from China, Russia and the United Kingdom.
Cyprus is also an attractive island with the most blue flag beaches per coastline in the world. The island also has an exceptional winter climate where one can ski on the slopes of the snow-capped mountains of Troodos and swim later by the beach. Cyprus also has many cities which offer the perfect lifestyle, all within short driving distances from one another. The island is also blessed with 18-hole international championship golf courses and stunning marinas. It is one of the largest ship management centres in the world, and its strategic location – at the crossroads of three continents, offers connectivity to all corners of the globe. Its location is also ideal for one wishing to establish trading facilities in the country.
On being asked by BW Businessworld, why there are viable investment opportunities in Cyprus, Antonis Pisharas, Overseas Business Development at Aristo Developers, said, “The reason we are here is to educate people about Cyprus. It seems like most of the Indians know the traditional markets like US or Canada and are even immigrating to those countries. But Cyprus is something which is very attractive at the moment, especially for non-European clients from high-income levels of the society. Because besides all the benefits of taxation that we have, the strategic location of the island, which is between three continents and other benefits. We also have 3 immigrations programs running parallel to real estate investments, which in the last 4-5 years seem to be very, very popular in relation to other programs of other European countries. Just to give you an example, we have 5 billion Euros of revenue from these immigration programs. Most of our clients come from places like China, Vietnam, Russia and these are the wealthy clients that are looking for second options for themselves and their families through these immigration programs. The three immigration programs currently running is the Permanent Residence Visa which one can apply and get within two months, one of the fastest in Europe. And the other one is the Cyprus Citizenship and also European passports. Both schemes cover all members of the family including children up to the age of 28. And that seems to be very, very attractive at the moment.”
