Karma Overview Brochure

INVESTORS GUIDELINE TO

OVERVIEW & GENERAL ENQUIRIES

THE CYPRUS INVESTMENT PROGRAM

Karma Developers

Member of the Registry of ServiceProviders

THE PEARL OF THE MEDITERRANEAN CYPRUS

Its strategic location and natural beauty have made Cyprus a jewel of the Mediterranean throughout the ages. With its attractive EU citizenship and residency programs, global citizenship through Cyprus offers both advantageous investment opportunities and an excellent quality of life.

OVERVIEW & GENERAL ENQUIRIES CYPRUS OVERVIEW

02

LIVING IN CYPRUS

04

INFRASTRUCTURE

06

BUSINESS IN CYPRUS

08

TAXES AND FEES

10

CITIZENSHIP

12

CITIZENSHIP PROGRAM

14

RESIDENCY PROGRAM

16

PERMANENT RESIDENCE

19

REAL ESTATE

20

PROJECTS MAP

42

BUYING PROCESS

44

ABOUT US

46

KARMA VISION

47

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CYPRUS OVERVIEW

CYPRUS OVERVIEW Cyprus is the third largest island in the Mediterranean Sea, located at the eastern end of Europe, at the crux of the busy shipping and air routes linking three continents, Europe, Africa and Asia. The island, through its rich history of more than 10.000 years, has developed from its classical maritime communities into a modern and thriving European Union state, offering a myriad of opportunities for both economic growth and enviable quality of life.

This small but dynamic country has long established a reputation as a “centre of excellence� for international business activities, retaining unique clusters of expertise and service capability to support key growth sectors of the economy. Cyprus has a modern, free-market, service-based economy with an effective and transparent regulatory and legal framework offering international investors and domestic businesses confidence to invest, grow and prosper.

COUNTRY RANKINGS

1

st

Safest Small Country Worldwide

3

rd

Lowest Corporate Tax Rate in the EU

th

5

5

th

Best Relocation Destination Worldwide

Safest Country of Any Size Worldwide

11

th

Healthiest Country in the World

19

th

Worldwide in Education Expenditure per GDP

CYPRUS OVERVIEW

CYPRUS QUICK FACTS

CAPITAL

LANGUAGES

AREA

NICOSIA

ENGLISH GREEK

9251km2 QUALITY OF LIFE Cyprus offers visitors a wonderful living

POPULATION

1,179,551 (2017 est.)

experience that combines a comfortable and stress-free way of life with a modern and sophisticated environment, ideal for people seeking the perfect balance between business and pleasure. High quality of life

TIME ZONE

UTC

+2

is without a doubt one of Cyprus’ most compelling advantages. Indicatively, the island was ranked as the 5th best relocation destination worldwide by the 2013 Knight

CONSTITUTIONAL GOVERNMENT

DEMOCRATIC REPUBLIC

Frank Global Lifestyle Review, while Limassol, the second biggest city in Cyprus has been ranked 4th best retirement destination globally by the 2016 Knight Frank Global Lifestyle Review.

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04

LIVING IN CYPRUS

LIVING IN CYPRUS N

POLIS TROODOS

PAFOS LIMASSOL

Akamas

Since its settlement by Mycenaean Greeks in 1400-1300 BCE, Cyprus has developed a unique identity, harmoniously blending influences from different civilisations. This rich historical and cultural landscape is reflected in the hundreds of historical sites scattered throughout the country, representing various periods and cultures in the island’s evolution.

Cyprus Meze

Cypriots are known worldwide for their genuine and sincere friendliness and hospitality, as well as the famous Cypriot cuisine, such as the “Cyprus Meze”, which consists of many different cold and hot dishes such as assorted dips, salads, meats, vegetables, as well as various fish delicacies.

