News

Famagusta could have its first golf course within three years, as the €100 mln Ayia Napa Forest Golf project is expected to get the green light from environmental authorities after being rejected four times over eco concerns. The golf course is to be built on land owned by the Forestry Department. Economic Benefits The construction...

We are happy to announce that SkyPrime Villas, a member of SkyPrime Group, has been awarded the Luxury Lifestyle Award 2020 in the category of Best Luxury Villa Rental and Accommodation Services in Cyprus. SkyPrime Group is proud of the recognition received for the high quality and standard of the villas developed. The Luxury Lifestyle...

Cyprus wines are considered one of the most ancient ones in the world. Their production started in 2000 BC. Today there is not a single Cypriot wine that would be known better than Commandaria – a sweet dessert wine, which is considered to be one of the oldest wines in the world. Commandaria is a...

Back in 2013, the government of Cyprus launched the Cyprus Investment Program. The program’s purpose was to grant Cypriot passports to those who invest a certain amount of money in real estate. Since then, the program has proved to be popular due to the many benefits a Cyprus passport provides. Multiple Citizenships allowed Passport granted...

The food of Cyprus is truly unique! Of course, it’s heavily based on traditional Greek cuisine, but there’s also a strong Middle Eastern influence which brings a particularly special flavor to Cypriot dishes. There are many traditional meals eaten on the island, with recipes that have been perfected over the centuries. Here are 4 foods we think you really must try when...

For High Net Worth Individuals, the ability to obtain a second passport is more popular than ever. Many people are keen to obtain a second passport on professional or personal grounds. Having an easier and safer lifestyle to raise a family, good weather, a stable economy, a professional infrastructure with global access, enhanced business opportunities...

The global pandemic of Covid-19 has forced countries and their governments across the world to demonstrate the efficiency of national response and the ways through which states are organized, and how they can best maximize health and help communities respond fast and efficient to crises. A recent article published in Forbes explains in great detail...

Originating in China, recent months have seen coronavirus spreading globally with the World Health Organisation declaring a pandemic. As the virus grips Europe and the World, many wonder what will be the outcome for Cyprus and its economy. Those involved in real estate, either buying, selling or developing wonder how the effects of the virus...

Cyprus continues to be a thriving island with a number of strong sectors. As sectors thrive Cyprus takes the opportunity to diversify and develop other areas that benefit the island and economy as a whole, below are some noteworthy sectors that are growing. Shipping Cyprus has a natural strategic location that has allowed for a...

A working group has been formed to expedite procedures for canceling visas for Cypriot passport holders who wish to travel to the United States. Three Cypriot ministers have held a joint meeting with the Assistant Secretary of State for Consular Affairs Mr. Carl Risch, to strengthen the cooperation between Cyprus and the United States of America in this...

Buying property off-plan is one of those things; it’s a coin with two sides, with a for-and-against list that each buyer has to check and assess for himself. The obvious ‘for’ for a completed or resale home is that you see what you’re buying, in its final form, and the property is ready to move...

Cyprus is a resilient Island proving that fact time and time again over the past few years. The island has one of the fastest-growing eurozone economies thanks to flourishing sectors such as foreign investment, tourism, property development and now natural gas exploitation. The countries priority in 2020 is now to ensure and maintain the momentum...

Following the participation in the London World Travel Market, one of the world’s largest travel shows that holds meetings with airlines and travel firms around the world, Cyprus sets out to promote tourism beyond the sun and sea. The rebrand is apart of a 10-year strategy for Cyprus tourism. Currently, the plan seeks to welcome...

First-time visitors are drawn to Cyprus for one or more of several reasons: the Mediterranean climate, the beaches, the history and archaeology, the UNESCO listed churches, the mountain trails, and the fresh and tasty food But there is primarily one factor that brings visitors back, again and again, and that is the culture and character...

The government of Cyprus is aware of the significance and the value of the positive effects the shipping industry has on the Cypriot economy. With its contribution at approximately 7 percent of the GDP, Cyprus shipping remains an industry with substantial prospects. The Cyprus Registry is the third-largest fleet in the EU and is considered...

It happens: you see a property – whether already built or off-plan – and instantly fall in love. Or, you hear of something but reject it offhand, without even taking a closer look. In fact, good marketers know that consumers often buy with their heart (not their head), and then rationalize their decision to justify...

The Cyprus Investment Program allows those who invest 2 million into Cyprus property to obtain a Cyprus Passport. The program has been successful and raised €4.8 billion from the exchange of passports for real estate under the investment program since 2013, according to a recent study by international anti-corruption watchdogs Transparency International and Global Witness...

As more and more people choose to buy a second home abroad, either for their own use or as a wise investment, the internet allows developers and sellers to present their portfolios online with detailed descriptions, extensive photos, and often even virtual tours. The value of online property searches cannot be overstated; however, once you...

The European Union as a whole has been affected by Brexit and as the deadline approaches a notable shift in UK firms looking elsewhere can be seen. As investment and fund managers are looking for stability outside the UK Cyprus has seized the opportunity to provide attractive legislation, thus setting the country on the road...

