Karma Magazine - 1st Edition

Year 2018

karmadevelopers.com

THE GREAT ISLAND OF

CYPRUS Cyprus is the one of the world’s most popular islands for both holidays or living residency.

HARRIS GEORGIADES Cyprus’s finance minister Harris Georgiades, discusses the prospects for the country’s economy

THE ALLURE OF MULTIPLE CITIZENSHIP

A second passport gives a business person access to the global market which in turn, creates opportunities for growth

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Reasons to invest in Cyprus

THE SUCCESS STORY OF KARMA

Karma Developers are building their Karma and defining their future.

www.timinis.com

NICOSIA: 22 762346 | LIMASSOL: 25 335066 | LARNACA: 24 657605 | PAPHOS: 26 946776 | AYIA NAPA: 23 725999

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Properties eligible for Citizenship or Residency Programmes

EDITORIAL I CL

editorial

NOTE

@NicolasKaroullas

EDITOR Nicolas Karoullas PUBLISH Karma Estates PRINTING Cassoulides Masterprinters DESIGN Intelligence Media COPYRIGHTS The edition is distributed from Karma developers The republication, reproduction or audio - visual transmission of the whole or part of the edition is strictly prohibited without the prior written permission of the editor.

OFFICES 16 Kennedy Avenue, (Kapparis), 5290 Paralimni T + 357 23 730 777 F + 357 23 730 778 E sales@karmadevelopers.com.cy www.karmadevelopers.com

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It is my pride and pleasure to welcome you to our company.

Karma Group is a family business which was founded by the late Mr. Charalambos Karoullas in 1985, who had a vision of creating a unique and quality projects on the beautiful eastern coast of Cyprus, knowing that this area is the ‘jewel’ of the whole island.

Its current owner Mr. Nikolas Karoullas works with passion and its well known for his high ethics, following ambitiously in his father’s footsteps to continue building and adding his very own personal touch of integrity, honesty and quality to the business.

During all these years we have always made our own main concern the same and to build strong and everlasting relationships with our clients and associates. We have committed ourselves to create a friendly customer oriented service and an after sales care which is second to none, emphasising on the quality of our projects instead of the quantity.

You see, what matters the most to us here at Karma Developers is that all of our actions are based on human principles; we believe in integrity, honesty, team work and above all in respect, to our clients, our colleagues, our associates and ourselves.

This philosophy has been the basis of our success and good reputation in the real estate market where we promise to excel and exceed your expectations and ours.

Enjoy the issue!

AT A GLANCE I CL

CONTENTS COASTAL LIVIN 4 FROM THE EDITOR

cutting costs to meet increasingly higher client expectations, Cyprus provides a complete value proposition.

6 AGENDA

12 PROTARAS & AYIA NAPA TODAY

Welcome note from the editor Mr Nickolas Karoulas The two Municipalities of Paralimni and Ayia Napa are offering unique events to enjoy each month.

24 THE SUCCESS STORY OF KARMA

With ambitious development plans, Karma Developers are building their Karma and defining their future.

Your own “lost Atlantis”

26 THE CYPRUS CITIZENSHIP PROGRAM

14 SWIM INTO THE DEEP BLUE SEA!

8 THE ISLAND OF CYPRUS

The small yet dynamic Mediterranean island of Cyprus, famous for the warmth and hospitality of its people, continues to be an attractive location to live, work and invest.

The Cyprus citizenship program offers the most simple and efficient means of obtaining EU citizenship.

Sink your feet into the warm sand, feel the sun on you while admiring the shiny waters of the Mediterranean. Below you will read about 7 beaches that are truly worth visiting.

10 WHY CYPRUS?

34 HARRIS GEORGIADES

Cyprus’s finance minister Harris Georgiades, discusses the prospects for the country’s economy

16 DEEP BLUE SEA!

In a globalized economy where multinational companies are pressed to maintain and increase quality while

40 EDEN SQUARE

Experience the ocean depth of Cyprus, dive into the crystal waters and enjoy an incredible time.

If you want a little taste of heaven, eden square is the place to be!

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ON THE HORIZON I CL

AGENDA

YEAR 2018

Moonwalk

Flower festival

Tastes of the World

The city of Paralimni invites the world to enjoy the August full moon on a long walk along the sea while listening to the beautiful and gentle tunes of various local musicians. The event is located along the seaside promenade of Protaras and is open for all people of all ages.

The Anthestiria Festivals in Cyprus have a similar theme to that of the ancient Hellenic times. The word Anthestiria derives from the Greek word anthos which means “flower” and features exhibitions, flower markets and shows. The main focus of Anthestiria is the flower parade with beautifully decorated floats and pedestrians carrying flowers.

The “Tastes of the World” is a celebration being held by the Paralimni Youth Council. Its main features are the tasting of food, beverages and culture.

Music, Dance and Food from the four corners of the world are taking place, and all the people are participating in the international parade that takes place in the streets of Protaras.

Carnival Parade

The “Flood”

Summer Film Festival

The Carnival Parade is organized every year by Paralimni Municipality and has now became an institution. People from the area participate, and themes that each of the chariots and groups involved are imaginative satirizing the international and local news. The big parade involves over 50 groups and attracts more than 20k audience.

The “Flood” is a traditional celebration with huge cultural significance that takes place on the Sunday of the Pentecost and the Monday of the Holy Spirit.

It’s a joyous celebration with songs of the past combined with today’s music, and with street vendors selling their products in the crowd.

One of the biggest events in Cyprus, usually starts by the end of July and finishes by the first week of August.

It takes place at Protaras Square, in front of Odessa Hotel with a line-up of films aimed at satisfying all tastes, from cartoons for the little kids to box office blockbusters and hilarious family comedies.

AUGUST 2018

FEBRUARY

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Throughout the year and mostly during the summer period, Paralimni and the greater tourist area of Protaras and Ayia Napa is filled with creative and lively events for entertainment, unforgettable experiences and long lasting memories. Culture is vital for the historical heritage and tradition for the population to maintain and for the tourists to experience life as locals. The two Municipalities of Paralimni and Ayia Napa are offering unique events to enjoy each month.

COASTAL LIVIN 2018

MAY 2018

JUNE

SEPTEMBER 2018

JULY 2018

AT A GLANCE I CL

The Big Picture Probably one of the best places in the mediterranean sea. Famagusta is the perfect spot for everything! Probably one of the best places in the mediterranean sea. Famagusta is the perfect spot for everything! Probably one of the best places in the mediterranean sea. Famagusta is the perfect spot for everything!