LIVING IN CYPRUS

NATURAL BEAUTY AND CLIMATE Cyprus has a pleasant Mediterranean climate with

NICOSIA

year-round sunshine. Stunning coastlines, golden sandy AMMOCHOSTOS

beaches and clear, blue waters, coexist harmoniously with glorious mountains of wild natural beauty and peaceful, picturesque villages. Sports enthusiasts can ski in February, swim and kite surf until December, and AYIA NAPA

bicycle, golf, and play tennis all year.

LARNACA Surrounded by the clear waters of the Mediterranean, Cyprus also boasts a clean and healthy land environment, having extremely low industrialization and large percentages of agriculture and forests. Alternative power is highly promoted with solar water heaters to be found on every roof. In 2015 Cyprus’ famous beaches were awarded with 57 Blue Flags, the international standard for cleanliness and amenities, ranking the island first in the EU for the tenth consecutive year, including three records: • Most Blue Flags per capita in the world • Most dense concentration of Blue Flag Beached in Ayia Napa, Protaras • Most Blue Flag beaches per coastline

Deryneia Museum

With a buzzing cosmopolitan environment, arts and culture are flourishing with museum nights, local and international festivals, and exhibitions taking place at both modern and ancient venues, such as historical open-air amphitheatres. Vibrant nightlife, with plenty of restaurants, clubs, theatres, and concerts, caters to all tastes and lifestyles.

Ayia Napa

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06

INFRASTRUCTURE

CYPRUS INFRASTRUCTURE

The island benefits from a well-advanced and modern infrastructure, that makes day-to-day life easy, cost-effective and efficient. It is home to sophisticated roads with multiple lanes which allow for faster and efficient movement between points. These roads complement Cyprus’ two-world class international airports; One in Larnaca and the other in Paphos which see approximately 10 million visitors come to the island. These airports also play a pivotal role in linking Cyprus with numerous global destinations.

INFRASTRUCTURE

SAFETY Cyprus offers an extremely safe living environment, with low stress levels and crime rates, ideal for a peaceful family life. Acknowledging the island’s safety and security standards, Value Penguin has ranked Cyprus 5th worldwide and 1st among smaller Countries in its Safest Countries in the World study for 2015.

EDUCATION Third country nationals relocating to Cyprus do not have to worry about language and education.

Cyprus is 19th worldwide for education spending per capita and offers a multitude of high calibre schools. English is widely spoken in Cyprus and most people are bilingual. The country offers excellent multilingual educational institutions, where courses are taught in English, French, German, Russian, Italian, and other languages.

HEALTH Cyprus, along with its clean environment and healthy cuisine, also has a robust health system and was ranked 11th healthiest country worldwide in 2015 per Bloomberg. Hospitals and clinics are numerous and affordable and Cyprus has become premier retirement destination for UK and EU residents.

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08

BUSINESS IN CYPRUS

BUSINESS IN CYPRUS

STABLE LEGAL SYSTEM

STRATEGIC GLOBAL LOCATION

Based on English Common Law Principles Effective International Business Systems

A Nexus for International Travel and Trade between Asia, Africa and Europe

INCENTIVIZED TAXATION SYSTEM

RELIABLE INFRASTRUCTURE

Corporate tax rate of 12.5% Comprehensive double taxation agreements

Stable European Government Excellent Hard and Soft Infrastructure

INFRASTRUCTURE

Cyprus has long established itself as a thriving business hub, with a vast array of investment opportunities in key growth sectors of the economy.

The island’s ideal strategic location, advanced infrastructure and high quality of life do not only represent key reasons to relocate and live in Cyprus, but are also at the heart of its attractiveness to investors.

Capitalising on its competitive advantages, driving and enhancing both traditional and new economic

STRATEGIC LOCATION

sectors and continuously improving and enhancing its business environment, Cyprus has developed into a

The island is an ideal investment gateway to the

destination of choice for doing business.

European Union, as well as a portal for investment outside the EU, particularly into the Middle East, India and China. As a member of the wider EU and Eurozone community, Cyprus ensures safety and stability for investors, while also offering them market access to more than 500 million EU citizens.

