Cyprus has an expansive coastline of 486 miles long. Ranging from secluded bays to lively resorts, sandy beaches and rocky caves,  most beautiful beaches of the Mediterranean Sea, famous for their turquoise clear waters and golden velvet sands. Cyprus offers visitors a wonderful living experience that combines a comfortable and stress-free way of life with a modern and sophisticated environment, ideal for people seeking the perfect balance between business and pleasure.  Ayia Napa Marina is the new premier yachting destination and an ideal social and meeting point. Easily accessible from the island’s major highways and just 30 minutes’ drive from Larnaca International Airport.

The Cyprus citizenship program offers the most simple and efficient means of obtaining EU citizenship, it is the only direct EU citizenship program as it has absolutely no residency requirement and passports are issued in just 6 months. Investors and their families can obtain full EU rights, including the ability to live and work in any EU country practically immediately!

Dual citizenship offers an effective tool for international tax planning and provides financial privacy for banking and investments. It improves personal security, enables freedom of movement and allows access to the best healthcare and education opportunities.

• Cyprus as a member of the EU
• Full EU member since 2004
• British Education System -Currency: Euro
• Countries in the EU, are amongst the highest positions in the Human Development Index (HDI) -Free movement to EU country members
• Access to dual Citizenship
• Visa free travel to 148 countries in the world.

Why Cyprus?

• 1st Safest small country worldwide
• 3rd Lowest corporate tax in the EU
• 5th Best relocation destination worldwide
• 5th Safest country of any size worldwide
• 11th Healthiest country in the world
• 10th worldwide in education expenditure per GDP
•  Cyprus is a Member of EU and EMU, meaning: Lowest EU corporate tax rates (Cyprus has a wide network of Double Tax agreements ensuring that the same income is not taxed in more than one  country)
•   High standards of education
•   Highly qualified and multilingual labor force
•   Efficient legal, accounting and banking services
•   Very good standards of health care with English speaking and not only, medical staff.
•   Very high and comfortable standard of living with slower paces, hence very low stress levels.
•   Cyprus is one of the most competitive shipping centers in the world, in terms of registration fees and taxes.
•  Easy access to the island (over 1100 scheduled flights per week, 33 international airlines connect Cyprus with Europe, Asia and Africa.
•  Approximately 70 shipping lines include Cyprus in their regular schedules
  to and from the five continents.)
•  Advanced telecommunications network and infrastructure- easy access from one city to another with hardly any traffic queues.
•  Very low crime rates
•  Sunshine approximately 320 days a year: offering the possibility to sunbathe, swim, camp, sail or play golf all year round.
•  Lower property prices compared to Western Europe
•  Rich in historical monuments, arts, culture, gastronomy and
•  A very attractive location for wine  foreign investments since it is the point of exchange between three continents
•  Perfect gateway for businesses to penetrate new markets
•  EU blue flag beaches

ACQUIRING CYPRIOT CITIZENSHIP BY EXCEPTION

CRITERIA AND CONDITIONS

Privately own a primary residence in Cyprus valued at €500,000 (+VAT) or more
AND
Invest at least €2,000,000 in the following areas:

• Land development, real estate, and infrastructure projects*
• Financial assets of Cypriot companies or organisations
• Alternative Investment Funds or financial assets of Cypriot companies/ organisations that are licenced by the Cyprus Securities and Exchange Commission
  Combination of the above criteria, which can also include investment in government bonds of up to €500.000

*If the investment is made only in residential real estate, there is no requirement of an additional primary residence of €500,000 (+VAT) so long as at least one of the investment properties is worth at least €500,000 (+VAT).

The Cyprus Citizenship Programme requires that the investor purchase a primary residence in Cyprus of at least €500,000 (+5% VAT) value. This property can be used as your residence, vacation home, or simply an investment property for long or short term rental. To maximise the 5% reduced VAT rate, your primary residence should be the most expensive in your portfolio.



ELIGIBLE APPLICANTS:

• Private Individuals, either alone or jointly with spouse
• Shareholder in a company, proportional to his/her holding percentage
• High-ranking manager of a company (provided he/she receives income that generates at least €100,000 of paid tax revenue over three years)

ADDITIONAL INFORMATION

• The programme takes 6 months; 3 months for the residency per- mit and 3 months for citizenship.
• The investment in government bonds is restricted to €500,000
• The exit strategy for the programme is 3 years but a primary res- idence of at least €500,000 (+VAT) value must be maintained in Cyprus to keep citizenship.
• There is no requirement of residing in Cyprus after acquiring citizenship
• If the investor does not have a Cyprus residency permit, the ap- plication for residency will be submitted simultaneously with the application for citizenship.
• Parents of the applicant may purchase a joint permanent residency with the applicant so long as that property is valued at €1,00,000 (+VAT) and the total investment amount in real estate is increased by at least €500,000 (+VAT).