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The great island of cyprus Situated in the hard of the Mediterranean Sea, Cyprus is the one of the world’s most popular islands for both holidays or living residency.

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It is well known for its agriculture and healthy Mediterranean diet with the most famous to be the ‘Terra Rosa’ potato. With recipes dating back hundreds of years, here you can enjoy the famous halloumi cheese and vegetable appetizers, main courses that include goat meat on the spit, pork reduced in wine, scrumptious honey dipped deserts and preserved fruits.

Regardless its small size, the island is one of the most competitive shipping centres in the world with attractive location for foreign investments due to its location between three continents. Along with the rising tourism, this contribute to the islands high living standards and economy and is a perfect gateway for business who wish to penetrate new markets.

Is simply unique because it blends history, culture and leisure all in one. It is a fact that the weather in Cyprus remains summerly hot for at least six months in a year. This

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provides the opportunity to enjoy the sea, the sun and the sand almost all year around. Above all, the island landscape beauties are countless. It combines mountain scenery with sandy crystal beaches.

With a population of 1.140.000, Cyprus is considered to be a safe place for both tourists and permanent residents.

The island’s capital, Nicosia, is well known for the historical buildings and the “green line” that remains there since 1974, leaving the city to be the only capital in the world to be divided.

Famagusta (Ammochostos) is one of the most famous tourists’ attractions because of the crystal sea water and golden sand beaches.

Cyprus is ideal for anyone who wishes to have an amazing holiday or an amazing every day sunny life surrounded by warm, beautiful, hospitable people. Cyprus is welcoming to you to enjoy the high standard of living at slower paces and very low stress levels.

DESTINATION I CL

Kolossi Castle, Limassol

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Protaras by sky, Paralimni

Why Cyprus?

In a globalized economy where multinational companies are pressed to maintain and increase quality while cutting costs to meet increasingly higher client expectations, Cyprus provides a complete value proposition.

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In broad usage, the term global citizenship or world citizenship typically defines a person who places their identity with a “global community” above their identity as a citizen of a particular nation or place.The idea is that one’s identity transcends geography or political borders and that the planetary human community is interdependent and whole; humankind is essentially one. The term has been used in education and political philosophy and has enjoyed popular use in social movements such as the “World Citizen” movement and the Mondialisation movement. In broad usage, the term global citizenship or world citizenship typically defines a person who places their identity with a “global community” above their identity as a citizen of a particular nation or place.The idea is that one’s identity transcends geography or political borders and that the planetary human community is interdependent and whole; humankind is essentially one. The term has been used in education and political philosophy and has enjoyed popular use in social movements such as the “World Citizen” movement and

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the Mondialisation movement. In broad usage, the term global citizenship or world citizenship typically defines a person who places their identity with a “global community” above their identity as a citizen of a particular nation or place.The idea is that one’s identity transcends geography or political borders and that the planetary human community is interdependent and whole; humankind is essentially one. The term has been used in education and political philosophy and has enjoyed popular use in social movements such as the “World Citizen” movement and the Mondialisation movement.

In broad usage, the term global citizenship or world citizenship typically defines a person who places their identity with a “global community” above their identity as a citizen of a particular nation or place.The idea is that one’s identity transcends geography or political borders and that the planetary human community is interdependent and whole; humankind is essentially one. The term has been used in education and political philosophy and has enjoyed popular use in social movements such as the “World Citizen” movement and the

ISLAND I CL

Mondialisation movement. In broad usage, the term global citizenship or world citizenship typically defines a person who places their identity with a “global community” above their identity as a citizen of a particular nation or place.The idea is that one’s identity transcends geography or political borders and that the planetary human community is interdependent and whole; humankind is essentially one. The term has been used in education and political philosophy and has enjoyed popular use in social movements such as the “World Citizen” movement and the Mondialisation movement. In broad usage, the term global citizenship or world citizenship typically defines a person who places their identity with a “global community” above their identity as a citizen of a particular nation or place.The idea is that one’s identity transcends geography or political borders and that the planetary human community is interdependent and whole; humankind is essentially one.

The term has been used in education and political philosophy and has enjoyed popular use in social movements such as the “World Citizen” movement and the Mondialisation movement.

In broad usage, the term global citizenship or world citizenship typically defines a person who places their identity with a “global community” above their identity as a citizen of a particular nation or place.

The idea is that one’s identity transcends geography or political borders and that the planetary human community is interdependent and whole; humankind is essentially one.

The term has been used in education and political philosophy and has enjoyed popular use in social movements such as the “World Citizen” movement and the Mondialisation movement.

In broad usage, the term global citizenship or world citizenship typically defines a person who places their identity with a “global community” above their identity as a citizen of a particular nation or place.The idea is that one’s identity transcends geography or political borders and that the planetary human community is interdependent and whole; humankind is essentially one. The term has been used in education and political philosophy and has enjoyed popular use in social movements such as the “World Citizen” movement and the Mondialisation movement. In broad usage, the term global citizenship or world citizenship typically defines a person who places their identity with a “global community” above their identity as a citizen of a particular nation or place.The idea is that one’s identity transcends geography or political borders and that the planeta places their identity with a “global commun identity as a citizen of a particular nation or place.The idea is that one’s identity transcends geography or political borders and that the planetary human community is interdependent and whole; humankind is essentially one. The term has been used in education and political philosophy and has enjoyed popular use in social movements such as the “World Citizen” movement and the Mondialisation movement.

The term has been used in education and political philosophy and has enjoyed popular use in social movements such as the “World Citizen”

Larnaca International Airport

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protaras & ayia napa today Your own “lost Atlantis�

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The changes that occurred in the Southern Famagusta district in just few years are remarkable. Just before the invasion in 1974, all the other villages except the city of Famagusta that was mostly popular, were just typical small villages. After the war, all the non-occupied area of Famagusta District like Ayia Napa, Paralimni, Deryneia, Sotira and all the other villages had started to blossom and turned into the new jewel of not only Cyprus but, the Mediterranean as well.

Famagusta District has changed into a magnificent place, which attracts more and more people whom along locals enjoy the everyday life. What used to be a quiet area is now a popular tourist attraction and people of all ages visit it.

Restaurants, pubs, taverns, cafes and clubs can be found around the area. Throughout the area different festivals are also organised, with the most famous the summer ones, as it is being held under the stars and the summer moon, making summer holidays even more enjoyable.

Famagusta District has been transformed into a remarkable tourist attraction. The outstanding hotels, which offer a variety of services to their visitors and all the other

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ISLAND I CL

places such as cafes, bars and museums, can certainly guarantee what it takes to enjoy the most memorable holidays.

