Residential Estate in Cyprus

From R33,800,000

Development Onyx Residences
Web Ref No ND44

R33.8 million for the entire development. Suitable for passport clients.

APARTMENT
Priced From R33,800,000
Number of Apartments 5
Size From 67m² to 99m²

New Development Profile

ONYX Residences is a small-scale, self-contained residential project with a residents' swimming pool, situated in the Kato Paphos area of the town of Paphos.

ONYX Residences is a small-scale, self-contained residential project with a residents' swimming pool, situated in the Kato Paphos area of the town of Paphos. The site borders on Nestoros street just opposite Almyra hotel in a distance of 400 meters. It is approximately 450 metres from the beach, the cosmopolitan area of Kato Paphos and the fishing harbor.

The four-storey development comprises one and two bedroom apartments plus a penthouse.
Elevator and concrete staircase lead to the upper floors. Trees and common landscaped gardens will cover the area between the building and the public roads. The total area of the land measures 681 sq.metres, of which approximately 300 sq. meters will be used for private green areas, which will be landscaped by the promoting company and ready upon completion of the project. Only 38% of the ground area will be developed.

All units provide: Fully fitted kitchen, Private bathroom , Fitted wardrobes , Private parking space, pergola-covered verandas In addition. Units also have a private storeroom.


Why Cyprus:

- Strategic location.
- Safe. Cyprus is in the top 5 safest countries in the world.
- English widely spoken.
- Favourable tax for Investors, lowest business tax in Europe.
- Advanced infrastructure - Education, Banking, Healthcare, Tourism.
- 300 days of sunshine a year!

Permanent Residency:

- Must purchase new property worth €300,000 + VAT or more.
- VAT will be 5% for the first property purchased in Cyprus instead of 19%.
- PR is guaranteed if all requirements are met (ie. Property purchase, all documents provided) and is received in 2 to 3 months.
- To start the application, at least €200,000 + VAT must have been paid and all documents provided to the lawyers.
- €30,000 must be placed in a fixed deposit account in the name of the applicant in a Cyprus bank for 3 years.
- One purchase can provide PR to husband and wife, any children under 25 years old, parents of the husband and parents of the wife.
- Holders of Cyprus PR cannot work in Cyprus but can own a business.

Citizenship:

- Must purchase property worth €2,000,000 + VAT or more.
- Can be multiple properties which need to be kept for 3 years, after which only property worth €500,000 must be kept for life. (ie. 4 Investment Villas plus 1 Primary Residence).
- Citizenship is granted 6 months after €2,000,000 investment and all documents provided to the lawyers.
- Dependent children up to the age of 28 that are attending an institution of higher education.
- Parents of the main applicant (either husband or wife) can apply for Citizenship after the main applicant has acquired Cypriot Citizenship, as long as they have purchased a property worth at least €500,000 + VAT.
- Citizenship will be passed down through the generations.
- Holders of Cypriot Citizenship can reside and work in the European Union and can travel visa free to 157 countries.
- Access to health care and education throughout the EU.
- Fantastic tax benefits ie corporate tax 12.5%

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