HUMAN TALENT Human talent probably constitutes Cyprus’ most compelling advantage, complemented by a broad

LEGAL SYSTEM TRANSPARENCY

range of high quality professional services. As a dynamic business centre, Cyprus offers an abundance

Cyprus’ legal system, based on English Common Law

of highly educated and skilled individuals, multilingual

principles, is widely recognised as a business-friendly

in their majority, ready to serve the needs of any

and effective system that ensures transparency and

business.

reliability in business practices. Offering foreign businesses a familiar and reliable framework within

Cyprus, indeed, has all the right ingredients to

which to operate, Cyprus’ legal system is also fully

maintain a strong and resilient economy, due to its

compliant with the EU, the Financial Action Task Force

small size, productive labour force, business friendly

on Money Laundering (FATF), OECD, FATCA, the

and flexible government.

Financial Stability Forum laws and regulations and EU AML directives.

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10

TAXES AND FEES

DOING BUSINESS IN CYPRUS TAXATION CORPORATE TAX

12,5%

(3rd Lowest in EU)

TAX DIVIDENS

NONE

Cyprus always endeavours to keep a clear and simple structure for taxation and fees when it comes to both business and property. Here you will find the most commonly asked questions regarding the taxes and fees surrounding owning a house or business in Cyprus. We

DOUBLE TAXATION RELIEF

TREATIES

are, of course, always happy to answer any additional questions you may have.

Why is it most preferable to register a new company (regarding taxation purposes), in Cyprus rather than another EU country? Here we summarise some tax facts for a Cyprus company.

INHERITANCE TAX

NONE

TAXES AND FEES

TAXATION OF DIVIDENDS Dividends received by a non-Cyprus Resident Company are also exempted from SDC (if the dividend paid out from less than 50% investment income). If not exempted dividends are subject to 17% SDC. Dividends received by a Cyprus resident company are exempted from corporation tax (whether received from a company situated in

WITHHOLDING TAX

Cyprus or abroad).

DIVIDENDS Dividends received by a Cyprus Resident

Dividends paid to a non-resident (individual and

Company are also exempted from SDC, unless the

company) are NOT subject to withholding tax. No tax

dividends are paid out of profits that are more than

is imposed on the payment of dividends to individuals

4 years old.

who are Cyprus tax residents but are not domiciled in Cyprus.

CAPITAL GAINS INTEREST Gains derived from the sale of shares are exempted.

No withholding tax is imposed on interest paid to a

Capital Gains tax is imposed on gains derived from the

non-resident. Interest paid to a resident is subject to

disposal of property situated in Cyprus (and gains from

SDC deducted at source at a rate of 30% (3% on

the disposal of shares of unlisted company that owns

government bonds). No tax imposed on the payment

immovable property situated in Cyprus).

of dividends to individuals who are Cyprus tax residents but are not domiciled in Cyprus.

COMPANY REGISTRATION FEES ROYALTIES The cost for the registration of a Cyprus company

Royalties paid to a non-resident are subject to a

amounts to approximately Euro 1.500 plus VAT.

withholding tax of 5% on film royalties and 10% to other royalties. Royalties paid to a non-resident for

RENT

the use of rights outside the Republic.

Rent paid by a Cyprus resident company is subject

No withholding tax on the payment of royalties by a

to SDC at a rate of 3% on 75% of the gross rental

resident company to another resident company.

income. The tax is withheld at source. No tax imposed on the payment of dividends to individuals who are Cyprus tax residents but are not domiciled in Cyprus.

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12

CITIZENSHIP

CITIZENSHIP CYPRUS INVESTMENT PROGRAM The Cyprus Investment Program it is the only program issued in just 6 months. This dual Citizenship offers an effective tool for international tax planning and provides financial privacy for banking and investments.

It improves personal security, enables freedom of movement and allows access to the best healthcare and education opportunities.