Despite the general belief that the area is mostly popular for its nightlife, the visitor has plenty of other choices on where to go and want to do. Places like monuments, museums, breathtaking natural places, golden beaches, cliffs and remote gulfs create a unique atmosphere into this attractive beach resort.

Locals’ hospitality will also help you enjoy the everyday life of Famagusta, only by their greetings and through the taste of Cypriot cuisine and wines.

You will also feel its pulse by the dives in its crystal - clear waters and its saltiness on your body. The bright sunshine will hug your body and after you get “drunk” by all these; you will then truly feel the uniqueness of what Famagusta refers to.

After staying in the area, you will then understand that this place truly knows how to keep its secrets.

Its traditions that have remained unchanged, all the sandy beaches and the lively music, help to make someones’ moments unforgettable. Beyond doubt, after going back, the moments and the experience of Famagusta, will follow you making you wanting to come back to find your lost Atlantis.

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SUMMERTIME I CL

enjoy the mediterranean sea Sink your feet into the warm sand, feel the sun on you while admiring the shiny waters of the Mediterranean. Below you will read about 7 beaches that are truly worth visiting.

Nissi Beach This is the hottest location for your summer holidays as it is one of the most famous beaches on the island and you should definitely visit. Its length is up to 500metres long and its width is 45metres. The view is just magical since on the western part, there is also a small island which is joined to the beach creating an exceptional vision. This sand move-

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ment was created because of the small depth and the sea waves. When you arrive at the beach what you will witness will catch your eye. People dancing to the loud music, enjoying their drinks at the nearby bars and at the same time having many services to choose from on how to enjoy your day by the beach; services like sun beds and umbrellas, toilets, lifeguards and plenty of

water sports too.

Konnos Beach Konnos gulf is right in the middle of Ayia Napa and Protaras’ borders. Its golden sand with the crystal clear waters classify it among the top beaches of the island. Although it is quite isolated yet it is surrounded by pine trees and mostly slopes which protect it from the strong winds. There are plenty of yachts here during the

summer months. The Blue Flag was also awarded to Konnos Beach and there are also lifeguard services, sun beds and umbrellas as well as, different water sports.

Fig Tree Bay Protaras Beach or Fig Tree Bay, is one of the most famous beaches across Cyprus. Its clear and shallow waters along with its golden sand make it very

popular among locals and visitors. It has also been voted as one of the best beaches in Europe by Trip Advisor; the Blue Flag was also given because of its waters and the services to tourists and also has the title of ‘The Green Beach’.

It was named after the fig tree that exists at the back part of the beach which the conquerors have brought in the 17th century. There are also

newly built constructions for disabled people as well.

Sun beds and umbrellas are also available and also water sports and lifeguard services.

Vizakia Not a lot of people know about this beautiful beach.

It is about 150 metres away from the Nissi settlement. It’s a small beach with 80metres length and 25metres width. Its name shows the existence of

rocks but due to the Municipality’s work this beach is now a truly jewel of the area. Sun beds, umbrellas and toilets can be found here. Due to the fact that this beach is relatively small, be prepared that you may not easily find a spot.

Makronissos Makronissos is a 350metres long beach, which is about 5km from Ayia Napa’s town centre and is actually a combination of three

different gulfs. These three gulfs with their tiny golden sand and their crystal water outspread to three different locations; east, southeast and southwest.

The southeastern part is a protected area by Natura 2000. The beach offers toilets, changing rooms, sun beds, umbrellas, water sports and a nearby kiosk.

In addition, there are plenty of restaurants and kiosks in the area.

Kampouris Sand This beach is between Kermia Beach and Glyko Nero. It has 100metres length and 25metres width.

It’s a very quiet beach with golden sand. There is a lifeguard there with changing rooms, toilets, sun beds and umbrellas.

The Blue Flag was also awarded to this beach and you can access it by car, on foot or by bike.

Ayia Napa Port

The area near the port has transformed into one of the three features of Ayia Napa, along with Cape Greco and the Monastery.

A different world is set there with the pavements and modern cafeterias, restaurants and crystal waters of the Mediterranean. The fish boats with the fishermen give a relaxing atmosphere to the area.

It is a place where anyone can visit during daylight and at night as well.

Nissi Beach, Ayia Napa

Fig Tree Bay, Protaras

Limanaki Beach, Ayia Napa Konnos Bay, Ayia Napa

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AQUA LIFE I CL

deep blue sea!

Experience the ocean depth of Cyprus, dive into the crystal waters and enjoy an incredible time.

Our country is described as a diving heaven by thousands of tourists. Many divers arrive here every year in order to enjoy the depth while others attend their first diving lessons.

The purity, the clarity and the temperature of the waters along with the quality of the diving services by

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the Diving Centres can certainly classify Cyprus as one of the most important diving destinations in the Mediterranean.

The body seems to be flowing freely into the mysterious aquatic universe without any sense of gravity. The magical shimmering colours of the sunshine onto the clear waters

give a sense of peace and eternity. The deep blue colour of the sea is lighted by the bright colours of the red corals that are decorated with colourful shells and orange starfish, and by the green valleys full of sea sponges and windflowers. This peacefulness is only disturbed by a sea ark with a shoal of fish, shy octo-

pus, playful dolphins and nonchalant turtles that give life to the astonishing underwater landmarks.

Take advantage of the splendid weather in Cyprus that offers diving throughout the year. In addition, the waters around the island are clear and cool and the absence of plankton assists in

having exceptional visibility.

If you have never dived before, there are many diving schools in Famagusta to help you experience your first dive with the underwater world and give you a tour around some of the best diving spots.

By being safe and with professional guidance, you will be able to learn

the basics, such as breathing underwater, visiting the ruins and exploring some rocky gardens trapped in sponges.

No matter which area you choose for diving, one thing is for sure that you will enjoy it! However, some of the destinations are quite popular for divers and act as meeting points to share their passion for exploring the sea depth, to take underwater pictures or to fish. We have chosen ten places in the non-occupied area of Famagusta district which you have to visit for your diving journey.

Ayia Thekla, Ayia Napa Liberty Wreck, Protaras Kermia Reef, Ayia Napa Ayioi Anargiroi, Cavo Greco Cavo Greco Caves, Ayia Napa Konnos Bay, Protaras Cyclope’s Cave, Protaras Green Bay, Protaras Nemesis III Wreck, Protaras Keryneia Wreck, Ayia Napa

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10 reasons to visit Famagusta District!

Famagusta is . . . like a puzzle with lots of tiny pieces; pieces that come together to join and create a colourful picture of sounds, images, tastes, experiences and moments. Below there are ten reasons why someone should visit the area of Famagusta.