It’s not a secret: When seasoned travelers visit a holiday destination and are looking for the best restaurants, what do they do? They follow the locals The same applies to beaches in Cyprus. Follow the permanent residents and you’ll find a steady flow of the inland population driving towards Protaras every weekend...

Cyprus has developed over the years in many sectors, such as real estate, international business in Cyprus and shipping. The health care sector is no exception to this development, and after extensive planning and preparation, Cyprus is proud to offer the equivalent of the UKs NHS in the form of GESY. What is GESY? GESY (general...

Our clients ask and SkyPrime Group replies! Some of the most frequently asked questions in real estate business in Cyprus:   Client: Will I have to pay the VAT for plots/land in Cyprus, and how much is the current rate? SkyPrime Group: There is not a straight forward answer to this question yet. In most...

The economic growth of Cyprus is expected to remain strong according to recent forecasts. GDP continues to grow at 3.1 per cent in 2019 with a predicted steady growth in 2020 of 2.7 per cent. Unemployment has dropped significantly from 8.4 per cent in 2018 to 6.7 per cent in 2019 with predictions of an...

In terms of sales and investment in real estate in Cyprus, last year was one of the best since the financial meltdown of 2013. Especially property that is in one way or another associated with tourism witnessed a very welcome revival in parallel with the record-breaking number of tourist arrivals. Also boosting the market was...

Name any city, and you’ll find it has a following of friends, fans, and others who are indifferent. But when Mercer’s lists Limassol in its top 100 cities worldwide in terms of quality of life, everyone in Cyprus smiles – because that is something we’ve known all along...

The Cyprus Council of Ministers approved changes to the Cyprus Investment Program that will come into effect from the 15 May 2019. What is the Cyprus Investment Program? The Program enables non-Cypriots who meet specific criteria and invest a certain amount of money in Cyprus property to become a citizen of Cyprus...

The success of the Cyprus Investment program over the years has resulted in an increase of investment in property. Through investment in property, many have realised the benefits of renting property, specifically the benefits of short term letting. International apps such as Airbnb and other platforms have enabled owners of properties to rent their property...

Following a successful year for the Cyprus economy, it is set to maintain strong growth for the next few years according to the European Commissions forecast. A strong economy goes hand in hand with the rise of property sales and the figures do not disappoint...

After the financial crisis of 2013, Cyprus is now not only recovering well but also regarded as a rapidly developing country that is attracting serious foreign investors. The history of the Cyprus economy could make its recent quick recovery less surprising...

Ayia Napa, the small seafront resort on the southern coast of Cyprus, has triggered several taglines. From ‘the paradise of the Mediterranean’ to the ‘sun-worshippers Mecca’, it is seen by different people in different ways. That is because its beauty and appeal varies according to the season and according to the visitor’s expectations...

Cyprus has seen great success in real estate development and sales in 2018. With a number of investment upgrades and support from the Cyprus Investment Program, the market has flourished in 2018 – but what does 2019 hold for the Cyprus Real Estate Market?...

Cyprus is an EU country that receives all EU benefits and rights. As a citizen of Cyprus these rights and benefits are extended to citizens improving the quality of life. Cyprus Citizenship is not just accessible for those born in Cyprus, exclusive individuals may apply for citizenship and acquire a second passport...

Here at SkyPrime Group we highly value our contact with clients, believing communication is key to an excellent service. Due to this we have taken steps to keep clients informed on the latest news and developments on all aspects of the SkyPrime Group...

Cyprus not only offers a favourable tax system but what many business owners have recognised as a favourable work-life balance. A surplus of blue flag beaches, restaurants, bars and entertainment, Cyprus is a well-rounded option for international business owners...

During the week, nightlife is naturally a bit slower, but on weekends, residents and holidaymakers alike enjoy the colorful after-hours activity. What’s interesting is that, despite the island’s small size, every town has its own ‘brand’ of evening entertainment that is exciting in its own right and worth exploring...

Cyprus’ sovereign rating has been upgraded by Fitch Ratings to investment grade, ‘BBB- ‘from ‘BB+’, with a stable outlook as the island expects a 2.7 percent fiscal surplus this year and continuous growth that will boost receipts...

It’s the million-dollar question: Is it better to buy or to rent a home? The fact is, from country to country, generation to generation, year to year, and from person to person, the answer varies, depending on market conditions and personal circumstances...

Summer is over, fall is here, and with it the first tentative plans for the year-end celebrations. This is the season for family gatherings, winter breaks, and of course, it is the season of giving and receiving...

With the success of the Cyprus Investment Program alongside holidaymakers who fall in love with the island and make it their home, the real estate sector in Cyprus is growing at a rapid pace...

The coastline that borders the turquoise Mediterranean waters is a key feature and the magnet that attracts the majority of holidaymakers who choose to visit in summer. Some beaches are sandy – like the sweeping bay of Nissi Beach...