North Cyprus: It may be a little known fact that this was a period that the High Net Worth investors would consider a hidden Gem.
Author:
Y. Demirkent
Category:
Investment
While many people associate Cyprus with its southern part, North Cyprus is gradually gaining recognition as a place where HNWI can indeed find all the aforementioned components, as well as stable business investment opportunities. This relatively unknown Mediterranean country provides a exquisite scenery, business friendly taxation and a rapidly emerging property market making it ideal for the high net worth individual. Nowadays, more and more people look for new opportunities to invest and generate large amounts of profit In this article, this is why North Cyprus should be on the investment list of every investor worth its salt.
Geographical Position and Environmental Advantage
They attribute another reason to consider North Cyprus to be their perfect location. Sitting in the sunshine of the eastern Mediterranean, North Cyprus has a climate that is warm, sunny, and consistently sunny with more than 300 days of sunshine per year. The coastal area is particularly famous for splendid sandy beaches and crystal clear sea along with rich and green sceneries. Investors’ interest in these assets is attributed to the natural beauty of the locations that they desire to own.
The coast is lined with white sandy beaches and hidden bays, and all this makes it free from the noise of the big city. The coastal areas such as Kyrenia, Famagusta, and Bogaz provide serene nature for lavish villas and exclusive resorts. These are qualitative features thus; the beautiful and quiet nature afford the right setting for luxury and comfort living.
Favorable Tax Environment
The North Cyprus is rather welcoming in terms of taxes for individuals with high net worth. As for the tax regulations, the main principle here is to attract foreign investment and the following several facilities that are financially profitable to invest in this region. Non-residents do not pay capital gains tax, and property taxes are considerably low than most of the countries in Europe. This favorable tax environment suits the investors since they can maximize on their gains while being shielded from huge bills.
In addition, it was established that the North Cyprus has no special law on inheritance tax whereby people transfer their wealth to heirs without much heft taxes being charged. At 15%, the corporate tax rate is also considered to be very attractive to business owners and entrepreneurs who will form new businesses and invest in the area.
Growing Real Estate Market
North Cyprus real estate market is growing at a very fast rate because of the increasing demand of property by both residents and foreigners. The growth is specially witnessed in luxurious housing segment where here in Solmaris different new dimensions of luxurious and elitist living are being created. They are attracted with the prospects of getting high return on investment and the bidding opportunity of owning what they consider as luxury houses.
Some of the features commonly found in North Cyprus luxury buildings include; modern and aesthetic architectural design, quality construction and the full complement services. Spacious houses with personal swimming pool and with features like beach, sea, mountain, garden, and ocean view are some of the reasons that make people invest in some of the compounds. The following are some reasons why North Cyprus is an investment opportunity of interest: There is a growing market and the presence of niche products which implies that the investors are able to find a balance between investing in the growing market and the expensive part of it, hence it is a good area of interest for investment.
Lifestyle and Amenities
Lack of high competition and targeted client base create extraordinary environment that is suitable for successful, high net worth citizen of North Cyprus. This area is popular for marina and yatching and there are good facilities for yachts and sailing in this area. Mears such as Solmaris in close proximity to the marina in Bogaz, Iskele give the individuals immediate link of the Mediterranean Sea and numerous forms of leisure.
Eating out is also another aspect of life in North Cyprus with a variety of restaurants serving quality meals and excellent dishes. Capitalizing on food, the dining scene here is very diverse ranging from traditional Cypriot recipes to the international dishes. Furthermore, the social history of the region is interesting; many archaeological sites, monuments, museums and cultural events are grouped in the region.
Concerning the matters of health and fitness, the offered facilities also speak for the house: Beauty treatments, gym facilities and wellness has been provided to enhance a healthy living and annual health checks are carried out for members. They are facilities that offer extensive opportunities for hiking, golfing and water sports and game thus giving the active members of the society full occupational chance.
Investment Opportunities and Residency
A means of getting residency in North Cyprus is through the purchase of high value premium properties such as the ones in Solmaris. The country has various programs for the foreign investors where they can gain the residency permits and have the opportunity to live in the beautiful Mediterranean area. This can be especially pronounced in clients with high net worth looking for safety and an appropriate environment for their households.
Living in North Cyprus gives an opportunity to receive primary health care, education, and political stability. The place is recalled as being safe and free of crime and this becomes a good place for the families to live in. Expenses in comparison to other countries in Europe remain considerably low, and this makes many places a good value.
Infrastructure and Connectivity
North Cyprus modern facilities and good communication network are excellent for residents and investors in this area. The region has a Ercan International Airport through which there are scheduled flights to and from many cities in Turkey and other countries. accesses to different parts of the island is well enhanced by the solid road network thereby improving on mobility and accessibility.
Communication and internet services in North Cyprus are effective for the business people and tourists as their need for connectivity is fully met. Accessibility to innovation functions, superior services shrinks the quality of life and makes North Cyprus a superb place for wealthy people.
Sustainability And/Or Environmentally Friendly Policies & Procedures
It has also been noted that the perception of sustainability and environmentally friendly methods is also widely observed among the HNW investors. North Cyprus is applying all these principles through the use of sustainable development approach and introducing environmentally friendly measures. Ongoing large-scale properties such as Solmaris are incorporating the green building practices, the renewable energy and efficient landscapes in an effort to reduce their impacts on the environment.
Besides, the emphasis made on sustainability play an important role not only in the conservation of the most attractive views of North Cyprus but also in the growth of added values of investments. Eco-conscious wealthy clients and investors will see that North Cyprus becomes one of the places where they can invest in.
Conclusion
It can be equally stated that North Cyprus is a hidden gem for High Net Worth Investors, providing all the factors that HNW Investors seek while investing in an offshore country; luxury, scenic beauty, and an acceptable legal frame work for investment. The property markets in the region offer attractive investment opportunities through the favorable business and tax environments, a flourishing real estate market, and arguably the world’s best quality of life.
what can be presented as the best of North Cyprus that people can get the sense of a sophisticated, comfortable living in a gorgeous scenery that is proved by improvements like Solmaris. Whether it is with a view to buying a holiday home, or starting a business, or living the Mediterranean dream, it is a chance that offers both, profit as well as satisfaction.
North Cyprus is very special for the high net worth individuals because they see the possibility to gain material benefits and at the same time enjoy the perfect life. Since this little-known spot is gradually emerging from the shadow on the international arena, it is high time to study the potential it opens, as well as to join the ranks of the fast-developing Mediterranean success story.
