CyprusProfile.com asked Naguib Sawiris, Chairman of M.M. Makronisos Ltd., about the key advantages of investing in Cyprus.
"We invested in Cyprus right after its financial crisis, as we saw it as a big opportunity, it could only go upwards. This, coupled with one of the most attractive and transparent tax systems in Europe, which is fully compliant with EU laws and regulations, as well as a modern and business-friendly legal system, have proven Cyprus to be an attractive destination for a foreign investor interested in Europe. Our experience as investors in Cyprus has been very positive. The government and authorities are welcoming and don’t spare any efforts to facilitate hurdles faced by foreign investors, and have been efficient in providing necessary permits for our project. The Citizenship and Permanent Residency by Investment Programmes are great incentives for foreigners to invest in real estate, and are helping to create a big opportunity for us to develop a huge project like Ayia Napa Marina, which we envisage to change the face of the Cypriot coastline and become the latest luxury destination in the Mediterranean basin".