We counsel our clients in all aspects relating to and associated with the Real Estate sector. Our firm is recognized for the use of innovative structures and creative solutions to sophisticated and complex transactions, while providing a signature approach to excellence in service. You can expect from our experienced and resourceful team to provide you with the highest level of client care and local expertise, at all times.
Mouktaroudes & Associates will:
• Guide you through the process of a real estate investment in Cyprus
• Assist you to be granted the necessary permit by the Council of Ministers to acquire immovable property in Cyprus
• Negotiate and prepare real estate purchase/sale contracts
• Reviews and drafts contracts to avoid future disputes
• Represent buyers who are victims of mortgage fraud and predatory lending practices
• Fight against unfair eviction on behalf of tenants
• Search for and curing title defects
• Handle title insurance matters
Why to invest in Cyprus?
Cyprus, due to several reasons, is an investment destination for European and foreign investors and business people. The important geographical position, the fact that it is member of the E.U., the low taxation and many other reasons addressed below established the country as a financial hub and professional services center.
Taxation and Tax planning
Cyprus has one of the lowest corporate taxation rates in Europe, which is currently 12,5%. That is the major advantage, as companies registered in Cyprus and exercising actual management and control of their business here enjoy the tax regime both for transactions made outside or inside the country. As to individuals – physical persons, Cyprus provides tax benefits for non-domiciled tax residents of Cyprus, who are excepted from obligations to pay defense contribution at the rate of 17% imposed on dividends distributed by Cyprus companies to their shareholders.
The tax regime is in conformity with both European Union Law and in compliance with the Organization for Economic Cooperation and Development (OECD).
The lowest taxation rate applies also to copyrights, on literary, artistic and scientific works including film and television royalties. There is no taxation for profit made from the sale of shares, bonds and debentures.
Double Taxation Treaties
Cyprus has signed over 45 double tax treaties and is in negotiation with some other countries for signing even more treaties.
The main reason of double tax treaties is to avoid the International Double Taxation when the same profits of a legal entity or of an individual are taxed in two or more countries. Those treaties, along with the low taxation rate, confer stability and certainty in the course of trade.
The position of Cyprus is considered as strategic in geographical terms, as it is positioned in the crossroad of three continents (Europe, Asia and Africa), and is one of the main reasons which established the country as a financial hub and professional services center.
Cyprus proposes excellent possibilities as an efficient logistical and distribution centre in the region, facilitating trade (and business relations) between Europe, Africa, the Middle East and Asia. It is also an ideal transshipment center, with Cypriot companies operating independently or with foreign partners to ship goods into and out of the EU via Cyprus.
Member State of the EU
Cyprus is a member state of the European Union since 2004 and has implemented the EU Regulations and Directives into the domestic legislation. It has gained many benefits both economic and political and has also increased its businesses and investments as a result of the accession into the EU.
Thus, Cyprus is one of the most credible and reliable locations for professional services and offshore activities. Simultaneously, Cyprus enjoys solid bilateral partnerships and excellent relationships with the rest of the world, such as with the US, Canada, Middle East, North Africa, Russia, CIS countries, India, South Africa and Australia. That means the country is also a destination for international business and investments.
Highly trained labor/ Infrastructure
Cyprus has good infrastructure, with well trained personnel and focused on professional services. The labor is well educated, experienced and multilingual.
Cyprus has a very advanced professional services sector, such as legal, accounting and tax planning. This facilitates economic growth and sustainability, which truly makes Cyprus one of the most favorable jurisdictions and financial hubs in the world.