Blue lagoon, Protaras

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Medieval festival, Ayia Napa

1) Ayia Napa & Protaras offer the best nightlife to enjoy bars, clubs & restaurants.

2) Explore Cape Greco. What is truly amazing here is the glorious beauty of the hidden rocks near the sea along with its natural flora.

3) To drive or walk the road from Ayia Napa to Protaras and be impressed by the landscape and its untouched natural beauty.

4) To enjoy some of the best beaches around Europe. What you will experience here is that little things matter and help make a difference….

5) To taste the famous Cypriot cuisine. Halloumi cheese, seftalies (mince wraps), kleftiko (kebab), flaounes (Easter treat), xoiromeri (leg ham), souvla and many more from an endless list.

6) To taste fresh fish by the sea; right where the sea waves end.

Many restaurants and fish taverns have been built right next to the beach, and offer the best fish you have ever tasted along with the heavenly view of the Mediterranean.

7) To learn about the rich history of the area and its remainings. The folkloric museums in Deryneia, ‘Thalassa’ Museum and the Sculpture Parks in Ayia Napa will just take you back in time.

8) To attend different local festivals organised in the area and attract thousands of people, locals and tourists.

9) To meet its people who are always willing to welcome you to their house, and share some of the secrets of Cypriot culture and tradition.

10) To do scuba - diving, rock climbing, flyboard, cycling, and many more in just one area; Famagusta.

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TRADITION I CL

traditional Goods!

Below you will discover Cyprus’ top six local products which will assure your tasting delight.

Soutzoukos This is a traditional sweet made of a thick creamy mixture also known as ‘moustalevria’. It is a mixture of grape juice with some flour, cinnamon, rose water and some mastic. Using a special rope, almonds are dipped into the mixture and then allow them to dry out in the sun until it gets lots of layers. Then, it is left out in the sun for days and it’s a sweet which can be used for months.

ro. Zivania is unique because of its flavour and taste. It is a colourless drink with a slight grapes aroma.

Halloumi cheese It is Cyprus’ traditional white cheese, which has been produced in the island for centuries. It is a semisoft cheese made by sheep milk and spearmint leaves. It is tasty and can be eaten either grilled or fried. It can also be enjoyed raw or in a sandwich. Its taste is quite salty and can be refrigerated for a year. Halloumi cheese can be found in all Cypriot houses since locals enjoy it in their breakfast, lunch and dinner, grilled, fried, boiled or even when it’s warm and fresh.

Koumandaria The production of Koumandaria takes place in the region of Koumandaria in Cyprus, on the foothills of Troodos Mountains.

It’s been fortified by the European Union as a product designation of origin. Koumandaria’s colour is deep amber, rich and strong to the nose with a complex character, in which there is a dominance of scents such as sun dried grapes, grape must, dried figs, nuts, bitter chocolate and cigar’s.

Zivania It is a local alcoholic drink which is made of grapes’ skins through a process of distillation during the wine making process with excellent local dry wines. Traditional equipments are used for this process, similar to the ones used for Tsipou-

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Spoon sweets The so called traditional ‘spoon sweets’ are being made in majority of Cypriot households. In the past women used to welcome their guests by offering or treat them with these homemade ‘spoon sweets’.

Seftalies Seftalies is a delicious local food, cooked on the grill, and is made of mince wrapped in graft in small sausage rolls. The graft looks like lace and what is usually used is the one of lamb or pork, as these are thinner and the mince can easily be wrapped.

THE PLACE I CL

Organic for all

Etherio is the safest choice you can make everyday when thinking of your nutrition, of your family, of the environment and planet earth.

Etherio organic stores being the first and largest organic chain in Cyprus brings you every day all of earth’s freshness by your table.

With all our love and positive energy we gather organic products from more than 40 producers in Cyprus and import a wide variety of products so as to cover all your family needs.

At Etherio, Bio stores, you will find fresh fruits and vegetables, fresh meat, fish, a large variety of products, gluten free, vegetarian and vegan. We also have a wide range in cosmetics, herbs and essential oils, personal hygiene items, baby food, pasta, dairy products, etc.

With a range of more than 8,000 products, we cover all specialty needs.

Our personnel is enriched with dieticians present in our stores and ready to assist you in finding the best product to cover your nutritional needs. Ask our Dietitians to help you build your personalized, weekly dietary program for free.

With seven stores all around Cyprus we help you keep fit and healthy wherever you may be.

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SIGHTSEEING I CL

8 Top-Rated Attractions Famagusta district offers a huge rich heritage and it is difficult for anyone to choose from, so we have chosen the main places someone should visit.

Thalassa Museum 14 Kryou Nerou, Agia Napa Thalassa Museum is right in the centre of Ayia Napa and it can be found in a modern building with a remarkable architecture. Its main goal is to inform the people about the coastal heritage of Cyprus from the pre-historic years until today. The visitor can be informed by the audiovisual means about the most important facts of the history of Cyprus with the main character a boat which takes us to the different periods; they can visit

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the expositions and admire the ancient Cypriot discoveries which go back to 7000 years from the Neolithic time until the Venetian domination. The main sight of the museum is the replica of the famous boat ‘Keryneia II’ since the ancient boat is within Keryneia’s castle. There are also fossils from different sea creatures (like shells, fish, ammonites) which are more than 100 million years and many stuffed animals like fish, turtles, seals, birds, corals, sea urchin, sea sponges.

Sculpture Park Kryou Nerou, Agia Napa This national sculpture park in Ayia Napa is a newly sight that visitors should visit as it includes sculptures from world famous artists. Sculptors from around the world came together just to create this magnificent place we all like to visit again and again. The whole idea was suggested by some residents of Ayia Napa and since the Municipality agreed they proceeded to its development. During the past three years, many sculptors

from around the world have expressed their wish of adding their work as well and within this short period it has become an attractive place for tourists and for sculptors as well.

The Farmhouse Agia Napa central square Another attractive sight in Ayia Napa is the Farmhouse, which is opened throughout the year and is situated at the main square of the town.

It represents the traditional farmhouse with all the necessary equipment. The visitor

Thalassa Museum

Folkloric Folkloric Museum Museum

The The Farmhouse Farmhouse

Sculpture Sculpture Park Park

Meletio Historical Museum can see and admire from up close the loom, the wooden wardrobes, the traditional bed with the lace bedcovers, the painted plates used for decoration, the mill, the basket and many more traditional objects used at the time.