Dual citizenship offers an effective tool for international tax planning and provides financial privacy for banking and investments. It improves personal security, enables freedom of movement and allows access to the best healthcare and education opportunities.

CITIZENSHIP

WHY CYPRUS?

FAST

6 MONTHS TO CITIZENSHIP

SAFE

NO TAX CONSEQUENCES

GAIN

3-year exit plan

VISA-FREE TRAVEL TO COUNTRIES

148

Dual Citizenship

You and Your Spouse

WHO IS ELIGIBLE FOR CITIZENSHIP? WHO?

Children under 18 Years

Dependent Adult Children up to 28 Years

Parents of the Applicant & Parents-in-law of the applicant

Citizenship is passed on by descent, thus offering a legacy to future generations.

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CITIZENSHIP

EU MEMBER COUNTRIES AUSTRIA 3.5 Hours

GREECE 1.5 hours

PORTUGAL 8 Hours (1 stop incl.)

BELGIUM 7 Hours (1 stop incl.)

HUNGARY 3 Hours

ROMANIA 3 Hours

BULGARIA 2 Hours

IRELAND 5.5 hours

SLOVAKIA 8 Hours (1 stop incl.)

CROATIA 5 Hours (1 stop incl.)

ITALY 3 Hours

SLOVENIA 6 Hours (1 stop incl.)

CZECH REPUBLIC 5.5 Hours (1 stop incl.)

LATVIA 4 Hours

SPAIN 7 Hours (1 stop incl.)

DENMARK 7 Hours (1 stop incl.)

LITHUANIA 6 Hours (1 stop incl.)

SWEDEN 7 Hours (1 stop incl.)

ESTONIA 6 Hours (1 stop incl.)

LUXEMBOURG 6 Hours (1 stop incl.)

UNITED KINGDOM 5 Hours

FINLAND 6 Hours (1 stop incl.)

MALTA 2 Hours

4.5 hours

IRELAND UNITED

BELGIUM

LUXEMBURG

FRANCE

PORTUGAL

FRANCE 4.5 Hours

NETHERLANDS 4 Hours

GERMANY 4 Hours

POLAND 3 Hours

UNRESTRICTED RIGHT TO LIVE, WORK, TRAVEL, AND STUDY ANYWHERE IN THE EUROPEAN UNION.

The above distances are measured in flight time

NETHERLANDS

KINGDOM

SPAIN

CITIZENSHIP

SWEEDEN

FINLAND

ESTONIA

EUROPE

LATVIA DENMARK LITHUANIA

POLAND GERMANY

3.5 hours

CZECH REPUBLIC SLOVAKIA

AUSTRIA HUNGARY

SLOVENIA

CROATIA

2.5 hours

ITALY

ROMANIA

BULGARIA

ASIA

1.5 hours GREECE

MALTA

CYPRUS

AFRICA

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CITIZENSHIP PROGRAM

PROGRAMME SPECIFICS ACQUIRING CYPRIOT CITIZENSHIP NATURALISATION OF INVESTORS IN CYPRUS BY EXCEPTION

CRITERIA AND CONDITIONS

ADDITIONAL INFORMATION

Privately own a primary residence in Cyprus valued

The programme takes 6 months, both for the

at €500,000 (+VAT) or more

residency permit and for the citizenship.

AND

The investment in government bonds is restricted to €500,000

Invest at least €2,000,000 in the following areas: The exit strategy for the programme is 3 years but a - Land development, real estate, and infrastructure projects* - Financial assets of Cypriot companies or organisations

primary residence of at least €500,000 (+VAT) value must be maintained in Cyprus to keep citizenship.

If the investor does not have a Cyprus residency permit, the application for residency will be submitted simultaneously with the application for citizenship.

