By buying a property in Northern Cyprus, you are investing in your future. Unlike many and many countries, even if you do not have free funds to buy real estate, you cannot worry about where to get the money. You will be provided with loans on such favorable terms that you will even forget about the mental burden – where to get money to repay loans. Once invested, the money itself will work for you and for your well-being.
Investing in real estate means providing yourself with a steady income. The ability to use the property in different capacities, the constant rise in prices makes any property in Northern Cyprus attractive to investors. The country has an advantageous geopolitical location: at the three continents intersection, which makes it an excellent platform for doing business.
OPPORTUNITIES FOR INVESTORS
The real estate market is actively developing, as is the country’s tourism industry. The tourist flow stimulates the infrastructure development and improves the service level. This affairs arrangement opens up ample opportunities for filling new niches. Promising types of real estate are the tourism industry objects, educational institutions, industrial buildings, waste processing and other objects, which construction is supported by the government.
The most popular niche for investment is the real estate purchase for renting. Real estate, as an investment, is the most understandable and easiest option for a monetary contribution, in comparison with deposits and securities.
Investments in the tourism sector are also profitable: hotels, restaurants, large spa complexes, casinos and golf clubs. The manufacturing sector is not subject to taxes; the state provides many benefits in this area.
Buying property in Northern Cyprus, a favorable investment climate offers the following benefits:
- Favorable tax policy: low corporate tax, real estate loans, no double taxation. The tax rate in the country is the lowest compared to European countries: VAT – 5% (primarily real estate market), annual property tax – 0.3 euros per square meter, tax on the acquisition of property rights – 12%, stamp duty – 0.5%.
- The housing maintenance on the island is much cheaper than in European countries: an average of 85 euro per month, compared with Italy, where the costs are about 250 euro.
- Fast and easy procedure for obtaining a residence permit and citizenship: the buyer and his family have the right to obtain a residence permit for a year and renew it every year. For investors over 60, the residence permit is extended by 2 years. Receiving a residence permit, the buyer can use a simplified system to apply for a visa to Italy, Germany, Great Britain or the USA.
- Simple bureaucratic system and no corruption.
- It is possible to maintain investor anonymity and income origin confidentiality.
- High return on investment: income reaches 14% per year, which is why buying real estate with subsequent renting is very popular on the island.
- State guarantees for the investments’ preservation.
- Western European (Anglo-Saxon) legal system, which requires strict adherence to laws.
- Visa Free travel.
BENEFITS FOR FOREIGN DEPOSITORS
The state has an individual approach to each foreign investor. Among all the advantages, it is worth highlighting:
- The land plot long-term lease terms allow large industrial project implementation.
- Favorable lending.
- Cooperation with foreign specialists.
- Investments attraction and their repatriation (without restrictions).
- Necessary equipment and transport import without duties.
Our company offers to analyze your interests and work out various options for business development on the island. We will implement and adapt your ideas, provide legal and accounting support. We will advise on ready-made business acquisition and investment in commercial, residential real estate in Northern Cyprus.