Ayia Anna’s Museum Archiepiskopou Makariou III, Paralimni There are three churches right in the centre of the town, two of which are dedicated to St. George. It is also the biggest square in Cyprus that has three churches; one of them, Ayia Anna, is dated back to the Byzantine era. This church belongs to the Antiquity Department and is one of the historical monuments visitors enjoy seeing. It has also been named as a museum since 1985 and includes many religious exhibitions.

Traditional house, 5, Agias Marinas, Paralimni The traditional house in Paralimni is actually an old house, which was built at the

Famagusta’s Famagusta’s Cultural Cultural Centre Centre beginning of 19th century.

There are plenty of exhibitions and creations which show the Cypriot folk art and there are also different constructions that show the peoples’ everyday life. All these exhibitions date back to the mid 19th century and beginning of the 20th century. The objects are also shown in a catalogue and in numbers; the exhibition is divided into different sections.

Famagusta’s Cultural Centre Deryneia The Cultural Centre in Deryneia was built in 1998 near the Green Line and hosts all the manifests of Famagusta Municipality and by many other Organisations. The center also has a canteen and an observatory. The visitor has the opportunity to borrow goggles and see our favourite and occupied land. At the main room of the centre, several videos are shown based on Famagusta and it is a place that locals and tourists enjoy visiting on an everyday basis, as well as Primary and High Schools too.

Meletio Historical Museum Sotira Municipality The museum belonged to the Meleti Family. It’s a house facing south with four arches at the front and it was build in 1835. In January 2008 it began its operation as a museum.

Any visitor will now see old exhibits of Cypriot tradition, old coins and postage stamps of 1879. Its been divided in four rooms and in every one of them you can find exhibits of different kinds. The museum operates daily from 10am to 4pm.

Folkloric Museum 3, Demetri Liperti, Deryneia This museum is inside a traditional house and it was built after the invaluable offer of Mr and Mrs Varnava and Margarita Hadjiliasi, after the early death of their three children. The building is also considered to be preservable and was redesigned by Deryneia’s Municipality. The indoor and the outdoor setup along with all the equipment used,

were placed with the help and guidance of Cyprus’ Handicraft Service and represent the traditional Cypriot house as much as possible.

Other than the traditional housing equipment, one can find different farming tools that families used to have while living in the villages.

Outdoors Folkloric Museum 3, Demetri Liperti, Deryneia It is right opposite the Folkloric Museum and it offers many exhibition venues that represent traditional professions such as, carpenter, shoemaker, tailor, blacksmith, builder, barber, angler, and a farmer’s room. In the semi-outdoor venues, there are also many traditional objects like wagon, harvest machine, threshing machine, boat, a millstone and many more.

At the museum, there is also a kiosk, lounge room and it is a place that attracts many tourists and students. Different cultural events and wedding receptions also take place at the museum.

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STORYBOARD I CL

THE SUCCESS STORY OF

KARMA The The Late Late Founder Founder Of Of Karma Karma Mr. Mr. Charalambos Charalambos Karoullas Karoullas

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With ambitious development plans, Karma Developers are building their Karma and defining their future. In about two years they are expected to complete their pride and joy, Mythical Sands resort & Spa, while they are soon to launch their new brand, Karma Luxury which, according to the company’s CEO, Nicolas Karoullas, will be dealing in luxury homes in privileged locations around Cyprus, designed by award – winning architects and interior designers.

Karma Developers was founded by Pambos Karoullas in 1985, and is part of Karma Group. This is a company with over 30 years of history, which through the professionalism and collective efforts of its employees, has proceeded to the right investments in property, and efficient service to their clients.

A healthy level of competition was and is necessary to our field, Mr Karoullas states: “It keeps us on our toes, striving for the best possible result. Besides, one of our company’s advantages are the right investments that have been made in land, as well as the quality of our construction”.

It always aimed to select the most beautiful seaside locations in Ayia Napa and Protaras, according to Mr Karoullas, who notes that before bringing any new product into the market, detailed studies are conducted so that at any given time, the market’s needs, conditions and demands are met. “Our company wishes to remain faithful to its values and build relationships with its clients. Each project holds its own value, while at the same time adding value to its surroundings”.

Mythical Sands Resort & Spa is a project of which Karma Developers feel particularly proud. It consists of 300 units, apartments and town houses, as well as green areas, tennis courts, playgrounds, a wellness centre, a gym, a cafeteria be successful. Today, 80% of the work has been and two large common swimming pools: “It was a bold move, beginning in the midst of the financial crisis, in 2009.

It has proven, however, that as long as there is a concept behind a project, the dynamic is created for it to completAt the moment, in spite of the ongoing ed, and we expect the resort to reach economic depression, the company has its full completion in two years. It is five undergoing projects, while others Nicolas Karoullas located just 500 metres from the beach, are under advisement: “The financial CEO it offers all amenities and it is very crisis has brought about many difficulaffordable”. ties as well as changes in our field, but on the other hand it has contributed to correcting some of the Concurrently, the company is conducting studies on its conincongruities of the more professional, to us raising our standards of quality and services offered to the client. Our company sequent projects, prioritizing Karma Luxury, which it aims to launch during the following two months. Meanwhile, it is was positively influenced, as we have witnessed the fact that focusing on issuing deeds for all its properties. through the economic depression, buyers have learnt to select the most serious and reliable companies”.

Our company was positively influenced, as we have witnessed the fact that through the economic depression, buyers have learnt to select the most serious and reliable companies”.

Mr. Nicolas Karoullas

COASTAL LIVIN 2018 25

The Allure of Multiple Citizenship In today’s globalized world, individuals live and contact business on an international scale.

The option of a second or even third residence or citizenship, and the freedom that comes with it, is enormously attractive. Countries themselves are also looking for new ways to generate growth, and governments have increasingly become focused on the benefits of offering individuals’ residence or citizenship in return for some form of economic investment.

Cyprus EU Citizenship by Investment Why Cyprus?

Cyprus is a very popular destination for foreign investors to seek for citizenship due to its stable economic environment and European Union member status. Incorporating a prominent political and legal infrastructure, and adopting a highly bespoke taxation system, Cyprus is strategically situated to facilitate strong business and trading relations between EU member states. The cost of living in Cyprus is relatively lower than in many other EU member states such as, Germany, while the country offers high standards of

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living, a good education system for all residents, an excellent value for money on real estate, and low taxation.

A second passport gives a business person access to the global market which in turn, creates opportunities for growth.

