Why Cyprus is a good investment

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Why Cyprus is a Great Investment Opportunity


Summary:

Cyprus is rapidly gaining popularity among investors, especially those interested in Self-Invested Personal Pension Plans (SIPPs). As of November 2005, we anticipate a new investment regime in April 2006, and this article discusses the potential benefits of investing in Cyprus, reflecting both the current and upcoming regulations.

Why Invest in Cyprus?

Since joining the European Union in May 2004, Cyprus has opened its doors to investors, resulting in a 30% increase in property prices, especially in the southern part of the island. This rise in demand makes Cyprus an attractive option for capital appreciation.

Investing with SIPPs:

A SIPP allows individuals to have personal control over their pension investments, including a diverse range of assets like property. For those interested in funding a Cyprus property purchase through a SIPP, consulting a financial advisor is essential.

Advantages of SIPPs:

- Tax Efficiency: SIPPs in the UK offer substantial tax benefits, including tax relief on contributions and tax-free growth within the scheme.
- Increased Contribution Limits: New regulations allow faster accumulation of funds, providing more resources for investment.
- Property Investment Flexibility: From April 2006, it will be possible to invest in residential properties, both in the UK and abroad, using SIPPs.

Disadvantages to Consider:

- Asset Ownership: Properties purchased through SIPPs are owned by the scheme, not the individual, and proceeds from sales return to the scheme.
- Tax Implications in Cyprus: Future capital gains and rental income may be taxable in Cyprus, although inheritance tax is not applicable there.
- Market Risks: Property values and rental income can be unpredictable, and the primary goal of any pension plan is to generate future income.

How to Get Started:

Consultation with a UK-based Independent Financial Advisor (IFA) knowledgeable about SIPPs and property investments abroad is a good starting point. Leveraging connections in Cyprus, such as reliable developers and lawyers, can facilitate the process.

Conclusion:

Cyprus presents a compelling investment opportunity, with the potential for significant returns. However, thorough research and professional advice are crucial to navigate the complexities of SIPPs and international property investments. For detailed guidance, consider reaching out to experts like Andrew Walters, who can offer personalized advice on this topic.

For more information, explore resources like [Living Cyprus](http://www.living-cyprus.com) for property listings and free advice.

You can find the original non-AI version of this article here: Why Cyprus is a good investment.

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