Cyprus Present and Future
Recently the world’s interest towards Cyprus has significantly increased. Why is Cyprus attractive today? Why do we have every right to speak about the New Cyprus? Let us make a short list of the New Cyprus advantages.
- Large offshore gas deposits have recently been discovered in the Exclusive Economic Zone of Cyprus.
The value amounts to 300%-3000% of GDP
- Gas extraction will start in 2020.
- Construction of the first casino resort is set to increase the number of tourists by 1mln a year.
This will add to almost 3mln tourists visiting the island every year while population of the Republic of Cyprus is 858.000. The casino resort is planned to be the largest in Europe and will be operated by Melco - Hard Rock, the largest casino operator in the World Wealthy and healthy country.
Wealthy and healthy country
- Cyprus is a member of European Union and Eurozone.
- By GDP per capita Cyprus is at the level of rich European countries - ranked 34th in the World (by nominal).
- Average lifetime - 81 years by women, 78 years by men. Cyprus has a modern and effective Healthcare system.
Ease of immigration
- Investment in Cyprus (€2,0million) allows to obtain citizenship (EU passport) in Cyprus.
- Property acquisition (€300.000) allows to obtain permanent residence permit in Cyprus.
Qualitative English education
- There are private English schools providing complete cycle of primary and secondary education in all the major cities of Cyprus
- Private and public education systems are distinguished by high standards. Results of exams taken in Cyprus are accepted by all European universities.
- A number of well-known UK universities (University of Central Lancashire, University of the West of England, University of Kent, others) have their branches in Cyprus in addition to 12 local universities.
- Cyprus is among the top 5 safest countries in the world consistently for the last few years. It is 1st among smaller countries. This is according to a study published on Value Penguin.
The data that they considered for the study was the population of every country, CO2 emissions, life expectancy, the amount of traffic accidents, the water quality and theft, kidnapping and the trafficking of drugs.
- One of the lowest crime rates in the European Union
- 95% of the population of Cyprus speak English and at a high level at that.
- Very friendly population especially towards foreigners. Cyprus is one big family. Foreigners now account for more than 1 in 5 of the population. This is the second rate in Europe (after Luxemburg)
- Cyprus ranks 5th best destination country for relocation in the world (source: Knightfrank)
- Advanced Legal system based on English law.
With the gas exploration program progressing fast, Cyprus is considered one of the most attractive investment places to date.
Republic of Cyprus is an EU-member state with €17 billion GDP, 858,000 population and the 34th in the world by GDP per capita. Newly launched hydrocarbon industry, which did not exist before, will shift Cyprus to the top rich countries in the world by GDP per capita in the next decade to come.There are twelve available gas fields within Cyprus Exclusive Economic Zone. Cyprus has completed the sale of oil and gas licenses for six blocks in its Exclusive Economic Zone.Initial reserves have been estimated as conservatively worth 300% confirmed of GDP upto 3000% of GDP at the upper end of forecasts.