PASSPORT TO EU I CL CITIZENSHIP I CL

Obtaining Citizenship in Cyprus through the New Revised Citizenship-by-Investment Program grants you the following benefits. >> Citizenship of an EU member state and as an EU citizen you enjoy the right of freedom movement; freedom to work and study; and security within the social and legal system >> Visa-free travel to 158 countries and territories, including Canada, Hong Kong, and Switzerland >> The citizenship is granted to the whole family – husband, wife and all financially dependent children up to the age of 28. Parents can also be included in the application, provided that they are the owners of residential property in Cyprus of a value of €500,000 >> Lifetime citizenship; can be passed onto future generations by descent >> Fast and simple procedure; only 6 months – However permanent residency is provided in the meantime >> Dual citizenship is allowed >> A simple documentation process for investing, not donating your wealth

other countries >> High standard of living >> European Citizens have the right to attend schools/universities within any EU country for free or with reduced tuition rates, as applicable >> European citizens have the right to protection by the diplomatic or consular authorities of any EU country in a third country (country outside the EU) where your home EU country is not represented by a consulate >> European citizens can access the established first-class EU health care systems >> Cyprus passport is ranked 17th in the world according to the Visa Restrictions Index >> The Investment Citizenship Program is based on a fast-track procedure with reduced time and bureaucracy.

In September 2016 the Cyprus Council of Ministers has approved amendments to the Scheme for Naturalisation that designed to attract foreign direct investment and encourage the use of Cyprus by high-net-worth Individuals.

>> Acquisition of citizenship in Cyprus is not reported to

ement and the Mondialisation movement. In broad usage, the term global citizenship or world citizenship typically defines a person who places.

“Get your Citizenship via Real Estate Investment in Cyprus.

Get in touch with us for a consultation”.

COASTAL LIVIN 2018 27

efficiencies TIME TO CITIZENSHIP 6 Months VISA-FREE TRAVEL 158 Countries RESIDENCY REQUIREMENT None DUAL CITIZENSHIP Permitted EXIT STRATEGY 3 Years FAMILY Spouse & dependents up to age 28 ELIGIBILITY All Nationalities TAX CONSEQUENCES None

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Among the countries offering citizenship programs, Maltese and Cypriot passports offer visa - free access to the most countries.

PASSPORT TO EU I CL

live, work and travel anywhere in the EU >> >> >> >> >> >> >> >> >> >> >> >> >> >> >>

Austria Belgium Bulgaria Croatia Cyprus Czech Republic Denmark Estonia Finland France Germany Greece Hungary Ireland Italy

>> Latvia >> Lithuania >> Luxembourg • Malta >> Netherlands >> Poland >> Portugal >> Romania >> Slovakia >> Slovenia >> Spain >> Sweden >> United Kingdom *EU citizens also enjoy these rights in Iceland, Lichtenstein and Norway which participate in the Europe an Economic Area (EEA) and have some rights in Switzerland as well.

COASTAL LIVIN 2018 29

How to Get the Citizenship

“The Government has devised different incentives to attract foreign investment. One of these is a EU Citizenship-by-investment program”.

Real Estate This option requires an applicant to acquire at least EUR 2 million on real estate (residential, commercial or infrastructure projects). It’s obligatory one of the properties to be used as the main resident of the applicant and the minimum value must be EUR 500.000 plus 5% vat.

Purchase, creation or participation in Cypriot businesses or companies The applicant must make an investment of at least EUR 2 million in the purchase, creation or participation in businesses or companies in the Republic. These businesses or companies should have a demonstrable and tangible presence in Cyprus and employ at least five Cypriot citizens up to the value of EUR 2m.

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Main Requirements

Keep investments in the country for a minimum of 3 years Hold a privately owned permanent residence in Cyprus of a minimum value of €500,000 + applicable VAT. If investment is made in residential property, this requirement is not applicable.

PASSPORT TO EU I CL

Documents Needed >> Birth certificate, together with the relevant English translation. True copy of the original, certified by a certifying officer. >> Wife’s birth certificate, together with the relevant English translation. (if applicable) True copy of the original, certified by a certifying officer. >> Marriage certificate, together with the relevant English translation. (if applicable) True copy of the original, certified by a certifying officer. >> The original Certificate of a clean criminal record. >> Wife’s certificate of clean criminal record. (if applicable) Original >> Passport. Copy >> Wife’s passport. (if applicable) Copy >> Children’s passports (if applicable) Copies >> Proof of current residence Copy >> For the purchase of property: Contract of sale, Title Deeds/Receipt of filing the Contract with the Land Registry. Original Current Residence Permit (if applicable) Copy >> Company profile (if applicable) Copy >> Advertisement in local newspaper (2 continuous dates) Original

“you are one step ahead from becoming a european citizen” COASTAL LIVIN 2018 31

Procedures and Time Frame In a globalized economy where multinational companies are pressed to maintain and increase quality while cutting costs to meet increasingly higher client expectations, Cyprus provides a complete value proposition.

Step 1 – Review and Select Qualifying Investment Our market intelligence team has conducted extensive research on the real estate market and can advise on unique or specific searches and present investment options that have passed our due diligence.

Step 2 – Preparation of Citizenship Application The client will receive a detailed application package and checklist of the documents that must be collected and submitted with the application. While the checklist includes various documents, the most time-consuming may be requested ahead of time, such as birth certificates, marriage and divorce certificates, as well as police clearance certificates from your country of origin and residence if difference.

Step 3 – Acquire Pre-Approval Step 4 - Citizenship Application submitted to Government Once a citizenship application is submitted to the Ministry of

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Interior, it is forwarded to the Ministry of Finance for examination of the final criteria. Once clearance from the Ministry of Finance is given, the applicant must finalize the investment.

Once the Ministry of Interior is satisfied, the application is routed to the Council of Ministers for ratification.

Step 5 – Issue of Cypriot Citizenship Certificate Once ratified by the Council of Ministers, a Citizenship Certificate is issued. Once this is available, you will need to visit our offices in Cyprus where we will lead you through the final steps. You will take an Oath to the Republic and have your Citizenship Certificate stamped. With the stamped Citizenship Certificate at hand, we are then able to facilitate the application for your biometric Cypriot (EU) passport and ID which can be issued in a fast-track process of two to three hours, and you can then immediately enjoy the benefits of being an EU citizen.

Step 6 – Naturalization of Children and Parents Step 7 - Completion of Acquiring Property

PASSPORT TO EU I CL

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harris georgiades

PORTRAIT I CL

Cyprus is an island of stability and opportunity Cyprus’s finance minister Harris Georgiades, discusses the prospects for the country’s economy Cyprus exited the economic adjustment programme last March, during which the country emerged from recession, stabilized its financial sector, and consolidated its public finances. Do you believe that many challenges still remain?

without excessive deficit spending which I consider as unsustainable.

