The Jet Set Favours Cyprus

"Today we see a great demand for exclusive luxury real estate; it is connected with the formation of a privileged class of buyers, many of whom are Russians. The Cyprus market has increasingly focused on people with high incomes. This is facilitated by a number of reasons: one of the most agreeable climates in Europe (with 11 out of 12 months a year enjoying brilliant sunshine), excellent infrastructure, security, medicine, education, financial and political stability and, of course, a favourable climate for foreign business",- comments CEO of ReLux Estates, Roman Starikovich.

Indeed, the acquisition of expensive real estate on the island contributes to the very system of law. By buying a home from 300,000 Euros, a foreign buyer can obtain permanent residence status. Subsequently, the residence permit gives buyers the possibility to acquire citizenship. In turn, the Bank supports small and medium-size businesses, gives generous loans to developers and provides soft loans to foreigners, which ultimately makes the island more attractive to stay in.