ELIGIBLE DEPENDENTS

• Children of the applicant up to the age of 18, so long as the other parent consents to the citizenship.
• Children of the applicant ages 18 to 28, so long as they are de- pendent as students or with severe physical or mental disability which prohibits employment.
• Parents or parents in law of the applicant, so long as they are financially dependent and purchase an additional primary resi- dence valued of at least €500,000 (+VAT).

CYPRUS CITIZENSHIP  APPLICATION PROCESS

1. INVESTMENT €2 MILLION

○ Investment in various properties €1.5 million / Purchase of Private Residence €500,000, or Invest in a Luxurious villa over €2million

2. WEEKS PREPARATION

○ Prepare Citizenship Application File

○ Prepare supporting documents

○ Submit Application

3. VISIT CYPRUS

○ Provide Biometric Data

○ Collect Permanent Residency Card

4. 6 MONTHS (FAST-TRACK) PROCESSING TIME

○ Ministry of Finance review docs

○ Ministry of Interior conducts due diligence

5. 10 DAYS

○Visit Cyprus
○ Swear an Oath of Faith ○Certificate of Naturalization
○ Collect Passport and Identity Card

 

Cyprus Permanent Residence

Cyprus also offers fast track immigration permit to investors with the following benefits,

• Fast track immigration permit for Non EU citizens
• Own a company and work in Cyprus.
• High approval rate
• Processing within 2 months
• No requirement to visit Cyprus but required once in two years
• Dependent children from 18-25 can be included with parents
• Freehold property, no inheritance tax

On the 22nd February 2016. the Council of Mincers adapted new revisions regarding the Permanent Residency Program in Cyprus. The new rules provide for further family remuneration entitlements

•  A single applicant or couple (husband and wife) may purchase 1 (One) property with a minimum value of 300.000 Euros + VAT  OR   A total of 2 (two) residential properties (houses or apartments)
•  A residential property and one shop up to 100 sq. meters
•  A residential property and an office up to 250 sq. meters.
•  The properties are not required to be connected and/or joined but must be purchased from the same land development company.

Conditions

• Purchase residential real estate of total market value of at least €300,000 (+VAT) of which, at the time of application, at least 2/3rds is paid.
  Deposit of at least €30.000 into a Cyprus bank account, pledged for a period of at least three years.
• Provide evidence of a secure annual income of at least €30,000 + €5,000 for every dependent person (spouse and children) and + €8.000 for every dependent (parent or parent-in-law).
•  Expedited process takes 3 months.
•  If you or your spouse is an EU citizen or has a parent who is a Cyprus citizen, contact your local embassy to enquire about Cyprus residency regulations.
•  The Immigration Permit does not allow the undertaking of any form of employment in Cyprus
•  Holders of an Immigration Permit must visit Cyprus once every two years
•  Non-financially dependent children of the applicant over the age of 18 may also be granted residency, so long as the market value of the acquired real estate is increased by at least €300.000 (+VAT) for each child.

Invest in Residential and Commercial Real Estate

Luxury Mansion

Purchasing a single mansion of at least €2,000,000 (+VAT) value as your first primary residence in Cyprus will fulfill the investment requirements of the citizenship programme and incur only 5% VAT on the entire investment. This is the best choice if you wish to acquire EU citizenship and live or vacation in opulence while in Cyprus.

Villas

Buying Four villas valued around €500,000 (+VAT) each are a strong choice for investment. Villas are on the coastline with high specifications, swimming pools, and within a walking distance to the beach. The purchase of Villas, can be considered as an excellent investment, considering the satisfactory ROI of the rental market.

Tourism sector

The package includes a villa valued at €500 000 euros, plus a commercial-hotel investment option. The investment options are usually referred to the purchase of existing hotels or shareholding packages in hotel projects. Karma Group manages these information as confidential and are only revealed after serious interest.

Mixed Properties

Owning a varied mixture of villas and apartments allows you to have a more diverse income flow for rentals and ensures that, when you choose to sell your properties, you will have multiple markets available. This often includes two or three villas and a bundle of apartments valued €2,000,000 (+VAT).

The Karma Group offers foreign investors the following properties which qualify for citizenship and permanent residency in Cyprus.

1. ATOPETRA MANSION

Elegant in design and exceptional in location, Atopetra Mansion is an exclusive and unique property, located in one of the most sought-after areas of eastern Cyprus.