Cyprus has indeed achieved a remarkable recovery. The major problems which lead Cyprus into a crisis a few years back have been tackled. Cyprus now enjoys one of the highest growth rates in the EU, near 3.25% of the GDP. The banking sector has healed to a significant extent and we are operating with a balanced budget. But we are not and should not become complacent.

Unemployment has come down significantly, but is still high at 10.3%. This shows that we still have some way to go.

Obviously, we must try to fully utilize our potential as an economy. Likewise, the high level of private indebtedness, a legacy problem of the period of unsustainable credit expansion of the past decade, still requires time and effort. So, the efforts must continue.

What is important to realize is that any economy which wishes to retain its competitive edge must be engaged in a never-ending reform effort and this is exactly the direction of government policy.

Despite the strong recovery of our economy, we acknowledge that we can do better. So, we shall continuously strive to create an economic environment which is even more friendly and supportive to business and investment and a public sector which is more efficient and less costly. During the last four years, we have promoted significant reforms in the financial sector, the welfare system, tax administration and public financial management. Next steps include a reform of the investment funds sector and of the insurance and pensions funds sectors, a reform of local government and of the health care system and a simplification of the licensing process for new business.

What is the government’s reform agenda from now and on?

Once the right policy mix was introduced and a sense of confidence was restored, the recovery kicked in. Cyprus has shown that it has an adaptive and competitive economy and has been able to attract significant investment.

The end of the support programme also means the end of the government’s efforts to maintain strict fiscal policies?

Not at all. Since 2014 we are operating with an essentially balanced budget and this also applies to 2017.

In my view a balanced budget is not synonymous to austerity, it is synonymous to common sense. Especially for a country which, in the recent past, was running unsustainably high deficits. And we have demonstrated that economic recovery and growth can be achieved

Three and a half years after this remarkable recovery how do you explain that even during the peak of its troubles in 2013, the economy of Cyprus never lost its potential?

I believe it all comes down to the resilience and good prospects of the productive sectors of the economy.

The problems were very serious but they were specific.

Once the right policy mix was introduced and a sense

COASTAL LIVIN 2018 35

PORTRAIT I CL

of confidence was restored, the recovery kicked in.

Cyprus has shown that it has an adaptive and competitive economy and has been able to attract significant investment. But I would also refer to the direction of our economic policy which I would characterize as growth friendly. We ensured that our tax system would remain stable and attractive. We had a major task of balancing the budget but we did this without raising taxes, instead we reduced government expenditure. In fact, we have been able to offer significant tax breaks.

Taxes on employment and taxes on property have been reduced significantly and tax incentives for all new equity investment have been introduced. Town planning incentives have also been introduced. And of course, the banking sector has undergone a significant restructuring which has enabled it to operate in a manner which is supportive to economic activity.

This policy has offered clarity and confidence which is exactly what investors need and expect.

potentials for further grow?

Definitely. What is very encouraging is that all the key productive sectors of our economy are now contributing to the growth and recovery of our economy. But the recent influx of very sizeable foreign direct investment across the sectors confirms the potential to grow further. For instance, over the next few months, work on an integrated casino resort will commence, following licensing to a consortium from the US and Hong Kong.

This will in fact be the largest in Europe. Work on a multi-million new Marina project has also commenced recently, led by an Egyptian group. There has been significant investment in the pharmaceuticals industry, the retail sector, the hotel industry and the property sector. The operation of the Port of Limassol has recently been awarded to foreign investors from Germany and Dubai and this is expected to lead to new business and investment opportunities. And of course, there has been major foreign investment in Cyprus banks, something which offers a very strong confirmation of the prospects of the Cyprus economy. Essentially, Cyprus is an island of stability and opportunity. It has successfully recovered but has the potential to move even higher and towards this direction government and industry are working in partnership.

We ensured that our tax system would remain stable and attractive.

Key industries like business and shipping continue to perform strongly, while at the same time the tourist industry is experiencing record performances and the real estate sector shows signs of recovery. Do you believe that there are

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KARMA HOLIDAYS

... A PROMISE FOR FABULOUS LIFETIME MEMORIES! Looking back reminiscing fabulous memories is not optional, it's a choice.

Choosing the right holiday villa is not always easy, but everything becomes easier when choosing Karma Rentals.

Because everybody wants to remember fabulous memories afterall.

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KARMA RENTALS

.

www.karmarentals.com.cy I +357 23 730777

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Karma Developers

Karma Group of Companies Karma Group of companies is a fast growing group of companies, specialising in many areas including real estate developments, hospitality and product distribution. It consists of seven individual companies that are successfully cultivating with high standards.

The first member and leading company of the Group, Karma Developers, was established in 1985 and is now a member of the Karma Group of Companies, a property development, construction and Investment Company; one of the leading and evolving groups in Cyprus.

TLC Property Management was created to give our clients the Tender Loving Care that was needed to their properties and to help them make the best of their investments by offering a huge range of services including, property rentals, Property Management and Cleaning.

The second company of the Group, Karma Hellas was formed to offer turnkey apartments for students, investors and permanent residence right in the heart of the city of Athens.

In entertainment and hospitality, Karma Group introduced The Eden Square, a multiplex area that was established in 2004 and today has become a landmark for the tourist

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THE GROUP I CL

and hospitality industry in the island, offering tasty, local and international dishes in several resident restaurants, amazing cocktails & nightlife entertainment.

In its family, Karma Group established Multiflow in 1991 and is based in the city of Larnaca, Cyprus.

The main activities of the company is to provide mechanical engineering studies, designs, installations and maintenance.

Lastly, Athens Cypria Hotel, a friendly, quiet and cosy 3 Star Plus hotel, ideally situated in Athens’ vivid city centre in Greece.

Karma Rentals Established in 2003, Karma Rentals aims on promoting and renting holiday property.

It arranges for welcome packages, and ensures for the guest comfort by providing assistance during the stay.

Karma Construction Karma Construction was created in 2016, and in undertakes the constructions for simple and complex buildings. It has all the necessary guarantees, well-trained scientific personnel and machinery.

Karma Charity Established in 2010, Karma Charity has a main concern the consumer awareness.

It organises annually events in order to help different sensitive groups.

Athens Athens Cypria Cypria Hotel, Hotel, Greece Greece

COASTAL LIVIN 2018 39

Eden Square

EDEN SQUARE A must visit place in cyprus If you want a little taste of heaven, eden square is the place to be!

