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Idea Holiday & Home Finder Ltd
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Economic overview of Cyprus

As a full member of the European Union, Cyprus is successfully, meeting the challenge of being part of the enlarged European family. The island’s economy is characterised by robustness and macroeconomic stability, which is evidenced by the favourable evaluations and comments of the European Commission, the International Monetary Fund and other International Οrganisations.

Important structural reforms within the context of the Lisbon Strategy have modernised and liberalised its market – oriented economy, end enhanced its international competitiveness and E.U compatibility. These structural reforms, together with macroeconomic stability, provided a strong foundation of the successful participation of the island in eurozone, which together with the sound and serviceable banking and financial institutions, have maintained Cyprus economic stability and virtues, which are widely acknowledged by businessmen, investors and property and home seekers.  

In the turmoil of worldwide crises Cyprus looks to start reviving from the not so serious economic setbacks as compared to most of the other Countries in and outside Europe and there are strong indications that the already made efforts to attract foreign investment and development to the Country will soon prove to be successful, in influencing large Investors and Businessmen take such decisions. 

Cyprus enjoys a high European standard of living whilst the cost of living remains relatively low compared to most of the fellow European Countries in the may necessities of living which is one of the advantages that appeals to a potential buyer. The island offers a full, but comparatively inexpensive lifestyle. The local markets flaunt a wealth of colourful fresh fruit and vegetables, meat and fish, locally grown and produced whilst the modern supermarkets are fully stocked with a large range of local and imported goods.   

Cyprus main comparative advantages are:  

  1. Cyprus membership to the EU and Eurozone uphelds its very stable economy.
  2. Lower tax rates and double taxation relieves
  3. Sound and Serviceable Banking and Financial Institutions
  4. Cypriot’s education, professionalism (90% know the English language)
  5. Cyprus Company Law based on English/ International law, upheld from Solicitors, Accountants, Secretaries etc.
  6. Good Standard of living
  7. Weather conditions and prettiness of the Island.
  8. On the properly side a very secured title deed and Land Registry secured service.