- Alternative Investment Funds or financial assets of Cypriot companies/organisations that are licenced

Parents of the applicant may purchase a joint

by the Cyprus Securities and Exchange Commission

permanent residence with the parents-in-law of the applicant (investment amount of €500,000 + VAT each)

- Combination of the above criteria, which can also include investment in government bonds of up to €500.000 *If the investment is made only in residential real estate, there is no requirement of an additional primary residence of €500,000 (+VAT) so long as at least one of the investment properties is worth at least €500,000 (+VAT).

so long as that property is valued at €1,000,000 (+VAT).

CITIZENSHIP PROGRAM SIMPLIFIED PROCESS

CYPRUS INVESTMENT PROGRAMME APPLICATION

01

02

03

04

INVESTMENT

2 WEEKS PREPARATION

6 MONTHS

1-3 DAYS

- Our experts prepare Citizenship Application File

- Ministry of Finance review docs

- Applicant Visits Cyprus

- Prepare supporting documents

- Pre-Approval

- Certificate of Naturalisation

- Investment minimum €2.0 million in real estate - Purchase residence - Remaining amount can be invested

- Submit Application to Ministry of Interior

- Ministry of Interior conducts due diligence

- Delivery of Passport

- Application Approved

Engage Cyprus Global Citizens

Citizenship Application

Council of Ministers Approval

Provide Biometric Data & Insurance of Passport

6 MONTHS

WHY WORK WITH US?

100% Success Rate: Problem Solving, Integrity, Honesty

Due Diligence Background Check: Maintaining strict client confidentiality

Government Approved Citizenship Representatives

Over 100+ Successful Cases

Real Estate Developers & Immigration Advisory Group

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CITIZENSHIP PROGRAM

INVESTMENT OPTIONS

PERMANENT RESIDENCE

+

Privately own a primary residence in Cyprus valued at €500,000 (+VAT) or more

€1,500,000+VAT

€2,000,000+VAT

€2,000,000+VAT

€2,000,000+VAT

€2,000,000+VAT

Residential Real Estate

Commercial Real Estate

Cyprus companies or organizaitons

Alternative investment funds

Mixture of the above

€2,000,000

€2,500,000

€2,500,000

€2,500,000

€2,500,000

+VAT

+VAT

+VAT

+VAT

+VAT

TOTAL INVESTMENT

TOTAL INVESTMENT

TOTAL INVESTMENT

TOTAL INVESTMENT

TOTAL INVESTMENT

6 MONTHS

PERMANENT RESIDENCE

PERMANENT RESIDENCE ACQUIRING CYPRUS IMMIGRATION PERMIT/EXPEDITED PROGRAMME

CRITERIA

PLEASE NOTE:

-

This expedited process takes 3 months.

Purchase residential real estate of total market value of at least €300,000 (+VAT) of which, at the time of application, at least 2/3rds is paid.

If you or your spouse is an EU citizen or has a parent who is a Cyprus citizen, contact your local embassy to enquire

-

Deposit of at least €30.000 into a Cyprus bank account,

about Cyprus residency regulations.

pledged for a period of at least three years.

The Immigration Permit does not allow the undertaking of -

Provide evidence of a secure annual in come of at least

any form of employment in Cyprus.

€30,000 + €5,000 for every dependent person (spouse and children) and + €8.000 for every dependent (parent or

Holders of an Immigration Permit must visit Cyprus once

parent-in-law).

every two years.

Non-financially dependent children of the applicant over

TRAVEL VISA INFORMATION

the age of 18 may also be granted residency, so long as the market value of the acquired real estate is increased

When you wish to visit Cyprus during this process you may need to acquire a short-term visa, which allows you 90 days to visit the island. Cyprus has visa free and visa on arrival (VoA) agreements with 146 countries but many nationalities still need to acquire a visa before entering Cyprus. To know the exact requirements to obtain a short-term visa to Cyprus you will need to contact the Embassy or Consulate of Cyprus in your country or visit their website. However, the general procedure remains similar in all countries.

