This beloved island of the Gods is located among the smooth surface of the azure waters of the Mediterranean Sea. The history of this amazing island has more than one thousand years. Cyprus is considered to be the ancient home of the gods: you can hardly find any more suitable place for living and recreation. Today, Cyprus is one of the most attractive places for tourism, residence and business.

Cyprus is located to the eastern-north Mediterranean, where the Europe, Asia and Africa meet each other. This allowed Cyprus to absorb the heritage of diverse cultures and people: ancient Greeks, Romans, Egyptians and Crusaders – these is just a short list of crops, who have left their mark on the island. Each year, Cyprus has more than three million people who are looking forward to get into the atmosphere of ancient Greece, touch the archaeological heritage of Cyprus.

The population of the country is friendly and open. Thanks to its convenient geographical position, being located at the intersection of trade routes of two continents, Cyprus offers opportunities to make short trips: you can visit the Egyptian pyramids, the Holy Land, the Greek pantheon of gods and many, many others. You can visit mountains and its suitable lovely villages on weekends. Everyone will find a place that we dream about in Cyprus: there can be found quiet places for those who can enjoy the quietness and proximity to the primeval nature, noise sea resorts full of life, sport facilities, night clubs and visitors from many countries. In addition, Cyprus has a reputation of country with the lowest degree of crime. Many residents in Cyprus do not lock their homes and cars.

Cyprus has become a regional center for higher education in Europe, attracting international students from allover the world in recent years. The island provides everything to make living of students appealing. Cyprus became a full member of the European Union on May 1, 2004. It is one of the main reasons for the increase in the popularity of education in Cyprus.

Telecommunications on the island are excellent. Cyprus is the air connection center to many different countries and flight routs. This has attracted attention of many investors and it has made Cyprus one of the major shipping and offshore companies center.

Students can easily find comfortable place of residence during the studies, due to well known hospitality of Cypriots. This makes Cyprus even more attractive to investors because it is possible to pass the real estate on a long-term period for students, receiving guaranteed income without worrying about the renting out of objects.

Cyprus is a unique place gathering natural beauty of amazing landscape, a large amount of historical places, attractive facilities for business. These are only few reasons for increasing of popularity of Cyprus. Do not loose time and taste the Cyrus life by yourself, see all the pluses of living there with your own eyes!

Cyprus today is a center of telecommunications, maritime transport system and tourism, with well-developed financial system and services.

A significant proportion of the economy of Cyprus is usually brought by service market. Tourism, restaurants, real estate services, international shipping, and, of course, banking, legal and business services are among main services in Cyprus. The policy of the Cypriot leadership is aimed at transforming the trade, financial and tourist center of the Eastern Mediterranean to Cyprus. An essential element of economic policy is to attract foreign investment to Cyprus. Cyprus economy (not considered an occupied territory of the island) has a large share of services and tourism (76% of GDP).

Successful economic development has contributed to turning Cyprus into an international center for banking services  and business.  Over 30 foreign banks, two banks under foreign control and, over thousands of offshore companies are currently registered in Cyprus. The island became an important center of maritime navigation and it is currently  the sixth place  in the world ranking of maritime powers.
Cyprus is the only country in the European area, which has completed the I quarter of the year with positive GDP growth.

Since  January 1, 2008 EURO has become the official currency of Cyprus (before it was Cyprus Pound). Credit cards are also widely accepted.
Rental car services are well-developed in Cyprus. To rent a car you need to pay a deposit and have experience driving for more than two years. Cyprus also provides all conditions for diving.

This island is Mediterranean fairytale, beautiful scenery of majesty, warm and tender sea. All this make holiday in Cyprus unforgettable. The whole island is overgrown with pine trees, oaks, and spruces. Its central area is covered by mountains. The size of Cyprus island is not so great - on one hand It will take you only few days to fully overtake the entire island, visiting its main attractions. And on the other hand it can take you years and years to discover each small plot of this majestic territory due to its historical value.

Walking through the streets of towns and cozy villages of Cyprus, filled with tangerine and orange trees, you can enjoy plenty of architecture of ancient cities, eat all the flavors of local cuisine. Local villages retained their old way of looking and behaviour. The most famous cities and resorts of Cyprus are Limassol, Larnaca, Paphos, Ayia Napa, Protaras. You'll be very pleased with the meeting of Cyprus citizens.

Holidays in Cyprus is the combination of beach and mountain resorts. Weather in Cyprus is great and due to it you won't lose any day. So, bravely, have a breakfast, and go to search new unknown places, or simply visit the local attractions, which you can find here a lot. Holidays in Cyprus - is the combination of business with pleasure. After having sun baths and swimming, you can go to market, souvenir shop, a couple-three tours and finish all with unforgettable night in night clubs. After - get enough sleep to start all over again. In winter you can enjoy the speed and the wind in your ears in skiing resorts of Cyprus. Weather in Cyprus and in the soul is always similar and the number of sunny days here is 320 a year!

According to Cyrus law a foreigner can obtain a permit to purchase real estate for the purpose of residence or business. Anyone is allowed to buy for personal use one apartment or a plot of land for construction, or one house on the plot of less than 3 donum (1 donum = 43200 sq.foot = 4 012 square meters).

Buying real estate for business purposes (investments in industry or tourism) and for the production is allowed only if investments is beneficial for the development of the Cyprus economy.

The procedure of purchasing properties:

• Selection of the property;
• Signing of purchasing agreement;
• Getting prior permission of the Committee of Ministers for buying;
• Confirmation of the prior permission of the Department of Registration of land holdings;
• Payment of stamp duty - to legalize the purchase of real estate in tax Department (not later than in 1 month from the date of signing of sales contract): 15 cents for every CYP 100 (0.15%) if the purchase price does not exceed CYP 100 000, with a more expensive purchase - 20 cents fper every CYP 100 (0.2%).
• Registration in the Land Commission of Cyprus (no later than 2 months after signing the buying contract);
• The completion of settlements with the Seller of real estate;
• Getting the title.

At the time of transfering of ownership and registration of property to a buyer, you must pay the "registration tax":

• from CYP 1 to CYP 50000 - 3%;
• from CYP 50 001 to CYP 100 000 - 5%;
• for more than CYP 100 001 - 8%.

Here is an example of calculating the tax for the two facilities with different price:
1) Cost of property 90 000 CYP:
The amount of stamp duty equal to 90 000 * 0.15% = 135 CYP.
2) The value of the property is 170 000 CYP:
The amount of stamp duty equal to 100 000 * 0.15% + 70 000 * 0.20% = 150 + 140 = 290 CYP.

Aftertransfering of the property the buyer should:

- Insure property:
Combined insurance for the case of fire and other insurance risks is provided prior to the date of delivery of property to the buyer (at a rate of CYP 1.75 per CY 1000 of the value of insured property).

- In addition, the owner pays the property tax and municipal tax, which together account for approximately CYP 150.00 annually. There is also a real estate tax, which imposes on the market value of real property and which is being recalculated on January 1 of each year. The tax is paid by both private and corporate owners of property as follows:

• Up to CYP 100,000 no tax;
• from CYP 100.001 to CYP 250.000 - 2%;
• from CYP 250.001 to CYP 500.000 - 3%;
• from CYP 500.001 - 3.5%.

VAT is currently standing at 15%.