Why Invest in a Cyprus Property Main Reasons for Purchasing Property in Cyprus: The property market is one of the fastest growing in the EU. Prices are increasing by an average of 20% per annum. Property prices are still far lower than in many other European countries.  Increase in the number of golf properties available. Many more golf courses are now being promised on the Eastern side of Cyprus – Ayia Napa, Protaras, Larnaca  Comparatively low tax rate, including a Double Tax Treaty with the UK. Capital Gains Tax of only 20% and Corporation Tax for Cypriot limited companies (through which you can own your property) at only 10%.  UK pensions can be received tax free in Cyprus.  · Foreign residents permanently residing in Cyprus pay only a 5% flat rate of income tax.  340 days of sunshine a year make it a comfortable and enjoyable place to live.  High standard of living, with good facilities, including top class golf courses.  Low cost of living.  Comparatively low crime rate and friendly people. Criminal offences run at almost one-sixth of the European average  Excellent medical facilities. Healthcare standards are very high and most GPs and specialists are UK trained. UK education system in many schools and offshore business advantages.  Predicted growth in tourism over next 10 years by approximately 4.6%  British based legal system, with all English speaking solicitors  Advanced banking systems  Very efficient land registry with very simple procedures, similar to UK Systems.  A home away from home where it is mainly a greek culture, but the English language is widely spoken in shops, banks, restaurants, throughout the whole Island