Situated in the heart of Protaras, Eden Square serves as an oasis for hungry and thirsty travellers. The tempting scents coming from our restaurants, the relaxing sound of running waters from the fountains and the eye-pleasing decoration of the Square, create an intoxicant environment satisfying each and every sense of yours, and making you feel like you are in the garden of Eden. Eden Square offers a variety of choices, from healthy Japanese meals prepared before your eyes by our humorous and talented chefs, to

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spicy dishes in a Mexican flirtatious manner. Eden Square aims to please even the most demanding customer.

Our Eden’s “forbidden fruit”, the “Nalu” cocktail bar, surrounded by lounge music and the latest hits, create an atmosphere suitable but most of all enjoyable for all ages.

Finish your journey in the middle of this amphitheatrically situated scenery with a cool beer in your hand or a refreshing cocktail, or with a relaxing tea or Cypriot coffee while your children enjoy our playground, situated just behind

NIGHT OUT I CL

the Square. After all, Eden is made for everyone!

Eden Square is also available for birthday parties, wedding receptions, anniversaries or any other event you wish to celebrate. Our staff will make sure to make your special moment more magical! If you want a little taste of heaven, Eden Square is the place for you!

KAMAKURA JAPANESE RESTAURANT Temples and proximity to Tokyo make the coastal city of Kamakura a popular tourist destination.

From our journey there we kept the wonderful authentic Japanese tastes which we serve you in the most innovative and entertaining way: fresh ingredients prepared right in front of you by our professional chefs who put on a live cooking show with playful tricks, and follow your own personal guidelines and preferences for the preparation of your meal. With a variety of choices between, steamed, deep-fried, grilled or simmered dishes, as well as the famous sushi served on a wooden boat, it is almost impossible for anyone to leave unsatisfied by the sushi bar and the particular and delicious cuisine of our Japanese restaurant. Kamakura combines gastronomic excellence with artistic presentation, quality service, tranquility and pleasure, offering you an unforgettable night.

EL CHICO MEXICAN RESTAURANT This is definitely the most exciting Mexican restaurant in Cyprus. El Chico is your fun, festive, casual Mexican restaurant. It has always been known for

Nalu Coctail Bar

Tavernaki a relaxed dining experience with warm gracious service where every guest is made to feel welcome. At El-Chico we take real pride in serving our guests authentic Mexican dishes made with the finest & purest ingredients available such as, salsas that are made fresh throughout the day to ensure the ultimate flavour, guacamole which is prepared with only perfectly ripened avocados and, sizzling fajitas prepared to order, in the traditional Mexican way. Do not miss the refreshing strawberry margaritas, the spicy dips, the crispy Nachos and a variety of meat, fish, chicken, pasta or vegetable dishes that will add a colourful flavour to your dining and will grant you an unforgettable night. Viva La Mexico!

El Chico Mexican Restaurant

NALU COCKTAIL BAR Nalu is the Hawaiian word for “wave” and there is a saying “Nalu it” that means “go with the flow” but also be mindful; be present. As every person who learns to swim in the ocean knows, you don’t fight with the waves, you ride them. At Eden Square we chose to work with purpose, passion and full intention to offer you a different environment where you can enjoy our exclusive cocktails and exotic hookahs and to feel enchanted with deep house music. Nalu is the name of that woman who can be wild and calm as the waves are. So, this summer go with the flow.

“Nalu it”!

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THE 10 I CL

Transportation

Quality of Life Cyprus offers an enviable lifestyle in a clean and healthy environment with a high standard of living. Living and working in Cyprus are directly related to fabulous weather, beautiful nature, art and culture, safety, security, and above all, hospitable and warm people. It is the combination of all these factors that makes the experience of living on the island extremely desirable and attractive. The balance between work and family part of everyday life, is unique and truly difficult to match. Human Development Index Report 2013 ranked Cyprus31st out of 187 countries for the quality of life.

EU Member The Republic of Cyprus became a full member of the EU on May 1st, 2004. Accession to the EU was a natural choice for Cyprus, driven by its culture. Accession to the EU and the Eurozone launched a new era of commitment to quality and growth in Cyprus. Furthermore, the country continues to encourage Foreign Direct Investment opportunities in priority economic growth sectors

Shipping Cyprus has one deep-sea port in Lemesos which expands over 1.3 square kilometres. Operations have begun to also transform the Larnaca port into the second deep-sea port on the island. Given its location and infrastructure.

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Oil & Gas

Recently, the discovery of natural gas resources and possibly oil, has further upgraded the strategic importance of the island, which is also considered to be a stabilizing factor in the region’s political developments.

Strategic location Cyprus is Europe’s eastern outpost at the crossroads of three continents - Europe, Africa and Asia - providing a gateway to and from each one of them. The country’s geographical location has been considered of strategic importance in global trade for thousands of years.

Two international airports, a modern road network and multipurpose port facilities have long established Cyprus as a commercial, financial and business centre in the region. One can be in London, Moscow or Dubai in about four hours from Cyprus. Daily flights are connecting Cyprus with the main cities around the world.

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Excellent Education

Since joining the EU in 2004, the number of foreign students studying in Cyprus has doubled and the country has ambitious plans to develop the island into a regional education center. Today 30% of students, around 8,000, are foreigners – a figure which highlights the great opportunities that exist in Cyprus for the establishment of new international universities, colleges and research institutes.

REASONS TO INVEST IN CYPRUS Taxation Professional service Cyprus provides high level and top quality professional services, including accounting, auditing, tax, business administration, legal, investment and funds management.

It s considered as a business hub for many international organisations.

Cyprus offers one of the most attractive tax systems in Europe provides a simplified, effective and transparent tax regime that is fully compliant with the EU laws and regulations.

Regulatory Framework

The country’s legal framework is widely recognized as a business-friendly and effective system, that allows for reliable and transparent business practices.

Cyprus has a comprehensive, modern and forward-looking legal and regulatory framework based on UK Common Law principles.

www.timinis.com

NICOSIA: 22 762346 | LIMASSOL: 25 335066 | LARNACA: 24 657605 | PAPHOS: 26 946776 | AYIA NAPA: 23 725999

Year 2018

karmadevelopers.com

THE GREAT ISLAND OF

CYPRUS Cyprus is the one of the world’s most popular islands for both holidays or living residency.

HARRIS GEORGIADES Cyprus’s finance minister Harris Georgiades, discusses the prospects for the country’s economy

THE ALLURE OF MULTIPLE CITIZENSHIP

A second passport gives a business person access to the global market which in turn, creates opportunities for growth

10

Reasons to invest in Cyprus

THE SUCCESS STORY OF KARMA

Karma Developers are building their Karma and defining their future.