Pafilia Newsletter Jan 2015

7/18/2019 Pafilia Newsletter Jan 2015

http://slidepdf.com/reader/full/pafilia-newsletter-jan-2015 1/6

HAPPY NEW YEAR 2015

January 2015

I would like to take this opportunity to

wish our clients, associates and friends

a happy, healthy and prosperous 2015!

It is with great pleasure that I announce

that Pafilia had a very successful 2014,

despite challenging times. We boldly

forged ahead with development at allof our projects, and this has paid off,

as it showed our clients and partners

that we are committed to delivering on

our promises and I believe also played

an important role in our sales results.

September 2014, was an important

milestone, as we held the official

Minthis Hills inauguration ceremony

which was presided over by his Excel-

lency President Nicos Anastasiades.

Guests travelled from across the globe

to attend the opening which was also

graced by the presence of Archbishop

Chrysostomos II, the President of the

House of Representatives Mr. Yiannakis

Omirou, the Minister of Energy, Com-

merce, Industry and Tourism Mr. George

Lakkotrypis, Foreign Diplomats, Mayors,

State and Local officials, in addition to

key partners and esteemed members of

the local business community. Excel-lent progress was made at Minthis

Hills in 2014, the core infrastructure

was completed and the first residential

phase practically sold out, two factors

that have positively impacted sales

momentum.

Pafilia also delivered The Emerald at the

end of the year, while our beachfront

development, The Lighthouse, will be

delivered in Spring this year. Addition-

ally, we have now launched the third

and final phase of Elysia Park, which

also includes the commercial centre.

Based on last year’s results, and with

the economic sentiment in Cyprus ever

improving, I’m very optimistic that 2015

will be an excellent year. The Cyprus

citizenship program has proven to be

a very popular choice for investors

wishing to obtain EU citizenship; Pafilia

submitted 5 collective groups since its

introduction in April 2014, giving us a

market leadership position. Now tried

and tested I believe that the program

popularity will further increase in

2015, especially following changes to

other programs such as the threshold

increase of the Tier 1 and recently an-

nounced visa restrictions of the St Kitts

scheme.

On this note, I’m very pleased to an-

nounce that we will launch anotherflagship project in Spring 2015, and a

first of its kind in Cyprus, which will dra-

matically change the Limassol skyline

– The Pafilia Tower.

This will be an excellent choice for

both citizenship and lifestyle pur-

chasers and we anticipate a very

swift sell out. More information on

this incredible project will be pro-

vided in the very near future!

Evangelia Eliadou

Pafilia Executive Director

Pafilia Tower



CYPRUS, A PROMISING 2015

CHINESE YUAN RENMINBITO EURO EXCHANGE RATE

AT A 10-YEAR HIGH

Set to exit recession and back on inter-

national markets, Cyprus is ripe for eco-

nomic recovery – with tourism, energy

and financial services driving growth.

While Europe is still reeling from the

financial crisis, Cyprus achieved the fast-

est comeback to international financialmarkets from all bailed-out countries in

the history of the euro debt crisis and

is now officially on the cusp of exiting

recession. Forced to undergo a tough

bailout in March 2013, the country

successfully returned to international

markets in June 2014 with a €750 mil-

lion issue. Investors have been showing

keen interest in the Eastern Mediterra-

nean island, with December retail bond

issue being heavily oversubscribed by

foreign investors. Foreign direct invest-ments (FDIs) into Cyprus exceeded €2B

in the past year – boosted by the signifi-

cant capital-raising by Bank of Cyprus

in September and Hellenic Bank earlier

in 2014. Additionally, new company

registrations have been consistently

rising over the period. A quick return

to markets coupled with the domestic

banks’ clean bill of health in the recent

EU-wide asset stress tests, togetherwith the lifting of all domestic capital

restrictions and easing of the remaining

capital controls have brought a rapid

stabilisation of the banking sector. The

country’s tourism and services sectors,

which constitute around 80% of GDP,

have continued to be key drivers for

growth. Retaining and improving its

significant advantages for international

business has always been a key priority

for Cyprus, which before the interna-

tional financial crisis saw decades ofuninterrupted growth. For this reason,

safeguarding the stability and benefits

of its tax and regulatory regime has

been given paramount importance, as

they constitute one of the main pillars

of creating a favourable climate for

international business and investment.