• Situated near beautiful Cape Greco between the lively resorts of Ayia Napa and Protaras
• Consisting of three levels with panoramic sea views.
• Surrounded by a protected green zone with a vast garden and spectacular swimming pool
• Creates a feeling of space, comfort, and privacy over an expansive 382 m2 interior and 1,757 m2 plot



The mansion includes:

– 510m2 covered areas on a 1757m2 plot
– Includes basement and rooftop
– 4 bedrooms with en-suit bathrooms
– Overflow high-tech infinity pool

• Fully automated smarthome
• Five(5) minutes from Protaras
• Ten (10) minuted from shopping centers
• Ten (10) minuted from Private International School

2. HARISSA MANSION

HARISSA MANSION is an exclusive development by Karma Group, located in the most beautiful and unspoiled part of Cyprus, only 1km away from the upcoming Protaras Marina, and the blue flagged awarded beach of Fig Tree Bay.



The Mansion consists of:

300m2 covered areas on a 1500m2 plot
4 bedrooms w/ 2 1/2 bathrooms
Overflown pool with Cinema
Firepit with sitting area
• BBQ area
• Rooftop Jacuzzi
• Rooftop Bar
• Playroom/Cinema in the basement

 

3. ICON SIGNATURE

THE ICON SIGNATURE Villas is the most exclusive seafront development in the East Coast Cyprus by KARMA GROUP, located in the most beautiful and unspoilt part of the country 2km away of the stunning Yacht Marina of Ayia Napa, and only 3km from
the city centre.



High tech deluxe seafront mansion near the upcoming Ayia Napa Marina.
Designed with the finest materials and controlled by home automation systems.
Lavish Mediterranean mansion with amazing sea views, expansive infinity pool, and mesmerising sunsets.

366m2 covered areas on a 1250m2 plot
Five (5) master bedrooms with en-suite bathrooms
High-tech gym
Living room with panoramic seaview
• Lift from basement to first floor
• Overflow high-tech pool
• Fully automated smarthome
• Five (5) minutes from Ayia Napa Center

4. MALAMA VILLAS

Enjoying a prime location on the first line to the sea, only 500m walk away from a sandy beach, these 3-bedroom villas are face-to-face with the turquoise Mediterranean, its glittering waves only steps away from your sunny patio.

The Malama Villas are located in the Kapparis area of Protaras. A wide range of amenities are available in close proximity, from restaurants serving local and international cuisine, to cafés and bars and supermarkets, and even a private, international school just a 10 minute drive away. The popular resort town of Protaras is a mere 10 minute drive away, offering an array of shops and restaurants, buzzing nightlife, as well as access to some of the most highly awarded beaches in Europe. For added convenience, the Larnaca Airport is a short 35-minute drive away, allowing for ease of travel to and from the island.


Four (4) Villas at 155m2 covered areas on a 350m2 plot
Three (3) berooms with full bathrooms
Overflow pool
Large garden sitting area
Modern design

• 2km drom the upcoming Protaras Marina
• Five (5) minuted from Protaras center
• Five (5) minutes from paralimni center
• Ten (10) minutes from Private International School • Five (5) minutes from shopping centers

5. MILOS VILLAS

MILOS complex is situated in the Green Bay area, a very sought-after location in Protaras. The project is blessed with breathtaking views, surrounded by green and is looking down on to the sea.



• Situated on a peaceful plateau, overlooking the Mediterranean, just a few minutes away from the vibrant resort of Protaras.
• Artfully designed to blend modern architecture with the beautiful natural environment of Cyprus.
• Luminous and elegant interiors create a sense of contentment and serenity
• Spacious 3, 4, and 5 bedroom villas with large plots, all walking distance from the Blue Flag beaches.

Available in 2, 3, and 4-bedroom villas w/ full bathrooms

BBQ area with dining
Overflow pool
Large garden
Roof-top with view of Protaras Bay
Large basement
Ten (10) minuted from shopping centers 2km from Protaras Center
8km from Paralimni Center
10km from Ayia Napa

6. IONION SEAFRONT VILLAS

Every corner of this unique complex is inspired by images of natural Greek beauty. Luxurious villas with 3, 4, and 5 bedrooms, each with private swimming pool and garden facing the crystal-clear water of the  Ayia Napa shoreline.

Exclusive seafront villas in a gated development next to the national forest of Potamos.
Located beside the tranquil harbour of Potamos, only minutes away from all amenities.
Luxurious villas with 3, 4, and 5 bedrooms, each with private swimming pool and garden.

2 2 Villas from 120m to 190m
Large garden areas
Private overflow pool
Large living room with fireplace
• Seafront Villas, only 50 meters from the beach
• Five (5) minuted from Ayia Napa Center
• Two (2) minuted from the Upcoming Ayia Napa Marina • Ten (10) minutes from International Private High School

7. HALKIDA GREEN HOMES

HALKIDA GREEN HOMES are four (4) luxury detached villas situated in an amicable area in Paralimni, and within a very close distance from schools, and shopping centers.



