Category Archives: Uncategorized

Famagusta to Finally Get its Golf Course

Famagusta could have its first golf course within three years, as the €100 mln Ayia Napa Forest Golf project is expected to get the green light from environmental authorities after being rejected four times over eco concerns.

The golf course is to be built on land owned by the Forestry Department.

Economic Benefits

The construction alone will create 500 local jobs. They came in contact with one of the world’s largest golf course design companies to create a course of international standards, which will attract not only tourists but professional golfing events all year round. While the Famagusta region hosts approximately 40% of foreign tourists and approximately 50% of local visitors, it has the shortest occupancy season, as compared to the all-year destinations such as Limassol and to a lesser extent Paphos.

The golf course is expected to be completed at the end of 2023, coinciding with the conclusion of works on the two marina projects.

The area covered by the project, which is outside the “special protection zone”, is expected to be about 771,000 square metres, including the course, residential, commercial, and tourist development.“

The €100 mln project is to include an 18-hole golf course, a clubhouse, tourism, and commercial development and a 150-room five-star hotel and other residential developments including villas. The area around the golf course development will also benefit as many are now seizing the moment to invest in prime property around the location via the Cyprus Investment Program.

Date published: August 6, 2020

Luxury Lifestyle Award 2020 Winners

We are happy to announce that SkyPrime Villas, a member of SkyPrime Group, has been awarded the Luxury Lifestyle Award 2020 in the category of Best Luxury Villa Rental and Accommodation Services in Cyprus. SkyPrime Group is proud of the recognition received for the high quality and standard of the villas developed.

The Luxury Lifestyle Award is a prestigious global organisation that recognises and celebrates true luxury. The magazine focuses on awarding the best brands, services, and lifestyle events.

Luxurious Villas in Cyprus

SkyPrime Group has been recognised as going above and beyond when it comes to luxury projects. Villas are not developed with just anyone in mind but are tailored and designed as to the unique requirements of the buyer, ensuring a bespoke design. These top-quality villas are beautiful inside and outside as they are located in the most sought-after locations in Cyprus along the coast, seeping luxury into every aspect of the villa lifestyle with breath-taking Mediterranean Sea views.

Here are some examples of our award-winning projects:

Sunset Residences

These 6-bedroom villas on four levels with elevator are known as Sunset Residences. The villas directly overlook a secluded sandy cove, a well-kept secret among the residents of this idyllic corner of the island.

Vivo Mare

This project features only 9 beachfront villas set in a private and natural environment directly on the seafront. The project is located just 2km from the centre of Ayia Napa so that its possible to enjoy everyday amenities on the one hand and enjoy retreating to the villa to enjoy peaceful bliss on the other.

Cove Residences

6 luxurious villas make up the project of Cove Residences. These stunning top-quality villas are located in one of the most sought-after coastal locations on the island of Cyprus between Ayia Napa and the naturally beautiful Cape Greco.

Date published: July 27, 2020

The 12 Best Wines of Cyprus

Cyprus wines are considered one of the most ancient ones in the world. Their production started in 2000 BC. Today there is not a single Cypriot wine that would be known better than Commandaria – a sweet dessert wine, which is considered to be one of the oldest wines in the world. Commandaria is a variety of large grapes that grow on the southern slopes of the Troodos. Being collected among the latest ones in the harvesting season, it gets dry in the sun, which increases the content of sugar.

Vineyards in Cyprus are mainly concentrated in two areas: in the area of Paphos and on the southern slopes of the Troodos. Cyprus has its own indigenous grape varieties, predominantly Xinisteri for white and Mavro and Maratheftiko for red. But there are also a host of lesser-known indigenous varieties. Spourtiko in white and Ofthalmo in red, for example.

So, summing up, here is our selection of 12 best Cyprus Wines:

  • Ayia Mavri Moshato
  • Kolios Shiraz
  • Kolios ‘Persefoni’ Xinisteri
  • Erimoudes Constantino
  • Aes Ambelis Maratheftiko blend on a par with Makkas Maratheftiko
  • Vouni  Panayia ‘Alina Medium dry’  Xinisteri
  • Constantinou Ayio Klima Xinisteri
  • Tsangarides  Mataro
  • Christoudias Spourtiko
  • Dafermou Rosé and
  • Vlassides Sauvignon Blanc and of course
  • The ‘Anama Concept’ Commandaria.