Further investment is set to come from

the European Bank of Reconstruction

and Development (EBRD), who recentlyopened a resident office in Nicosia. The

EBRD, which is owned by the European

Union, the European Investment Bank

and 64 countries, made a €107.5 mil-

lion investment in Bank of Cyprus in

mid-2014 and holds a 5.02% stake in

the bank. The bank plans to invest at

least €100 million annually in Cyprus’

financial and energy sectors as well as

in privatisations. On the energy front,

Cyprus continues to explore its options

on how to best exploit its natural gasreserves.

Chinese Yuan Renminbi to Euro exchange rate is at a ten-

year high, offering significant savings compared to previous

months.

Compared to May 2014, investors that take advantage of

Cyprus’ highly attractive citizenship program can save more

than CNY 3,000,000 on the required investment – a saving of

approximately 15%.

For those considering making a purchase, now offers

the ideal opportunity to invest!Graph from XE.com, 09.01.2015



A PRIME INVESTMENTCyprus’ continual development into a

luxury destination and transportation

hub, its strategic location and global

appeal together with its highly prom-

ising future make prime real estate a

wise investment choice. Real Estate

has always been a preferred asset class

and according to recent Knight Frank

statistics, accounts for at least 20% of an

investor’s portfolio. The Cyprus luxury

property sector was not affected by therecent economic turmoil, and has actu-

ally seen quite strong demand. This

could be due to a number of reasons

including the limited supply of such real

estate on the island and Cyprus’ highly

promising future following the signifi-

cant oil and gas find.

Minthis Hills is without doubt one of

the most attractive options for discern-

ing clients. The development is at an

early stage of its project lifecycle, yet is

mature enough to offer peace of mind

that an ambitious vision is being per-

fectly realised. The development offers

excellent capital appreciation opportu-nity as additional core facilities, includ-

ing a village, square, luxurious spa

and health club, tennis academy and

equestrian centre are completed. In

addition, Minthis Hills has a locally un-

paralleled project team which includes

internationally-acclaimed architecture

firms Atkins and Woods Bagot, and

an inimitable vision combining luxury

distinctive architecture with sustain-

ability and outstanding facilities. The

project enjoys a breathtaking hillside

location offering pure seclusion, yet is

just ten minutes away from a wealth of

amenities.

With the first phase almost sold out,

and with prices below current market

value, now is the perfect time to invest.

MINTHIS HILLS

HAS GLOBAL APPEALWith over 10 nationalities

having already purchased a

private residence at Minthis

Hills, the resort is proving tohave truly global appeal. Ac-

cording to Swiss purchaser,

Mr. Kaegi, Minthis Hills cor-

porate performance stand-

ards are perfectly aligned

with the projects strapline,

Touch the Sky. He com-

mented that “the personal

engagement, commitment

and quality of all workers

involved has exemplified

Pafilia’s quality at its best– even for Swiss anticipa-

tions”. The combination of

incredible timeless architec-

ture with an extraordinary

setting and breath-taking

views captures the hearts of

all that visit.



Almost immediate EU citizenship, no residency requirement and an extremely straightforward process are some of the

reasons that Cyprus’ recently introduced citizenship by investment program has proved very popular. The program,

which enables an investor and his/her family to obtain Cyprus (EU) citizenship within 90 days, with a real estate in-

vestment of €2.5M, has attracted investors from across the globe and has provided an additional boost to the luxury

property sector.

