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Aphrodite Hills – Buyers Guide

Aphrodite Hills – Buyers Guide

Purchasing property at Aphrodite Hills

* Prices quoted are excluding VAT. Please speak to us today for more information.

We are pleased to offer a selection of properties for sale at Aphrodite Hills. To discuss your requirements, current availability and pricing simply enquire now and we will be happy to assist you in purchasing a home at Aphrodite Hills, Cyprus.

Mortgages

Mortgages are available from the Bank of Cyprus, and other institutions, using the property in Cyprus as security.

A rough guide to the mortgage schemes:

  • Generally a loan of up to 60% (subject to status).
  • Maximum duration of up to 30 years. Minimum 8 years. Upper age 65.
  • Maximum loan up to €1,000.000 for purchase of holiday home.
  • Bank arrangement fees .50% on loan amount. Documentation fees €75.
  • Lending fees: Eurobor + 4.25%.

(Mortgage terms vary according to the status of the borrower – this is a rough guide only.)

Stamp Duty

Charged at .15% from €5,000 – €170,000 and at 0.2% thereafter, with a cap of €20,000. This is charged on property purchase and payable within 30 days of signing.

(Inheritance Tax is not imposed).

Financial Incentives from the Cypriot Government to Buyers of New Properties

The Cypriot Government has introduced a framework of investment and business incentives to develop economic growth and encourage international investment to the country.

These incentives include:

  • Reduced VAT for new properties; first time buyers of new properties will be eligible to be charged at 5% VAT on the value of the purchase instead of the normal rate of 19% VAT. Total covered area not more than 327m² – VAT 5% for the first 200m² and 19% for the remaining area of up to 75m at 52m is deductible. Properties over 327m² attract 19% VAT.
  • No transfer fees / registration fees; buyers of new properties who are charged with VAT and purchased prior to 31/12/2016 will be exempt from paying any transfer / registration fees at the time of the transfer and registration of the property in their name.
  • No capital gains tax for new properties; buyers of new properties who are charged with VAT and purchased prior to 31/12/2016 will be exempt from any capital gains tax at the time of the sale of the property at any time in the future.

(These incentives are expected to continue into 2017.)

Cypriot Citizenship for Property Investors

General Requirements:

In order to be eligible to obtain Cypriot Citizenship, a non-Cypriot citizen may opt to invest either individually (directly or through company ownership) by investing a minimum of €2 million in any one of the investment areas listed below:

  • Investment in real estate of at least €2 million including one property for permanent residence, of at least €500,000..
  • Participation in Cyprus companies: the applicant must be the shareholder or the ultimate beneficial owner of a company (or companies) based in Cyprus and the management of which must be situated in Cyprus. The company must employ at least 5 Cypriot or European citizens.
  • Investment in Alternative Investment Organisations or in assets of Cypriot Companies: the applicant must invest €2 million in Alternative Investment Organisations licensed by CySec or in the assets of Cyprus companies.
  • Combination of the above (+ bonds): the applicant must invest in a combination of the above options and in addition, under the combination option, may invest in government bonds for the amount up to €500,000.

(Numbers 2 – 4 inc, plus €500,000 residency, making an investment of €2.5M).

Benefits of Cypriot Citizenship

  • No residency requirement.
  • Right to work and live in 28 European Countries.
  • Dual Citizenship allowed.
  • Passports issued six months after Permanent Residency granted.

Government Fees for Citizenship Application

  • Investor pays €2,000 at the time of submission and €5,000 on approval.
  • Spouse pays €2,000 at the time of submission and €5,000 on approval.
  • Adult child (up to 28 in 1st degree education) pays €2,000 at the time of submission and €5,000 on approval.
  • Minor children €80 at the time of submission. No approval fee.

Example Cost: Husband, wife, one adult child and one minor child pay a total of €21,080.

Permanent Residency (without Citizenship application)

  • The applicant must prove that he/she has at her disposal a secured minimum annual income of at least €30,000 and a further €5,000 for each dependent person.
  • The acquisition of a property of a minimum market value of €300,000 – This has to be a new property (resales do not qualify).
  • The applicant must deposit a minimum amount of 30,000 with a Cyprus bank which must be held for a minimum of 3 years.
  • The applicant is required to visit Cyprus at least once every two years.

Applications take approximately 2 – 3 months for approval.

* Prices quoted are excluding VAT. Please speak to us today for more information.

Talk to a Consultant & Find out more about buying a new home aboard:

Paphos

Belonging to Gods and Goddesses of ancient Greece, Paphos is a hot tourist destination. Divided into two parts – Palaepaphos (Old Paphos) and the Nea or Kato Paphos (New Paphos) it has stunning beaches, historical museums and dynamic nightlife.

Aeneas Grand Villas, Aphrodite Hills, Cyprus

Properties at Aphrodite Hills are located in a series of villages within the resort. We are pleased to sell properties within Aeneas Grand Villas . The villages are within walking distance of the village square, and each has its own communal pool for residents and guests.

The Aeneas Grand Villas are a beautiful collection of just 8 luxury four bedroom villas situated in a elevated position overlooking the Mediterranean Sea, within easy walking distance of the resort’s facilities. The ultra-luxurious, detached villas are fully furnished to the highest standard and feature their own landscaped gardens and large private pools.

Every home at Aphrodite Hills is finished to uncompromising standards with impeccable attention to detail. The highest quality Italian style kitchen units, lavish Crema Royal Marble bathrooms and marble parquet floor features throughout.

  • Stunning estate with 5 star resort facilities
  • A variety of Apartments, Junior Villas and Villas
  • Full property management service on site
  • 18-hole championship standard golf course
  • Sea views
  • 24 hour security
  • Citizenship and Non Residency Programme available

Prices quoted are excluding VAT. Please speak to us today for more information.

Talk to a Consultant & Find out more about buying a new home aboard:

Talk to a Consultant

Talk to a Consultant & Find out more about buying a new home aboard:

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