Residence permit is the permission from EU-countries to citizens of non-EU nations (also known as third country nationals) to stay for at least 3 months on the territory.
In line with Eurostat, 18,971 non-EU citizens were granted residence permits by Cyprus, in 2017. Citizens of India and Russia is the majority to which residence permits were granted.
The analysis of the residence permits that were granted to non-EU citizens by Cyprus, in 2017:
India – 4,710 (24.8%)
Russia – 2,883 (15.2%)
Nepal – 1,406 (7.4%)
Philippines – 1,317 (6.9%)
Sri Lanka – 1,200 (6.3%)
Others – 7,455 (39.3%)
Regarding Europe in total, employment opportunities, family reunification and educational opportunities are among the major purposes for issuing permits, according to the report.
The applicants declaring ‘Other reasons’ as their purpose for a residence permit in an EU-country, have the right to stay in that territory, although they are not permitted for work or international protection.
Also, the citizens of Ukraine (662 thousand) were provided with the highest number of permits by EU-nations while, the second highest number was Syrian citizens (223 thousand).
source: Eurostat
Panel Discussion: Anti-crisis Strategies in an Era of Economic Uncertainty
Yiannis Misirlis, speaks about the Property Investments in Cyprus during Best Invest Congress 2019.
Source: Youtube
Panel Discussion: Anti-crisis Strategies in an Era of Economic Uncertainty
Yiannis Misirlis, speaks about the Property Investments in Cyprus during Best Invest Congress 2019.
Source: Youtube
Panel Discussion: Anti-crisis Strategies in an Era of Economic Uncertainty
Yiannis Misirlis, speaks about the Property Investments in Cyprus during Best Invest Congress 2019.
Source: Youtube
Prospective overview at a conference with foreign investors
The Minister of Finance mentioned the government’s actions for turning around the economic state and addressing the challenges in the economy.
The Cypriot economy has entered a new promising period, Finance Minister, Haris Georgiadis, mentioned at the 4th Cyprus International Investors Summit in Limassol, reassuring all 150 and more foreign businessmen and investors for the great prospects Cyprus offers as an investment destination.
In his opening, Mr. Georgiadis recalled the difficulties that the Cypriot economy faced from 2009 to 2014, indicating that “that’s just a history of the past” and that today, Cyprus is one of the fastest growing economies in the EU.
Moving on, Cyprus is enjoying a revival, which is offering business and investment opportunities in all sectors and he noted that by the end of the year and after 5 consecutive years of the economic upturn, it will have added almost 19% to its Gross Domestic Product.
“We have covered the lost ground and we expect the growth rate to remain above 3% annually for at least the next 3 years”, he added.
The Minister of Finance mentioned the government’s actions for turning around the economic state and addressing the challenges in the economy, emphasizing that there is currently a fiscal surplus of 3% of GDP.
He added that we have to maintain this stable financial performance, “because the public debt is admittedly high, as a result of the rescue of the banking system but also of the excessive deficits of the past”.
Among other things, he talked about the fiscal incentives that the Government has adopted over the last year and a half, which, as he said, include measures to encourage Research and Innovation, capital formation and the film industry, as well as loan restructuring measures.
The Minister of Finance noted that all key sectors of the Cypriot economy, such as tourism, shipping, real estate and services are doing very well and that “the production base of the economy is gradually expanding into new territories that include Higher Education, Research and Innovation, natural gas, Renewable Energy Sources and the management of investment funds”.
“It is the government’s job to create conditions of stability and confidence to create a business-friendly environment, allowing the productive forces of the economy, effectively allowing the private sector, to do its job”, he said, adding that “that’s what makes the economic growth sustainable”.
At the same time, Haris Georgiadis noted that the Government is watching the developments in the region, the EE and the world, expressing his concerns about the growing volatility and the growing tensions concerning the world trade and the stand that the free market and the multilateral cooperation must continue to define global relations.
Furthermore, he said that the Government is following closely the Brexit developments and expressed his hope that this would happen on the basis of the EU’s agreement with the United Kingdom, while he pointed out that, otherwise, “we are not panicking since the comparative advantages of the small open economy of Cyprus can mitigate any possible negative effects”.
