CYPRUS: Developers expect boom in sales to Chinese buyers

 * Anastasiades: 15 visa offices by the end of 2016 *

Cyprus is expected to hire a private company to help with the process of visa applications in China, with President Nicos Anastasiades revealing during the Cyprus Real Estate Forum in Shanghai on Sunday that a network of 15 visa offices will be set up by the end of 2016.

In his address to the forum, attended by 70 major developers from Cyprus and investor and buyers’ groups from China, Anastasiades issued an “open invitation” to all investors to visit Cyprus and see for themselves that the island is an ideal place to invest, live and work in.
He also said that the economy is on a path to full recovery and enjoying a steady growth rate, with investment opportunities in all sectors, such as real estate, large public and private development projects, energy and privatisations.
He also referred to the favourable tax system and other related issues, such as the quality of life, security and modern infrastructure.
Anastasiades said that his government is determined to provide every possible assistance to Chinese investors.
Pantelis Leptos, Chairman of the Cyprus Land and Building Developers’ Association elaborated on the advantages and incentives offered to foreign property buyers and later said that the forum was “a major success and the President’s speech contributed tremendously.”
“We are sure that that the great interest shown during the forum will soon be realised, thus contributing to the recovery of the property and construction industries, but primarily with added revenues to the state coffers,” Leptos said.