Wine Tasting in Cyprus

With such a variety and high quality of wines, Cyprus is able to create wine tasting experiences in the heart of the stunning mountains. The immersive experiences attract locals and foreigners who can really grasp the essence and history of Cyprus wines while also soaking up nature and traditional villages.

Wine tasting can be taken a step further with some establishments offering food pairings along with wine, presenting the very best of Cypriot flavours, cuisine, and culture to create a blissful day out.

With guaranteed tourism the opportunity to invest arrises with many benefiting from the Cyprus Investment Program.

 

Date published: July 14, 2020

Benefits of a Cyprus Passport

Back in 2013, the government of Cyprus launched the Cyprus Investment Program. The program’s purpose was to grant Cypriot passports to those who invest a certain amount of money in real estate. Since then, the program has proved to be popular due to the many benefits a Cyprus passport provides.

infographic cyprus citizenship

  • Multiple Citizenships allowed
  • Passport granted in just 6 months
  • No language requirement
  • No minimum physical residency prior to getting a Cypriot passport
  • One-time visit required for biometrics
  • Valid for life and transferable to descendants
  • Rights of an EU Citizen
  • All Nationalities eligible

The main benefits of a obtaining a Cyprus Passport include the following:

Freedom of Movement

Cyprus has been a member of the European Union since 2004 resulting in an array of benefits including visa-free access to 173 countries around the world. Now more than ever, free movement is vital to provide safety, opportunities and stability to one’s self and family. A Cyprus passport provides the benefit of freely traveling to enrich life and the opportunity to live and settle in other EU countries.

Quality of Life

Cyprus provides a high standard of living and quality of life. Famous for its hospitality and friendly locals, the people of Cyprus respect and lead a perfect life balance between work and leisure, always taking the time to chat over a coffee. The friendly nature is paired with a low crime rate, making Cyprus a safe location to raise a family, with plenty of sunshine, outdoor activities, and a healthy Mediterranean diet.

Although a small island, Cyprus has a variety of cities that suit many different lifestyles. From beautiful seaside towns and quiet mountain villages to bustling international capital cities and luxurious business centres, Cyprus has something for everyone.

Business Opportunities

Business in Cyprus continues to grow and develop, creating an abundance of opportunities allowing for the diversification of sectors to create a strong well-rounded economy. The country boasts a flourishing shipping sector with the country’s advanced maritime infrastructure rated the 3rd largest merchant fleet in the EU. The island features the ideal environment for start-ups and innovation. This is due to a highly talented workforce and incentives such as applied research via EU or national funding. Companies also benefit from the low cost of launching and running a business in Cyprus as well as from the possibility of free trade (free movement of capital, goods and services) within the EU.

International businesses are drawn to the island and benefit form the international workforce on the island with the majority speaking a high level of English along with some speaking extra languages such as Russian and Chinese.

Investment Opportunity

Five years after the original investment was made, the investor is allowed to sell up to 75% of the real estate initially acquired in order to qualify for the program. Taking into account that staying in Cyprus isn’t required in order to benefit from the program, that any properties purchased may be rented, as well as due to the capital appreciation over a 5-year period, the investor is essentially getting their money back.

Favourable Tax

Cyprus has concluded double taxation agreements with over 60 countries around the world, eliminating any double taxation of citizens with dual nationality. Furthermore, the procedures for registering a company with the relevant authorities in Cyprus, can be completed within approximately just 4-5 working days and at a low cost. As a result, international businesses operating in the region, often choose Cyprus as a base and include it in their tax-structuring plans.

To top everything up, Cyprus has zero inheritance, wealth, gift and immovable property taxes.

Education

Cyprus boasts a high level of local education in various languages with a number of highly acclaimed international universities. For those who wish to venture further, youths with a Cyprus passport are entitled to apply to any state schools, colleges and universities in any other EU member country, and if they qualify, they will enjoy the same rights and privileges as the citizens of that particular country. Studying abroad is an enriching life experience that will pave the way for your children’s future career.

