About Cyprus: real estate, tourism, banking sector, shipping.

GDP in Cyprus returned to growth

Sensational changes in tax legislation – the introduction of a new tax residency status in the Republic of Cyprus – non-domicile tax resident means that after the success of the passport program, which attracted significant investment in the country’s economy, the government is taking the second most important step. Business owners from different countries get the opportunity to become tax residents of Cyprus, while being exempt from tax on dividends from all their companies around the world, which is 17% flat today! It takes very little time for wealthy people to realize this moment, and then hundreds of investors from different countries will take advantage of this opportunity. Moreover, we are talking about wealthy and very wealthy people who will spend a lot of time on the island, because they have something to save. This is one of the important factors that will stimulate the premium property market in Cyprus in the medium and long term.

This factor is combined with the relocation rating (Best Country to Relocate, source Knightfrank), according to which Cyprus ranks fifth after Dubai, Palma de Mallorca, the Cayman Islands, Geneva, ahead of London. Cyprus will take part of the market share here due to the fact that you can receive dividends and not pay taxes on them!

Pay attention also to the structure of tourism. The notion that without the Russian market, which is experiencing difficulties due to the devaluation of the ruble, the tourism sector will suffer greatly is also a stereotype in many ways.

The next most important moment is gas

In terms of GDP per capita, Cyprus is on the 32nd line in the world today. Gas reserves are predicted to be from 300% to 3000%. The bottom bar has already been confirmed.