An office in Cyprus is a profitable solution for a stable investment income, since the demand for office space on the island is very high, especially for a small area. Also buying an office in Cyprus is an excellent first step to start your own business.
Investment projects and the purchase of a business in Cyprus are in stable demand among foreign citizens. Since Cyprus is an island in the Mediterranean with a warm climate and rich history, there is a large flow of tourists here. Therefore, business in various directions is growing and many foreign investors are investing in office centers, individual offices and other commercial real estate.
In our catalog you will find many offices of various sizes. We will select an object with a good location, which will take into account all your requirements.
Cyprus office: features
The presence of a real office is a mandatory requirement for Cyprus resident companies that operate on the island. You will not be able to move your representative office to the Republic and legally carry out activities without premises – the address that you indicate in the documents.
Free office space in Cyprus, especially class A, is extremely small. Therefore, this type of real estate is in high demand and gives a good rental yield.
Offices are located in office centers or on the ground floors of residential buildings. Such objects are being built in the business centers of cities with a developed infrastructure and good transport accessibility. If we are talking about an office center, then it can have a reception area, an open office area, closed individual premises, meeting rooms, dining areas.Offices on the ground floor may have a separate entrance from the street. As a rule, high-quality repairs have been carried out in the premises, modern equipment has been installed (air conditioners, alarms, internet connection, etc.).
To choose a good office in Cyprus, you need to focus on the convenience of the location of the facility, infrastructure development, and payback. At the same time, it is important to take into account not only the current profitability, but also financial forecasts – how promising the premises will be in a few years. Perhaps now the object has a low return on investment, but in the future its financial attractiveness will increase.
The most popular cities where people are looking to buy an office in Cyprus are Limassol and Nicosia. These are the island’s most popular tourist cities and business centers, where all business flows.
Reasons to buy an office in Cyprus
The business sector in Cyprus is expanding every year. Not only organizations in the tourism sector thrive here, but also financial and technical companies, leading start-ups are opening. The island has a wide range of activities for the business area.
It is worth buying an office for the following reasons:
- The price of office real estate is constantly growing, because due to the geographical features of the island, the development of new objects is limited, and the demand is consistently high. Acquisition of premises is much more profitable than its long-term lease – in the future, you can profitably sell the object or lease it at a good price.
In Cyprus, you can easily get a mortgage and become the owner of real estate without delay. Local banks are willing to accommodate foreigners and give loans at acceptable interest rates.High profitability. When you rent out office space, you can receive an income of 6% per annum.
- Favorable tax situation. For the first 17 years, the owner of the office premises was exempted from paying property fees, interest on income and dividends.
- The ability to obtain citizenship. When you buy an object in the amount of € 300,000 or more, you can apply for permanent residence, and after 7 years of living on the island, you can obtain local citizenship.
- Advantageous location of office buildings in terms of customer traffic, transport accessibility, convenient exits to the highway, well-developed infrastructure.
In addition, it is worth noting the high quality of the interior decoration. There are good layouts, good technical equipment and high sound insulation. There are all conditions for comfortable work. The territories around the office centers are landscaped and equipped with spacious parking lots.
Office in Cyprus: prices
The cost of an office space depends on the following factors:
– building class;
– property location;
– area, floor;
– the quality of the renovation, the presence of a fine finish, amenities;
– technical equipment;
– payback of the premises;
Depending on the listed factors, objects can cost from 160,000 € to several million. For example, an office in Limassol with an area of 40 m² can be purchased for 310,000 €. In Paphos, a 168 m² premise is being sold for € 425,000. In Larnaca, an office area of 116 m² costs around 1,000,000 €. These are objects of different class with a different level of location convenience.
We will help you buy an office in Cyprus
Estate of Cyprus real estate agency offers a wide range of offices in Cyprus. In our catalog you will find objects of various types: from classic-style real estate in the heart of a vibrant city to modern architectural buildings with panoramic views of the Mediterranean Sea.
We will select the premises suitable for the class and location, we will deal with all the legal issues of the transaction, we will accompany you “inside and out”. To choose an office, contact us by phone or chat on the website – managers will give a free consultation.