Healthcare

Cyprus follows and implements EU laws and safe practicing when it comes to health care. The island has recently launched a new healthcare model on the island called GeSY. It is described as ‘a comprehensive and financially sustainable healthcare system aiming at meeting the expectations of Cypriot citizens for equal access to treatment and provision of high-quality healthcare by using, in the best possible way, all available medical resources’.

Along with its own advanced health care system, a Cyprus passport grands access to the best medicines and treatments Europe has to offer.

Citizenship for the whole family

Cyprus citizenship can be extended to an investor’s family. The spouse of the applicant and children under 18 years old or adults financially dependent on the applicant (university students – up to 28 years old) are eligible to apply for citizenship. Investor’s parents are also entitled to apply for citizenship provided they are owners of a Cyprus residential property worth at least €500.000.

Location

Throughout history, Cyprus has been a steppingstone between Europe and Asia, Middle East and Africa. In today’s world, Cyprus has become the ideal gateway for business activities and investments within the regions of the European Union, Eastern Europe, Russia, CIS, the Middle East and Africa. With no capital city too far away, travel for business, education, healthcare or pleasure is always short, pleasant and easy.

 

Date published: June 25, 2020

Top 4 Foods to Try in Cyprus

The food of Cyprus is truly unique! Of course, it’s heavily based on traditional Greek cuisine, but there’s also a strong Middle Eastern influence which brings a particularly special flavor to Cypriot dishes. There are many traditional meals eaten on the island, with recipes that have been perfected over the centuries. Here are 4 foods we think you really must try when you’re in Cyprus.
 

Koupepia

dolmades-koupepia
Koupepia is a traditional favorite among the villages of Cyprus and consists of fresh vine leaves with a delicious filling made of minced meat, rice, onions and tomatoes, flavored with a blend of herbs. You must try this dish in Cyprus, but it’s also a good one to make when you get back home. Not only will it bring back those holiday memories, but it’s also a really good meal to cook in bulk and freeze.

Souvlakia and sheftalia

souvlakia-sheftalia
If you’ve ever tried the Greek version of this dish, you’ll find the Cyprus version a little different. The dish includes tasty chunks of meat cooked on a skewer, presented along with fresh salad and served up in large, thin pitta bread. This is often accompanied by sheftalia, a spicy parcel of grilled sausage meat.

Halloumi

halloumi
While some of these Cyprus delicacies you may not have heard of, you’ve probably heard of Halloumi, the famous cheese that’s only made in Cyprus. Using a blend of goat’s milk and sheep milk, this delicious and versatile cheese has a rubbery texture and a salty flavour. It’s beautiful grilled and delicious served cold too.

Makaronia tou fournou

makaronia-tou-fournou
This hearty dish may remind you of lasagne but also mac n’ cheese. It’s made with pasta tubes, bechamel sauce, a tomato infused pork mincemeat, and of course lots of local halloumi cheese.

So next time you visit Cyprus, be sure to try these dishes and see which you love the most. On your culinary journey, you’re bound to discover even more delicious gems to savor. Cyprus truly is the perfect destination for a gastronomic holiday!

Enjoy these delicious treats daily by becoming a permanent citizen of Cyprus on this beautiful Mediterranean island! Find out more about buying a property in Ayia Napa with SkyPrime Group and experience the beauty of the area every single day.

 

Date published: June 11, 2020

Second Passport: Why Cyprus?

For High Net Worth Individuals, the ability to obtain a second passport is more popular than ever.

Many people are keen to obtain a second passport on professional or personal grounds. Having an easier and safer lifestyle to raise a family, good weather, a stable economy, a professional infrastructure with global access, enhanced business opportunities and friendly taxation systems are usually some of the reasons to do so. Furthermore, possessing a European passport opens the door to easier travel.

Covid19 has made the need more current than ever due to the geopolitical changes it has and will bring along with it over the next months and years.

