Exclusive 3 bedroom apartments in new project, walking distance to the sea-Pafos
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Exclusive 3 bedroom apartments in new project, walking distance to the sea-Pafos

Cyprus, Paphos, Kato Paphos
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€1 040 000
Purpose
Sell
City
Paphos
District
Kato Paphos
Object type
Under construction
Area
164 m2
Bedrooms
3
WCs
3
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Features
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Living area
164 m2
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Bedrooms
3
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Object type
Under construction
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Property type
Residential properties
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Year of construction
2020
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Title Deed
no
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Status
not ready to move in
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Surrounding Areas & Sea
This exclusive project is located on Poseidonos Avenue opposite the town’s most attractive seafront resort hotels and just seconds away from the nearest sandy beach. The four-storey building is only a few steps from the sun, fun and holiday activity in the town center. First impressions capture the slick design and the architecture that has adopted sophisticated lines and innovative materials. Take a closer look and you will see that the building’s contemporary style has been skillfully married with environmental awareness. The complex was created to offer its residents the best of Paphos and the beauty of Cyprus, and it will soon be ready to welcome you to a home that promises you an enviable quality of life. As impressive as the building looks on the outside, the interiors are where you will discover the full meaning of luxury living, Mediterranean style. Each apartment is spread across a whole floor – with the penthouse extending over two full floors – allowing you to enjoy abundant daylight, the refreshing sea breeze, and views in different directions. Relax, have a meal or even entertain on your spacious veranda and experience the best of Cyprus living. Even indoors, the large French windows bring that outdoor feeling inside. Seaside properties are always in demand and appreciate over time, especially in Paphos, a desirable holiday resort in Cyprus. The property serves equally well for personal use, or as an investment for long-term rental or short-term holiday rental that will generate healthy income at above average rates of return.
Exclusive property
Prime location
Open plan kitchen
Air conditioning
Alarm system
Dining room
Marble floors
Underfloor heating
Private elevator to each floor
LED down lights
Solar system for heating water
Pressurized water system
Double glazing
Penthouse with private pool
Walking distance to the sea and beach
Delivery date 2020
The price is subject of VAT.

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Frequently Asked Questions

Is it possible to get a residence permit in Cyprus now?

Yes - as at mid-2023, both a residence permit and a permanent residence permit are issued by the Cypriot authorities. Moreover, there are no prohibitions based on nationality and, for example, citizens of the Russian Federation also successfully become residents of the country. There are more than ten ways to get a residence permit. This is , for example, a student visa, a residence permit for financially independent persons, digital nomads, a residence permit based on employment, an investment Fast Track ... Of course, since the pandemic, many coordination procedures have taken longer than usual, but the country's authorities have not imposed any restrictions. But there are many nuances in the process, so each case requires individual consideration.

Is it possible to open a bank account in Cyprus now?

Foreign citizens can still open a Cypriot bank account. Only citizens of the Russian Federation and Belarus have difficulties. Most likely if you just come from the street in 2023, they will not open an account for you. And it is important that the “source of funds” is not associated with sanctioned activities. In practice, the list of incomes considered "sanctioned" has recently been expanding. An exception, for example, is the income received from the rental of real estate. By the way, it is not necessary to have your own bank account to buy a property if you are in Cyprus. But having already purchased it, and furthermore, having received permanent residence, both Russians and Belarusians can open an account. However, one must be prepared for the fact that checks (including the origin of funds) by banks have become tougher, although not particularly lengthened - the process takes, as before, about 2 weeks.

What the purchase procedure in Cyprus looks like

The main steps are as follows: verification of the buyer - including a banking verification. This is the most important, now necessary step, allowing to assess whether you can actually make a deal selection of a property (on-site or remote) and simultaneous submission of documents to the bank prepaid reservation conclusion of an agreement (with a description of the terms of payment) payment for the property registration of property rights, receipt of supporting documents. Depending on the details of a specific transaction, additional checks and preparation of documents are possible at different steps of the procedure.

Why is it profitable to buy real estate through an agency and not on your own?

Just note that it makes sense to contact (and communicate) with a reliable and professional company - with a history and positive reviews. Firstly, you involve specialists who understand the market, prices, offers, and the transaction procedure as assistants. They will help solve problems in an unfamiliar country with its own specifics. Second, you can find a company that speaks your language. You will be helped to organize viewings, collect documents, agree on deadlines and arrange necessary meetings and procedures. Thirdly, in many cases you can expect the price to come even down for a particular object - serious agencies usually have "special conditions" when dealing with developers. You should not hope for huge discounts, but you definitely won’t overpay. Finally, a good agency will help you resolve issues that are not directly related to the purchase. Teaching children, settling in a new place, searching for a master or a specialist of any profile - the needs can be very different.

What advantages does tax residency in Cyprus offer?

Cyprus is not an offshore jurisdiction, but it offers favorable tax conditions for those who become tax residents of the country. You can become a tax resident by residing in Cyprus for more than 183 days a year or if you: - Reside in Cyprus for at least 60 days in a tax year. - Do not live in another country for more than 183 days during the tax year. - Are not a tax resident of another country. - Have property in Cyprus, either owned or rented. In this case, you may qualify for Non-Domicile tax residency, where you are exempt from paying the Special Defense Contribution (SDC). The following are not subject to taxation: - Dividend income. - Interest income from deposits. - Rental income from real estate (except for income tax). You also do not pay tax on income outside of Cyprus, securities sales tax, inheritance taxes, gifts, and luxury taxes. These are just some of the advantages. For more detailed information, we recommend contacting us directly.

Is it possible to buy property in Cyprus remotely?

Yes, such transactions are practiced, especially when purchasing property at an early stage of construction or even before it begins when there is no opportunity to see the finished property. For example, our company facilitates the process by conducting online tours, showcasing potential options and areas, as well as addressing any questions and concerns that arise. The key aspect of this scheme is to find a trusted individual or company that will represent your interests, and then prepare, sign, and apostille a notarized power of attorney in their name.

Don't know where to start? We'll give you a hint!
Leave a request and our specialist will contact you to discuss all the details of the deal.
+357-26-101-382
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