North Cyprus increasingly becoming a booming business hub of all kind of trading,development and investment opportunities. If you are interested in starting a business or just a zeal of purchasing properties like houses,villas,apartments and other assets in Cyprus. Milano Homes Cyprus will lend you a very professional assistance.
The island got huge opportunities and many advantages for being as an intersection business hub in the Mediterranean region, which is a focal point to both member states of the European Union and Levant region. It is important to state that the island is rated as the 3rd most populous island and the 3rd largest island in the Mediterranean. There are many languages spoken on the island such as Greek, Turkish, English and others.
The economy of the island is said to be a high – income economy with very high Human Development Index. North Cyprus enjoys a prosperous and a diversified economy. Key contributors to the Gross Domestic Product (GDP) of the island are the Shipping industry, Tourism sector, Property Rental market, service sector, Education sector plus oil and natural gas that had been discovered on the island recently. These resources hopefully in future would become the major contributor to the economy of Northern Cyprus. The international investors, especially from Russians,British and Scandinavians have already started positioning their businesses on the island so as to leverage of the emerging oil and gas industry. Therefore Milano Homes Cyprus is looking towards to works closely together and help local, international investors and as well as our trading partners who sharing keen interest to establish their business or purchase properties in the island especially in commercial properties, real estate and project development.
Incentives For Investors
Incentives are applied to any types of investments with incentive certificates, this is regardless whether the investor is local or foreign.
(1) Exemption From Custom Duties: Imports like machinery and equipment concerning the project are exempt from every kind of custom duties and funds in accordance with Incentive Certificate. Regulations on importation of raw materials and semi-finished goods are specified by the Prime Ministry and is subject to the approval of the Council of Ministers. (2) Zero Rate VAT: Zero rate VAT is applied for both the imported and locally purchased machinery and equipment in accordance with the Incentive Certificate. (3) Reduction of Stamp Duty: For capital stamp duty reduction provided for the investments that are granted with incentive certificate. (4) Reduction Mortgage Fees: Special privileges applied on mortgage procedures and registration fees which are necessary required when using bank credit for the investments, the investors that are granted incentive certificates, most enjoying these benefits.
Investors who engaged into property development enjoy some form of privileges and unrepentant profits. If you are looking toward investing big time in properties development in North Cyprus, then you should consider consult our company. The government of North Cyprus encourages massive infrastructure development by the private sector. Property rental business is a booming venture on the island. Individuals and organisations, involve in rental businesses amongst others, have made a daily basic profits. If you have the required capital to build an office complex in any business district area, you will surely reap huge returns on your investment.
Although, despite the facts that this kind of business is a long – term investment plan, however you could still recoup your capital within a short period of time.