Due to the challenges and uncertainty, they found themselves into during the 2020’s first quarter, many discerned individuals have realised that now is the time to proceed with adding a ‘plan b’ or ‘plan c’ in the mix. Successful investors plan with long term goals in mind keenly anticipating where to invest money so the question is why chose Cyprus for a second passport? In addition, following COVID19’s aftermath, will investing within the real estate market in Cyprus be a sound choice?

Future of the Cyprus Real Estate Market

The Cyprus government has introduced a financial aid package to boost and optimize the economy under the latest developments. The package has an estimated value of 1.5 billion euros, 7% GDP with the real estate and development sectors benefiting the most. The support of the government will keep these sectors strong and ready for a predicted bounce back in 2021. Following the end of the restrictions, it is expected that many will be keen to visit Cyprus creating an increase in the need for holiday accommodation that will greatly benefit the real estate market.

Are there any more reasons to why an increasing number of High Net Worth individuals chose to acquire a Cyprus passport?

More Than a Passport

Cyprus offers one of the most desirable passports on the planet right now.

The country features a strong economy with a high return of investment. Cyprus has a very well developed and internationally established legal and financial system based on the robust British model. Furthermore, the majority of businesses and people on the island use English. This fact makes Cyprus ideal as a location for international businesses, not to mention its advantageously central location between Europe, Africa and Asia with no major city too far.

European Access more Vital now than Ever Before

Cyprus is also a member of the EU thus opening the way to the EU market, travel, education, rights and healthcare. To top it all off, Cyprus benefits from favourable taxation that is ideal for high net worth individuals.

It is clear that on business and professional grounds, Cyprus is a strong contender among prospect locations at which to acquire a second passport, but the aspect that pushes it above the rest is the quality of life on offer. Cypriot living is unique, with beautiful locations – from sea to mountains, from local cafes to cosmopolitan cities – Cyprus has it all. World-class healthcare is also provided. A Cyprus passport will not only provide you with a convenient lifestyle but with a safe environment to have a family in as well.

Cyprus offers a location for everyone – whether it’s in the peaceful mountains, the charming old streets of Nicosia, the city life in Limassol or seaside living in Larnaca – you can benefit from the Mediterranean lifestyle. Due to Cyprus’ size, it is possible to experience the variety in just one day with the majority of cities no further that 1 to 2 hours’ drive.

Ayia Napa Cyprus

For those who enjoy quiet, natural and peaceful surroundings but the convenience of shops, restaurants, bars and other amenities nearby, Ayia Napa in Cyprus is an ideal location. This Mediterranean town on the southeast cost of Cyprus is known for its natural beauty and blue flag beaches. Here, it is possible to create your own private haven.

Despite the privacy, the location provides the benefit of being able to dip in and out of city life as and when you wish. Ayia Napa also benefits by being close to the island’s main international airport located just 30 minutes away, providing easy, trouble-free access to frequent travellers. Future developments such as the Ayia Napa Marina will provide luxury shopping, dining and high-class establishments that residents and tourists will be drawn to.

When selecting property in Ayia Napa, a wide variety is available from a range of prices but for those who plan to gain a Cypriot Passport, it is ideal to invest in luxury property to meet the program’s requirements. As a leading luxury property expert, we at SkyPrime Group, design and develop stunning properties to fulfil the need of this niche market, specialising in seafront villas in the most sought-after areas of Ayia Napa.

Here at SkyPrime Group our team of experts is thoroughly equipped in dealing with high net worth individuals who are keen to take part and make the most of Cyprus’ Investment Program. The team is specialized to handle everything required to participate in the program from A to Z for a seamless and trouble-free experience.

Look far into the future; imagine yourself in a luxurious seafront villa by the tranquil waters of the Mediterranean Sea, in an Island with guaranteed sunshine, friendly locals, the most amazing and healthy gastronomic variety and an abundance of personal and professional benefits. Cyprus offers much more than just a second passport; Cyprus offers an elevated lifestyle.

