Limassol is known by many names.
Some refer to the city as the “ultimate investment hub of the Mediterranean”, others call it “the most beautiful and vibrant city in Cyprus”.
Regardless of how you characterize the city, it is undeniable that Limassol has a unique personality.
With its rich cultural heritage, growing economy, and attractive quality of life, Limassol offers a desirable combination of benefits. Thus making it one of the most attractive destinations for you that are looking to invest in Cyprus real estate, start a new business, or grow an existing one.
In this article, we’ll take a closer look at the top 4 reasons why investors are flocking to Limassol and looking to invest in Cyprus.
So, if you are a seasoned investor, a start-up founder, or just curious about this fascinating city, read on to discover why Limassol is the place to be in 2023.
The Landmark City
Limassol is a city on the rise, with a thriving real estate market, modern infrastructure, and landmark buildings that have helped to put it on the map.
The city’s infrastructure is top-notch, making it a desirable destination for investors and visitors alike.
At the heart of Limassol’s infrastructure is its modern port. The Limassol Port is one of the busiest in the eastern Mediterranean and serves as a hub for shipping and cargo operations. The port is equipped with state-of-the-art facilities and infrastructure, allowing it to handle even the largest vessels and containers with ease.
In addition to the port, Limassol’s road network is also well-developed, with multiple highways and roads connecting the city to other parts of the island. This includes easy access to the city’s facilities, efficient transportation of goods and people, and the ability to quickly and easily connect to other markets and destinations.
These advantages have made Limassol a popular destination for foreign investment, especially in the fields of real estate, tourism, and shipping.
An Economic Powerhouse
Besides being a perfectly picturesque city, Limassol has also established itself as a prime destination for investors from around the world, making it the best city if you’re considering to invest in Cyprus.
Nestled in the Mediterranean Sea, Cyprus is the third-largest island in the region. At the same time, the island holds a strategic location at the crossroads of Europe, the Middle East, and the Far East.
As the second-largest city on the island, Limassol is also renowned for its thriving finance industry and is ranked as a leading Forex hub.
Besides the popular Forex scene, Cyprus’ economy and growth are being propelled by other thriving sectors as well.
Thanks to a supportive government, favorable tax policies, and access to EU funding, the island is able to support not only people who come to invest in Cyprus but also a thriving entrepreneurial landscape.
The construction industry in Cyprus is also blooming. There has been a notable growth in demand for both residential and commercial properties. Just a drive around town is enough to spot all the new projects in Limassol.
Lastly, Cyprus has seen a rise in real estate investment, particularly in the tourist hotspots of Limassol. So, if you are looking for houses for sale in Limassol or just apartments for rent for a short period of time, the Limassol property market and CENTURY 21 Cyprus will not disappoint you.
Additionally, the government has introduced various measures like the “Cyprus Permanent Residence via an investment” to encourage investment in the sector, making it an even more attractive option.
All these driving forces are creating new opportunities for the local economy and – of course – opening new doors for those that are interested to invest in Cyprus.
A Tax Haven
One of the most important benefits of investing in Cyprus is none other than the tax perks.
These benefits include a low corporate tax rate, tax exemptions for non-domiciled individuals, capital gains tax exemption, transfer fees exemption, VAT exemptions, and tax-deductible expenses.
Investing in real estate is especially attractive, as the low corporate Cyprus tax rate of just 12.5% – one of the lowest in Europe – can help lower your tax burden. If you’re not a resident of Cyprus, you can enjoy tax exemptions on rental income and profits made from the sale of your property.
Additionally, when buying property in Cyprus, transfer fees are exempt, and if you’re purchasing a resale residential property for your own private use, you won’t have to pay VAT.
When owning a property in Cyprus, you can deduct certain expenses related to owning and managing the property, which can further lower your tax burden.
In short, the numerous tax benefits in Cyprus make it a cost-effective and attractive destination for your new investment, while also helping to stimulate economic growth and encourage investment.
The Value of Location
Limassol boasts a rich cultural heritage and history that spans thousands of years. This cultural significance benefits investors in a multitude of ways.
Limassol’s cultural heritage is a prime tourist attraction, with a thriving tourism industry. This provides a substantial customer base for businesses catering to tourists such as hotels, restaurants, and shops.
The rich cultural heritage enhances the overall quality of life in the city. Thus, making it a desirable place to live, work, and invest, driving economic growth and job creation.
Finally, Limassol’s cultural significance also contributes to building a strong sense of community and local pride, creating a positive and supportive business environment.
Time To Invest In Cyprus
Limassol has been characterized as Cyprus’ “investment magnet” and over the years, the city has been upgraded to become a true metropolis.
Recognized as the island’s “economic powerhouse”, the city offers more than just a desirable lifestyle.
Amongst the thriving construction and development scene, as well as the welcoming yet competitive entrepreneurial environment, Limassol offers a Real Estate market with immense investing opportunities.
Limassol has become a popular destination for many individuals due to its modern infrastructure, and beneficial tax system which makes the idea to invest in Cyprus even more desirable.
Limassol is the city that steals the hearts of everyone who visits. Thus inspiring some of the biggest investments around the entire island.
Thinking about investing? CENTURY 21 Cyprus knows exactly what you need!
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