During the Covid-19 pandemic, the Cyprus government has proved strong on all its decisions in order to protect its people against Covid-19. All major world news agencies recognised the efficient safety measures of the government and the measures to successfully restart the economy. They refer to a Model case in handling Covid-19 which made it one of the safest countries in the world.
These measures were recognised by the investors, where according to an online survey by Invest Cyprus, 92% of the foreign investors were satisfied with the country’s efforts to fight Covid and 88% said that lawyers, accountants and bankers played a vital role of ensuring smooth business.
In a recent article of the French newspaper “Le Monde”, the moguls coming from countries with a poor epidemiological picture are looking to acquire citizenship in countries where they can move freely. Thus, Cyprus is becoming more popular for its Cyprus investment programme, as it has a very low infection rate.
The incentives given by the Cyprus government through the Cyprus Investment Programme are that by investing an amount of minimum €2 million, an investor and his family can enjoy the benefits of a European citizen, live in a safe country and easily travel to more than 172 countries worldwide. These are basic factors that businessmen and investors around the world consider seriously and the Cyprus Government has decided to speed up the application processing time to within a 6-month period.
All the above incentives, together with the all-time benefits of living in an EU country, with sunny weather, good hospitality, infrastructure, good communications, high levels of safety, trained staff and a favourable tax regime with an extensive network of double taxation treaties makes Cyprus one of the most attractive countries to live and invest.
Meanwhile, new large-scale real estate projects like luxury villas, marinas, Highrise towers continue to be constructed to satisfy the needs of wealthy investors. The country’s Minister of Finance is optimistic that the country will fully recover as it has done in difficult times in the recent past. The same optimism is expressed by the CEOs of the major construction and development companies of the island, who predict that as from 2021 the Real Estate Market will have a very positive outcome.
Due to the Cyprus economy’s strong basis built over the past years from the authorities and private sector, all forecasts suggest that the island will be considered among the top safe investment destinations and that investments on the island are expected to dramatically increase from wealthy international investors in the near future!