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Limassol | The Investment Hub of Cyprus

January 30, 2020by Winstonfield

Limassol is the second largest city in Cyprus and one of the most important tourism, trading and service providing centers of the island.

It is a well – known business hub for real estate investments, offshore companies, Forex trading and shipping activities.

In fact, the island is considered to be a business getaway between Asia, Europe, Middle East and Africa with highly educated English-speaking population and a very strong professional service and real estate sector.

There are many factors contributing in the above-mentioned acknowledgement such as:

Oil & Gas

The recent discovery of natural gas and its exploration in Limassol area, has dramatically increased the interest of foreign investors. The Oil & Gas energy industry is considered to be a very promising income contributing source on the island’s economy, since Cyprus Governmental Authorities are planning to export it to East-Asian markets and Europe. In addition, the presence and strong interest of major oil and gas giants has strengthened the credibility of Cyprus in the international oil and gas industry.

Shipping Industry

According to Cyprus Shipping Chambers, Cyprus marine industry is the 3rd largest in Europe and 11th largest in the world, with more than 1,000 ocean-going vessels, totalling 21-million gross ton. The vast majority of the World’s biggest shipping companies have their headquarters based in Limassol.

It is noteworthy to mention that, the Cyprus Governmental Authorities are strongly encouraging the growth and development of the maritime industry by offering major advantages, such as EU – approved Tonnage Tax System (TTS) and many more. Additionally, there are number of dedicated maritime institutes for training, education, research, innovation and sustainability.

Forex Trading 

Limassol is also considered as one of the top Forex centres in the island, with over 250 regulated Cyprus Investment Firms listed by CySEC. Most of those legal entities are foreign owned. There are lots of factors that contributed to this success, for instance the 12.5% corporate tax, the strict regulatory framework they operate in, which adds value to their services’ credibility.

Tourism Industry

Tourism Industry is one of the largest economic sectors of the island and is constantly upgrading, strengthening and improving its competitiveness in the foreign markets, with continuous investments i.e. marinas, casinos and luxury resorts construction etc.

By investing in Limassol’s property, you will inevitably gain capital appreciation on your property due to the upcoming trend of the real estate industry.

Real Estate Industry

Limassol’s real estate sector has a leading role in the economic growth of Cyprus, counting over 1 billion euro in real estate investment projects from 2017 – 2019.

For instance, one of the most promising new developments in Limassol, is the integrated luxury resort casino called “City of Dreams Mediterranean” with its completion expected in 2021.

This world class development is the only one of its kind in Europe.

According to the presentation of the Consortium Integrated Casino Resorts Cyprus (ICRC) forecast, this project is expected to attract 300k tourists per year. Upon its completion, the resort will provide over 4k new jobs and will contribute to Cyprus economy, on average, 425-million-euro on an annual basis.  It is estimated that this pioneer project, will dramatically change the tourism industry in the whole Europe and advance Limassol’s real estate value even more.

Also, another large-scale investment project is expected in the next few years in between Asomatos and Limassol with proximity to casino resort.  This new project will be comprised of residential units, a resort and extensive golf course, with an estimated value of 350 million euro.

At the same time, Limassol offers a vibrant life, with blue flag awarded beaches and a coastal line extended over 17km.

 

Limassol is the city that merges business and pleasure and offers a variety of options according to your mood and personal preferences.

There are plenty of sites and activities to enjoy such as Casinos, Resorts, sporting and cultural events, shopping, spa and wellness and many more.

By investing in Limassol’s property, you will inevitably gain capital appreciation on your property due to the upcoming trend of the real estate industry.

What is more, the Real estate market in Limassol is booming.  There are many attractive opportunities in real estate commercial and residential units, that promise secure initial capital, excellent ROI and capital appreciation.

Nowadays, overseas investors express a lot of interest in investing in real estate properties, which can simultaneously qualify them to apply for the Cyprus Investment Program.

Taking everything into consideration, Limassol has all the necessary elements to be acknowledged as a competitive, attractive and friendly foreign investment city, that is worth looking into.

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