Date published: May 12, 2020

Cyprus is Among the 30 Safest Countries in the World Amidst the Global Covid-19 Pandemic

The global pandemic of Covid-19 has forced countries and their governments across the world to demonstrate the efficiency of national response and the ways through which states are organized, and how they can best maximize health and help communities respond fast and efficient to crises. A recent article published in Forbes explains in great detail how data collected from the pandemic is interpret to assess decision making, the viability of states to respond speedily and with decisiveness; the research, generated by Deep Knowledge Ventures, is extremely important when making informed business decisions and helping communities resume their entrepreneurial activity.

In Eurozone, Cyprus ranks 14th from a total of 33 countries, an impressive ranking.

Date published: April 30, 2020

Cyprus Real Estate Remains Resilient

Originating in China, recent months have seen coronavirus spreading globally with the World Health Organisation declaring a pandemic. As the virus grips Europe and the World, many wonder what will be the outcome for Cyprus and its economy. Those involved in real estate, either buying, selling or developing wonder how the effects of the virus will impact the sector.

Prior to the outbreak, Cyprus boasted a booming real estate sector with local and foreign investments. The real estate sector was set to have another successful year, but what is the outlook now?

Backed by a pre-existing strong economy and paired with government aids and precautions the Cyprus real estate sector will remain ever-resilient in this period. How so?

Financial Stimulus for Business

Cyprus has previously proven resilient in times of difficulty with the economy emerging stronger than ever before. Due to this strong economy, the government of Cyprus is capable of providing funds to support businesses and workers without moving finances from another area or incurring debt. The finance ministry is working and finalising on an economic support package which is said to amount to 1.5 billion euros, 7% GDP. This figure is separate from any support or schemes that may be available from the European Union.

Finance Minister Mr. Constantinos Petrides commented “I am convinced that we will succeed…as I have said….we have had more difficult times”

Mr. Petrides added “The government will support the economy, support the workers and support the businesses with concrete and practical measures”

As mentioned above, the package will aim to support businesses, entrepreneurs, and employees through subsidies and will also involve tax-breaks and grants through different ministries. With this support in place and a community spirit among locals, the people and businesses of Cyprus are prepared to not only get through this period of difficulty but to come out stronger than before.

Strong Investment Program

Cyprus has a long-standing competitive investment program that continually supports economic growth, investment, and real estate development. The program allows those who invest 2 million euros into Cyprus real estate to gain a Cypriot passport. This program has and will continue to play a role in providing significant funds for the economy that in turn provide benefits for the country overall.

People are drawn to the Cyprus Investment Program for various reasons. One of the many beneficial factors is the favourable tax system and the low cost of running a business in Cyprus.

Following the worldwide economic effects of the coronavirus, this benefit will be even more widely sought after by those looking to relocate or set up a business. Due to this, Cyprus expects to see a steady, if not growing number of applicants during and following this period of the pandemic. The flow of applicants will result in continual construction and the possibility of new businesses in Cyprus that create more job opportunities for the international workforce that the island boasts.

Future of the Real Estate Sector in Cyprus

As the global pandemic continues it is expected that the predicted growth for this year will unavoidably be affected. However, due to Cyprus’ existing strong economy and swift government measures, the extent of the effect can be successfully limited.

Following the end of restrictions on travel, the tourism sector will most likely greatly benefit by those who will be eager to travel and rebook holidays to the island.  SkyPrime will be committed to meeting the heightened demand for accommodation by offering a variety of luxury seafront villas that are ideal to purchase in view of letting out to holidaymakers.

With the expected bounce-back of the tourism sector and a steady investment program, the real estate sector is capable and prepared to emerge stronger than ever, following this period, as the case proved to be during many crises before.

Date published: March 30, 2020

8 Growing Sectors in Cyprus

Cyprus continues to be a thriving island with a number of strong sectors. As sectors thrive Cyprus takes the opportunity to diversify and develop other areas that benefit the island and economy as a whole, below are some noteworthy sectors that are growing.

Shipping

Cyprus has a natural strategic location that has allowed for a flourishing shipping sector offering attractive legislation and operational shipping infrastructure. Cyprus has also been successful in providing tax framework and communication networks that offer competitive advantages. So much so that Cyprus is now known as one of the most reliable and competitive shipping centres in the world regarding services, registration fees and taxes. Cyprus advanced maritime infrastructure is the 3rd largest merchant fleet in the EU.