VISA FEES Single Entry Visa: €20 Multiple or Double Entry Visa: €60

by at least €300.000 (+VAT) for each child

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REAL ESTATE

INVESTMENT IN REAL ESTATE Diversified Portfolio

PRIMARY RESIDENCE The Cyprus Investment Citizenship Programme requires that the investor purchase a primary residence in Cyprus of at least â‚Ź500,000 (+5% VAT) value. This property can be used as your residence, vacation home, or simply an investment property for long or short term rental. To maximise the 5% reduced VAT rate, your primary residence should be the most expensive in your portfolio.

INVESTMENT PACKAGE OPTIONS

REAL ESTATE

BUY YOUR LUXURY MANSION

ATOPETRA

ICON SIGNATURE

Purchasing a single mansion as your first primary residence in Cyprus will fulfill the investment requirements of the citizenship programme and incur only 5% VAT on the entire investment. This is the best choice if you wish to acquire EU citizenship and live or vacation in opulence while in Cyprus.

INVEST IN VILLAS

IONION SEAFRONT VILLAS

MILOS SEAVIEW VILLAS

Four villas are a strong choice for investment. Villas are on the coastline with high specifications, swimming pools, and within a walking distance to the beach. The purchase of Villas, can be considered as an excellent investment, considering the satisfactory ROI of the rental market.

INVEST IN THE TOURISM SECTOR

The package includes a villa, plus a commercial-hotel investment option. The investment options are usually referred to the purchase of existing hotels or shareholding packages in hotel projects. Karma Group manages these information as confidential and are only revealed after serious interest.

MIXED PROPERTIES

Owning a varied mixture of villas and apartments allows you to have a more diverse income flow for rentals and ensures that, when you choose to sell your properties, you will have multiple markets available. This often includes two or three villas and a bundle of apartments.

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REAL ESTATE

HARISSA MANSION - CUSTOM MADE HOMES Harissa mansion, is a 4-bedroom house designed to an exceptionally high standard. This wonderful mansion offers substantial, well-proportioned and beautifully presented accommodation and benefits from luxurious features such as playroom/cinema, roof garden which includes jacuzzi and bar, wine cellar and room for gym equipment. Harissa’s location is 5 minutes away from the famous beaches of fig tree bay, Pernera beach Ayia Triada beach and Kapparis beach.

300m2 Covered area (3 floors)

1500m2 Plot Size

500m distance from the Beach

4 Bedrooms

2 ½ Bathrooms

35 min to the Airport

Fully automated Smarthome

5 min from Shopping centers

10 min from private international school

Protaras

Playroom/Cinema in the basement

Overflown pool with cinema

Sea View

BBQ area

Firepit with sitting area

REAL ESTATE

MALAMA GRAND - Upcoming Malama Grand, is a group of four 4-bedroom luxury seafront villa designed to an exceptionally high standard. The villas are located on the sea, offering an exceptional and amazing seafront lifestyle.

410m2 Covered area (3 floors)

800m2 Plot

Smarthome technology

500m from Shopping centers

Kapparis Protaras

4 Bedrooms

4 Bathrooms

On the beach

5km from private international school

35km to the Airport

Sea View

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REAL ESTATE

ATOPETRA MANSION Elegant in design and exceptional in location, Atopetra Mansion is an exclusive and unique property, located in one of the most sought-after areas of eastern Cyprus. This elite villa is set out over 3 spacious levels and has a covered area of 510 m². The ground floor comprises of a sizable, open-plan, living, dining and kitchen area, with glass patios doors allowing natural sunlight to shine through and providing outstanding views.