Citizenship-by-investment programs enable high-net-worth individuals to move to popular migration destinations,

enjoy easier mobility, benefit from more favourable tax jurisdictions, facilitate business opportunities and offer an insur-

ance policy against political instability in their home country. A core motivation is the need to protect wealth, as many

of these individuals come from countries with an unstable political climate. Education and quality of life opportunities

are additional motivating factors. With no residency requirement and a similar investment threshold, Cyprus’ citizen-

ship-by-investment program is considered a very viable alternative to the UK’s Tier 1 program, especially following the

investment threshold increase from £1M to £2M which applies since November 6, 2014. In fact, it is without doubt the

most attractive option to individuals wishing to settle in any EU country.

Some key benefits of the Cyprus program are:

> Passports issued within three months

> Passports issued to the investor, their spouse and

dependent children up to age 28, provided they are in

full-time education

> Cyprus allows dual citizenship

> Unrestricted right to live, work, travel and study any

where in the European Union

> Visa-free travel to 158 countries

> Free trade within EU, business access to 500million EU citizens

> All nationalities eligible

> No language requirement, medical test or interview

> Exit strategy after 3 years

> No physical residency requirement

> Citizenship is passed on by descent, thus offering a

legacy to future generations

> Cyprus has no inheritance tax, has a highly favourable

corporate tax structure and a comprehensive double

tax treaty network

> No tax consequences, unless you opt to become tax

resident in Cyprus

> Cyprus offers a great place to visit/live, it enjoys astrategic geographical position, offers excellent world

wide connections, has excellent infrastructure, a pleas

ant climate and is highly stable

CYPRUS CITIZENSHIP PROGRAM VERY POPULAR



CONSTRUCTION PROGRESSPhotos of the construction stage at some of our current developments

The Emerald, now complete. Availability – very limited

The Lighthouse, will be ready in Spring. Availability – very limited

Aisis Park, early construction phase. Availability – good



HEAD OFFICE

Pafilia House

33 Nicodemou Mylona Street

Marina Court

PO Box 60159

8101 Pafos – Cyprus

Tel: +357 26 848 800

Fax: +357 26 934 910

Email: [email protected]

www.pafilia.com

MOSCOW

Pafilia Property Developers Ltd

Krasnopresnenskaia

Naberezhnaia 12

Pod’ezd 6, Office 1032

123610 Moscow, Russia

Tel/Fax: +7 (495) 258 1970/71

Email: [email protected]

www.pafilia.ru

CHINA

2710 – 2714 Blue Castle International Center

No. 3 Xidawang Road

Beijing CBD

P.R. China

Tel: (+86) 1572 476 1031

E-mail: [email protected]

www.pafilia.cn.com

PAFILIA GREECE, ALMYRIDA, CHANIA, CRETE AN EXCELLENT CHOICE FOR INVESTORS INTERESTED IN THE

GREECE RESIDENCY PROGRAM

Nestled on the hillside above the beach of Almyrida in Chania, Crete, this modern development of 6 very spacious two and

three bedroom houses has been designed with respect for the surrounding landscape. The architectural design is sympathetic

to the natural environment and clever planning has ensured that these 2 storey houses offer perfect, unobstructed sea views

from each property to the crystal clear Souda Bay. Large verandas are a feature of every property and intelligent positioningmeans that both front and back verandas offer sea views. These desirable houses have luxury finishes and have been carefully

designed to complement the property exteriors. A communal swimming pool for the exclusive use of the residents serves as

an alternative to swimming in the clear Mediterranean waters only 150m from the project. Several traditional tavernas can be

found situated on the sandy beach, making dining out in the evening effortless and extremely pleasurable. A short walk of 15

minutes is required to reach the beachside village of Almyrida which boasts a small picturesque fishing harbour, numerous

restaurants and all conceivable amenities.

View from the project

Chania Harbour Chania Village

Pafilia Newsletter Jan 2015

Documents

Transcript of Pafilia Newsletter Jan 2015