Real Estate

The sector of real estate in Cyprus continues to grow stronger every year. The island of Cyprus attracts international investment with many worldwide looking to make Cyprus their home. This is due to a number of factors such as the quality of life, sunshine, business opportunities and the Cyprus Investment Program. The past few years have seen an increase in sales and building permits and landmark residential/commercial projects.

Education

The island attracts thousands of international students every year due to the world-class education on offer with advanced research and state of the art infrastructure. Enjoyed by locals as well Cyprus offers a variety of advanced and fully accredited undergraduate and postgraduate programs. 3 public and 5 private universities are available alongside 40 public and private higher education facilities. Education is offered in a variety of languages with close cooperation with universities from the UK, Germany and the US.

Tourism & Hospitality

Cyprus is extending its holiday season and is now known as a year-round destination with hot summers and mild winters. Tourism infrastructure reflects the increase in demand for tourism on the island with the country upgrading and developing new infrastructure. Large scale projects are in place such as luxury resorts, marinas, casinos, and improved residences. Cyprus also has the highest number of blue flag beaches per capita in the EU, it is no wonder why each year tourism records are broken.

Investment Funds

In Europe, Cyprus is quickly emerging as one of the top locations for foreign direct investment. Providing unique access to high growth markets and continual upgrading of legislative and regulatory regime Cyprus continues to attract investment. A range of tax benefits is available for investor fund managers paired with low set up and costs.

Energy

Cyprus has recently discovered hydrocarbons which have opened the door to significant worldwide investment from leading energy giants and renowned international providers operating in oil and gas. EP contracts have been granted to ExxonMobil, Shell, Total, ENI, Noble Energy, Delek, KOGAS and Qatar Petroleum. These companies have created new job prospects as well as funding, transforming Cyprus into a fuel hub that operates sophisticated oil storage terminals, the first of its kind in the Eastern Mediterranean.

Start-ups & Innovation

Innovation research is rapidly growing as Cyprus is recognised as the perfect location to start and scale companies. This is due to a highly talented workforce and incentives such as applied research via EU or national funding. Companies also benefit from the low cost of launching and running a business in Cyprus as well as strong ICT and innovative ecosystems on offer.

Filming

Cyprus is also diversifying sectors by promoting the island for filming. Film crews have already been attracted to the island and recognise it as an ideal location. Cyprus is close to many major countries and has short internal distances, this paired with reliable weather makes the country ideal. Cyprus is now providing tax incentives to continue international interest from the film industry. Production companies that choose to film in Cyprus will be able to choose between a cash rebate or tax credit and can also benefit from tax discounts on investments made on equipment and infrastructure.

Date published: February 27, 2020

US Visa Will Soon No Longer be Required for Cypriots

A working group has been formed to expedite procedures for canceling visas for Cypriot passport holders who wish to travel to the United States.

Three Cypriot ministers have held a joint meeting with the Assistant Secretary of State for Consular Affairs Mr. Carl Risch, to strengthen the cooperation between Cyprus and the United States of America in this respect.

In particular, the progress made in joining Cyprus to the list of countries whose citizens do not need a visa to enter the United States (Visa-Free Visa Program) was examined, and it was decided to immediately create a group consisting of competent representatives from both governments for further actions.

In a statement, the foreign minister commented on the group that will “speed up efforts aimed at bringing the process [joining the VWP] to fruition as soon as possible”.

The US Visa Waiver Program enables countries who are approved to travel to the US for tourism and business for 90 days or less without obtaining a visa.

US & Cyprus Relationship

This progress towards a Visa-Free Program is another step towards the US and Cyprus close relationship. Following the discovery of natural gas in the Eastern Mediterranean the US continues to have deep involvement and collaboration with Cyprus in the Cyprus reunification talks. The Texas-based Nobel Energy and American ExxonMobil are some of the major international oil companies that have secured exploration rights in Cypriot waters.

As work between the US & Cyprus will go forward into the foreseeable future and progress on US visas no longer being required for Cypriots continue, the countries’ bonds are set to become stronger.

Date published: February 13, 2020