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Most things in life involve a trade-off. For example, if you’re buying a car you have to trade off fuel efficiency, size, load-carrying capacity, off-road capability, style, cost and performance.
But sometimes you find an option that just doesn’t seem to have any negatives – and buying into a residential estate in Cyprus pretty much falls into that category. Firstly, Cyprus is gorgeous – the blue Mediterranean, white beaches, charming villages, great food, fantastic cultural heritage, and a safe and secure lifestyle. And, possibly most attractive of all, Cyprus is part of the European Union, and a suitable investment can get you citizenship. Now that’s a really attractive option – total freedom of movement throughout the European Union and Switzerland, and visa-free travel to about 170 countries. And you don’t have to give up your existing citizenship.
So what’s the catch? You’ll have to live in Cyprus, you think? Aaah, it sounds very nice for a holiday, but you can’t just up sticks. Wait, that’s the best part − you don’t! Cyprus’s citizenship by investment programme offers citizenship in exchange for investment with no residence requirements. That means you can buy a property for investment purposes, and rent it out – either long term or short term.
OK, this is where the trade-off is: it’s not cheap. You will need to invest € 2 million in either a single residential dwelling or a portfolio of properties. The choice is yours. You don’t have to live in any of the properties – and can choose to rent your investment out − but you have to keep it for a minimum of three years. After the three years, you can sell, and reinvest the money as you choose, as long as you retain one primary residential property, with a minimum value of € 500 000.
Of course, buying property sight unseen on an island on the other side of the world can be a tad risky, so you really do need to be sure you’re dealing with a reputable company that’s been in business for more than a couple of weeks, and that the property you’re buying is not just any old house photoshopped onto a pretty backdrop.
Such a company is the Leptos Property Group, who is represented by Cypriot Realty in South Africa. One of the leading property developers in Cyprus, Leptos has been creating desirable, stylish residential estates in the most beautiful parts of the island since the 1960s. They realised pretty early on that a residential community needs to be part of a greater community, and ought to contribute to the overall prosperity of the area in which it is situated. That’s why they have carefully integrated their residential properties with tourism and healthcare projects. By also building private hospitals, the group has ensured that residents will always have access to world-class medical care. And Leptos has even created the first university on Cyprus that trains professionals in the building, property management and hospitality disciplines, thus ensuring a steady supply of talented and highly qualified professionals to contribute to the sustainable creation and maintenance of their residential and other projects.
Most of Leptos’s properties are situated in the “Golden Mile”, a gorgeous piece of Mediterranean coastline stretching from the pretty and historic Paphos Harbour to the beautiful Blue Flag beaches of Coral Bay. There are so many to choose from that chances are, once you’ve browsed a few, you’ll feel the need to jump on a plane to check them out – and immerse yourself in the warm clear Mediterranean. It’s a ten-hour flight and they’re in the same time zone, so there’s no wasted days due to jet lag.
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