Conclusively, he reassured the foreign businessmen and investors that the Government remains committed to maintaining the fiscal discipline, but also to continuing to pursue an ambitious reform agenda in order to reinforce our competitiveness and the prospects of our economy.
“This is also my message to you. You must feel secure, welcome and seek the business and investment opportunities that Cyprus has to offer you”, he added.
For his part, the Director of Invest Cyprus, Michalis Michail, welcomed the fact that for the fourth year the conference gathers the interest of investors and businessmen from various sectors, who have the opportunity to see up close the investment-friendly economic environment of Cyprus.
Source: CNA (Cyprus News Agency)
To check out ‘Exclusive 18’, click here.
Living at Jasmine Residences offers a unique and pleasurable experience to all the residents. The signature interiors by Imperio bring a warm yet contemporary design edge to the project, transforming the residences into sophisticated, art-filled homes maximising the internal floor space and the abundant, natural light. All the rooms co-exist and complement each other, creating exceptional living areas that are perfect for relaxation and ease.
Occupancy: 04/2020
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* NOTE: All the tributes of All About Limassol (as the Official Guide of Limassol) aim to ONLY highlight the special aspects of this wonderful city, so that everyone can be aware of the exceptional options they offer. Under no circumstances do they have any promotional or nominal value, and they do not serve the interests of Companies, Municipalities, Organizations or Individuals.
Limassol is evolving into a top seafaring destination, and the recent international distinction awarded to the Limassol Marina, ranking it among the top 5 marinas worldwide, is a testament to this.
The ‘5 Gold Anchor Platinum’ Award, which was announced during the opening ceremony of the Limassol Boat Show 2019, is the highest distinction awarded to marinas, and it is based on 89 separate criteria that act as indicators of excellence of the marina’s customer services and facilities. This global scheme, which is jointly administered by the UK’s The Yacht Harbour Association and Australia’s Marina Industries Association (MIA), aims at raising quality standards in marinas across the world.
With a particular focus on the facilities, customer service and infrastructure offered by each marina, this scheme helps customers in the evaluation and selection of marinas that are best aligned to their needs, while at the same time contributing to continuous business improvement.
The award acts as proof of the Limassol Marina’s unparalleled concierge services and its continuous commitment to maintain its facilities and services to the highest standards. As the Limassol Marina is the ultimate ambassador of the Cypriot yachting industry abroad, this award serves to strengthen the image of the island worldwide. It is worth noting that the Limassol Marina has previously received major awards and distinctions, such as the ‘5 Gold Anchor’ and ‘Blue Flag’ awards, which reflect its commitment to the protection of the environment and best practices.
Source: All About Limassol
Construction of “The Icon”, a landmark residential project developed by Imperio in Limassol, is progressing according to plan and on schedule, with market interest to date already signalling the project’s success.
After obtaining the relevant licence from the Town Planning authorities towards the end of 2017, Imperio put the finishing touches on the design of The Icon and finalized the services that residents will enjoy in this impressive building that is set to redefine the Limassol skyline.
The construction team broke ground in February 2018 and excavation works were completed in August. In October, Iacovou Bros proceeded with the construction of the foundations, the basement level and the framework. Serious progress has already been achieved, as the Icon begins to take shape and slowly but surely approaches its scheduled completion date.
The company has proudly noted: “Our vision of building a world-class residential development in Limassol is now one big step closer to becoming a reality.”
The Icon has already been launched at major national and international real estate forums including events in Dubai, Moscow, Amman, London, Hong Kong and Tel Aviv.
Almost 45% of the residences have already been sold, as the high-rise building has caught the eye of investors seeking to acquire apartments that will supply the demand for long-term rental of luxurious urban accommodation.
By March 2019, a dedicated on-site Sales Office will be ready to receive visitors and prospective buyers. Till then, all enquiries and requests for a personal and private meeting can be addressed to Imperio’s Customer Service team.
At the same time, real-time progress of construction works can be viewed HERE.
Source: Philenews