Villas 180m2 covered areas on 400m2 plot
Three (3) bedroom villas with 2 1/2 bathrooms
Sitting Area, Dining Room, and Living Room
Full kitchen with dining table
• Storage and Laundry Room
• Large Garden
• Two (2) minutes from nearby High School • Five (5) minuted from Protaras Center

8. PERNERA BLUE HOTEL

The Hotel is consisted of 45 apartments, rated class A according to Cyprus Tourism Organisation. The complex sits on a 4198 m2 plot, located close to an awarded blue flag beach. The actual distance to the beach is less than 200 metres.



The hotel’s amenities include a pool, a children’s pool, a tennis court, a volleyball court, and a sauna. A mature garden surrounds the hotel complex.

The hotel has all the necessary building and operation permits, including a Cyprus Tourism Organisation operating license as well as a Town Hall operation license, and a Certificate of final approval for the Structures.

Conversion to a 3* Hotel:

An application has been submitted to the appropriate authorities to acquire a town planning permit to convert the existing apartment complex into a three-star (3*) hotel of 102 rooms or 211 beds.

Also, potential investors have the opportunity to proceed with a purchase of a shareholding packages.

9. THE P237 HOTEL PROJECT

The hotel’s capacity is 137 rooms, but it is important to note that based on the new governmental tourism policy, the number of hotel’s rooms might be increased up to 20%.



It is currently rated as 3* hotel by Cyprus Tourism Organization, but an upgrade might be achieved under certain conditions. It was renovated just two years ago and this period of time as a business is enjoying fully booked periods and very profitable results.

It is worth mentioning that the Hotel Property is located in a nice area in Protaras with several blue flag beaches within a walking distance.

10. KAPPARIS HOTEL

The existing Hotel is consisted of 142 rooms. It is located in a land plot of 25 000 squared metres in a nice tourist area, in a walking distance from the nearest beach. The hotel is not operating this period of time and a renovation is required.



The size of the land allows the expansion of the Hotel to 266 rooms 3* Hotel, according to the legislation of the Republic of Cyprus. The scenario of a conversion to a 4* Hotel, could also be examined, but with a lesser number of rooms.

The number of 266 rooms, could be analysed as follows: 153 X 1 Bedroom

18 X Mini Family Room (2-3)

95 X Family Room (4-6)
After the expansion, the hotel will have guest capacity of 800 persons.

The current trends of the tourism industry and its size are promising factors for high profitability. Noted, that the financial projections are available on request for a 20 years period.

11. MYTHICAL SANDS

The Mythical Sands project is divided into three phases and incorporating 6000m2 of green areas, communal facilities for all residents, playground and sport areas, public footpaths that lead into the main street of Kapparis, and include private roads with private gates. Located only 500m from the Malama Beach, and only five minutes drive from Paralimni Centre, and Protaras Tourist Area.



Situated in the heart of Kapparis, Protaras area, it is the largest spa resort on the East Coast of Cyprus.
Walking distance from award winning beaches.
Exceptionally designed luxury townhouses and apartments.
Spacious and modern development with over 6000 m2 of green areas, communal facilities, playgrounds, footpaths, and parks.

Mythical Sands Resort & Spa is a residential resort, yet provides a wealth of magnificent spa facilities for the entire family to enjoy. Residents will have access to the latest state of the art equipment, captivating free flowing indoor and outdoor pools, sports, children facilities, bar, restaurant, tranquil relaxation areas, extensive sun terraces and private parking spaces.

Project Facilities:

Health Food Bar
Outdoor swimming pools
Two extensive children play areas Football pitch
Tennis court
Relaxation areas
Water features and fountains Outdoor patios and sun terraces Summer home cinema
Mini market
Clothing shops

About Karma Group of Companies

Karma Developers was established in 1985 and is now a member of the fast growing property development, construction and investment Karma Group of Companies, one of the leading and evolving groups in Cyprus.

Today Karma Developers has flourished by delivering more than 3000 quality properties and is continuing to evolve, offering great new projects with unique designs and sought after locations along the stunning Eastern Coastline.

• Established in 1985 with over 30 years of experience
• Our Vision: creation of unique and quality projects
• Delivery of top quality residential and holiday homes
• More than 100 projects completed & 3000 properties delivered
• Strong Cypriot buyer base
• Contributed in the promotion and shaping of the East Coast of Cyprus with the most projects built
• Commercial buildings to co-operational projects and foreign investments
• Main concern: always to deliver “Quality over Quantity”
• Strong and incomparable after sales department
• Unique designs with an abundance of facilities and functionality
• Profound relationships with associates and clients
• Ownership of land in the most sought-after locations

Source: www.karmadevelopers.com.cy