Your Plan B – Best Option for Property, Residency and Emigration

Your Plan B – Best Option for Property, Residency and Emigration

BY JENNY ELLINAS

In this current social & politically ever-changing climate globally, the question is: “What is your Plan B?” A solid & secure investment for the future is an accumulation of what you’ve done your whole life – researching, planning and saving. It makes financial sense to critically evaluate your choice of location: purchasing in sought-after neighbourhoods, ensuring maintenance facilities and services are available; and being aware of the importance of landscaped gardens and play areas to contribute to a social lifestyle. Perhaps even more important considerations are the day-to-day aspects of living in another country: the schools, public transport systems, medical facilities, business opportunities and social services available.

With many countries offering seemingly attractive benefits to South Africans, the choice of where to invest whether for permanent residency, a holiday home, a place to retire or emigrate to; or even to set up a business can be daunting. The complexities of understanding the multitude of legal and tax implications coupled with language & cultural issues often makes even thinking about a “Plan B” a non-starter.

The list of advantages for choosing Cyprus over other English-speaking countries is extensive. Topping the list and where Cyprus comes up trumps is the permanent residency option open to non-EU citizens; Cyprus boasting having one of the lowest crime rates in the world; and the easy accessibility to Europe. The warm Mediterranean climate offers 320 days of sunshine a year together with the 1st-world lifestyle & a plethora of outdoor activities. This all adds up to an enviable quality of life. The fact that Cyprus has numerous 1st class English-medium education institutions (up to tertiary level), cutting-edge medical facilities and care and probably one of the healthiest climates in the Mediterranean only adds to the appeal and cements Cyprus as a “must-see” destination.

The discovery of natural gas in the seas that fall part of Cyprus’ Exclusive Economic Zone (EEZ) is particular significant because it is going to secure Cyprus’ strategic importance globally as well as generate enormous revenue for the country. The impact of this will ensure that not only will Cyprus’ energy requirements be taken care of for at least the next 200 years; but also Cyprus now becomes a supplier of energy to the Eurozone and other countries. There are 13 sectors in the EEZ that the Cypriot government mapped out in the Mediterranean, spanning southwards 165km from the edge of the island. When exploration started last year in the furthest sector south (sector 12), Noble Energy – the US-based firm awarded the contract to do the initial explorations – announced that this sector far exceeded their initial estimates of hydrocarbon gas. They expect this sector alone to generate over €100Bn of revenue to Cyprus.

Cyprus is the only English-speaking country in the EU currently offering affordable permanent residency to South African passport-holders on the purchase of a residential property. The opportunity to be able to acquire permanent residency in another country has huge appeal. Cyprus still offers this option through the purchase of a residential property, and a Cypriot permanent residency permit offers more than just access into an European country – there are some unique benefits and a lifestyle elements 2nd to none.

In Cyprus the lifestyle really is the best of the best. Living is laidback – you set your own pace. And what better place to do this, than where the blue skies meet the Mediterranean Sea: on the beautiful island of Cyprus.

Source: Cypriot Realty; Leptos Estates; Migronis Citizenship

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