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RED House Cyprus


 

Overview

The Cyprus’ strategic location for clients operating within Europe and the Middle East, its excellent climate, the well developed infrastructure and the plentiful supply of highly qualified and skilled human capital are some of the advantages that placed Cyprus on the map as a successful business centre. In addition its public administration system and defined legal framework have contributed in developing high standard professional services in all areas of business activity – the accounting, the banking, the legal and the tourism sectors.

 

 

Cyprus and the EU

The Republic of Cyprus is a member of the European Union as from 1 May 2004. The accession of Cyprus in the EU and the adoption of the acquis communautaire have given rise to new challenges and opportunities in the business world in Cyprus. Moreover a number of new funding opportunities became available from EU funds aiming mainly to support the development of business activities in the area of manufacturing, agriculture and agro tourism as well as the promotion of human resource development and the development of the rural areas of the island.

Cyprus has entered the European Exchange Mechanism (ERMII) on 2 May 2005 as a first step towards the adoption of the Euro as the official currency on 1 January 2008.

 

 

Foreign Investment

Cyprus is an attractive place for investment. The strategic location of the island, its excellent climate, the well-developed infrastructure and the plentiful supply of high quality, well trained labor are some of the advantages Cyprus has to offer. In addition to these, the favorable tax regime and the availability of a free zone area, make Cyprus an ideal location for manufacturers, especially those with Middle East/North African export activities.

As a consequence of the Government’s general policy of non-intervention in business operations and as part of the process of adopting EU regulations, a new investment law was passed in July 2003 by the House of Representatives. The official government policy is welcoming to foreign investment provided that this does not have adverse environmental effects.

 

 

Property Investment Market

The Republic of Cyprus is an exciting country for property investors and one which already offers fantastic capital growth and rental yields and which is likely to see improvements in these two profit areas over the medium term as Cyprus aligns itself for adoption of the Euro in 2008.

Furthermore an investor has an exceptionally strong year round tourist market to focus on as well as a growing second home market and a well established retirement market offering the right amount and type of investment diversity in one country that an investor requires when building a successful portfolio.

 

Since Cyprus joined the European Union in 2004 it has enjoyed a period of significant investment which has boosted the country’s economy and improved the infrastructure, education and healthcare services available in Cyprus.  The economy in Cyprus grew by 3.8% in 2005 – well above the European Union average.  More international businesses particularly in the fields of finance have established regional bases in Cyprus and all this inward flow of financial assistance and investment has helped make Cyprus into an even more attractive country for tourists, expatriates and retirees who are already attracted to the island’s perfect climate and stunning natural beauty.

 

 

Retirement and Second or Holiday Home Market

The other market sector that an investor could target is the growing full time retirement market attracted to the island because Cyprus is relatively tax friendly- pension income is only taxed at 5% for example and there is no inheritance tax on all estate property all over the world for permanent residents of Cyprus apparently, has a fairly low cost of living, a perfect climate, excellent and affordable healthcare facilities and is almost as popular with retiree escapees as Spain and yet property for sale in Cyprus is at least 30% cheaper than the majority of properties in Spain’s most popular regions.  Therefore the retirement and second or holiday home markets offer an investor a way to resell to release capital growth.

 

 

RED House Cyprus  

RED House Cyprus (Real Estates Development House Cyprus Limited) was established in 2009 in Nicosia. RED House Group, headquartered in Beirut Lebanon, evisaged a strategic setup in Cyprus for its central geographic location, being at the crossroad of three continents, the nearest EU country to the Middle East and The Arab World and the imperative potentials of the Real Estates Investment and Development Sectors.  

Since then, RED House Cyprus initiated a notable operation in the Cypriot Market; founding its strategic network of business partnership with the leading Cypriot firms as Paraskevaides Group, J&P and D. Zavos Group

 

REDhouse 

REDHouse

EP Global

J& P Contracting

D. Zavos Group

 

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