Nov 21 2013

Doing Business Investment in Cyprus

In our view, there is no straight alternative to Cyprus as a International Trade and Shipping is far too advanced
and flexible. There are other jurisdictions that contain a number of features, but not in full length. One would need
to use several jurisdictions, with several layers of

1. Increase in built area (density)

a) Rural places for golf courses etc. by 10%
b) Tourist Zones (existing 20-40%) by 30%
c) Inhabited district areas by 20%
d) Town areas on main and secondary roads by 20%, 25% or 30%.

Overall 5% addition in density for projects built on renewable energy systems.
Fast track process for securing planning permission, building licence and even provisional permission
that greatly helps investors, developers very greatly for obvious reasons.

2. Free tax re-investment profits from one project to the other for new developments started to be developed from June 2013 to May 2015. It
is expected that his law will be renewed for another two years during this Government’s ruling period.

3. Non-EU Investors for 1-2 houses by €300,000 and over are entitled to Investors for €5 million
and over Cyprus permanent Cyprus residency and EU visa.

4. Quite a number of other incentives and relaxa-tions have already been granted and others are
said to follow. Among those already granted is 100% depreciation on technologies and innovation and 25% of all other assets.

By Jakub Vele • Cyprus • 0