Property in Cyprus

The Kingdom of Saudi Arabia (KSA) has already demonstrated that it has potential for Pafilia and its Cyprus properties, especially Minthis Hills, whose barefoot luxury villas and bungalows are very appealing to Saudi Arabians and expats. As result, we have opened up our first office in the Middle East, in Jeddah, KSA in the Al Andalous area of the city.

The company has a strategy of establishing local offices in key geographies with a view to providing local support and knowledge in local languages. Part of our Global network, this now joins our London, Moscow, St Petersburg, Kiev, Dublin and Chania offices. To head up our activities in KSA, Kyriazi Anghelopoulos has been appointed as Saudi Arabia area manager, who has a great deal of valuable experience in this region. I look forward to working very closely with him so that together we can realise our vision for the area.

We marked the occasion with an inauguration ceremony where our partner in KSA, Sheikh Mohammed Bakhashwain, and I signed the contracts for the office. This was followed by our first invitation only Pafilia seminar held at the Hilton, which was highly successful.

Cyprus is new to Saudi Arabians, but there are very strong reasons why we believe that we can provide expatriates and Saudi Arabians alike with what they desire; attractive holiday homes or investment property in an EU country which has a warm and pleasant climate, mountains, sea and so much more while being just a short flight away. Cyprus and Saudi Arabia each have a rich cultural heritage going back to ancient times, while having all the advantages of a modern cosmopolitan society.

Another aspect in the attraction of Pafilia’s Cyprus properties is that the Government has announced that non-EU citizens investing a minimum of €300,000 in property in Cyprus are highly likely to be granted an immigration permit, which is equivalent to a permanent residence permit. There will no longer be a need for visas or renewal of residency permits for non-EU citizens and owners will gain almost the same rights as Cypriot citizens.

In addition, Cyprus is the perfect place to enjoy life to its full. As well as its climate, Cyprus has a very relaxed lifestyle that removes the stress of everyday life. The low crime rate and family oriented culture create a safe and secure environment where your children can play outside without worrying. This is supplemented by an excellent education system, first class healthcare and state-of-the-art infrastructure. Cyprus is also an International business centre, where there are Inward Investment initiatives and where you can set up a company easily. It has low or zero taxation and bilateral tax treaties with a vast variety of countries, providing a gateway into the EU.

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