510m2 Covered area (3 floors)

1757m2 Plot

Fully automated Smarthome

2km from Shopping centers

Cape Greco

5 Bedrooms

Overflow high-tech pool 12mx5m

500m distance from the beach

5km from private international school

45km to the Airport

5 Bathrooms

Panoramic Sea View

REAL ESTATE

ICON SIGNATURE VILLAS With green area stretching to the turquoise waters of the Mediterranean, this harmonious blend of outstanding architecture and modern technology sets a new standard of living for its occupants. Located in a beautiful and unspoiled part of the country, this lavish contemporary dream home uses only the highest quality components. Boasting an expansive green area of over 1200 m2 this home with a covered area of 254 m2 and an additional basement of 110 m2 offers a huge living space to relax and unwind.

366m2 Covered area

1250m2 Plot

Fully automated Smarthome

5 Bedrooms

High-tech gym

30km to the Airport

Sea View

10 min from private international school

Ayia Napa

10km from Shopping centers

6 Bathrooms

On the beach

Seaview Elevator

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REAL ESTATE

MALAMA VILLAS The Malama Villas derive their name from Malama Beach, the lively little cove right outside their front door. This prime location offers more than just highly sought after sea views; rather, the crystal clear waters are practically an extension of the villas’ front garden, with a plethora of fun watersports available at residents’ fingertips. These three-floor villas feature modern architectural design and dazzling white exteriors that reflect the almost year-round sunshine the island receives.

140m2 Covered area

400m2-450m2 Plot

Smarthome

500 from Shopping centers

Kapparis, Protaras

3 Bedrooms

Overflow pool

200 distance from the beach

5km from private international school

35 min to the Airport

3 Bathrooms

Sea View

REAL ESTATE

MILOS LIFESTYLE VILLAS An exclusive combination of contemporary architecture and scenic surroundings, Milos Villas is a development that offers a luxurious standard of living within one of the most beautiful areas of Cyprus. This striking collection of detached villas has been designed and constructed with precision and incorporates high quality materials with a finishing touch that will satisfy the highest of expectations. Located within stunning surroundings in the highly popular Green Bay area of Protaras, The development that is consisting of 36 villas is situated just a minutes’ drive from the Cape Greco National Forest Park and sits between the beach resorts of Protaras and Ayia Napa.

145m2-200m2 Covered area (3 floors)

450m2-700m2 Plot

2, 3 & 4 Bedrooms

Overflow pool

3 Bathrooms

Sea View

Smarthome

2km from Shopping centers

Cape Greco

200m distance from the beach

10km from private international school

45km to the Airport

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REAL ESTATE

IONION SEAFRONT VILLAS In an area of breathtakingly beauty, just a stone’s throw from the turquoise waters of the Mediterranean, Ionion Villas is one of the area’s most prominent and exclusive developments. Inspired by the beauty of classic Greek architecture, this remarkable project of 70 detached villas, set out in 3 phases, has been meticulously designed to take full advantage of the panoramic sea views on offer.

130m2-200m2 Covered

278m2-838m2 Plot

Smarthome

3-4 Bedrooms

Overflow pool

On the beach

3-4 Bathrooms

Sea View

5km from shopping centers

Ayia Thekla, Ayia Napa

10km from private international school

30km to the Airport

REAL ESTATE

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IKARIA VILLAS The Ikaria Villas are two three-bedroom, three-bathroom individual residences located in the town of Protaras. Though the popular resort town is always buzzing, offering an array of shops, restaurants and nightlife, the Ikaria Villas are tucked away in a peaceful, quiet neighbourhood where residents can relax in full view of the azure coast. Each villa boasts a luscious roof garden and overflow swimming pool, and is finished with high quality materials within, spaced out across an ample space of 187 to 2013 square meters.

187m2 to 203m2 Total Area

3 Bedrooms

3 Bathrooms

Roof Garden

1km distance from the beach

40km to the Airport

Paralimni

5km from private international school

Overflow swimming pool

προοπτικό Β

1801 - preliminary study

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REAL ESTATE

PERNERA BLUE HOTEL The Hotel is consisted of 45 apartments, rated class A according to Cyprus Tourism Organisation. The complex sits on a 4198 m2 plot, located close to an awarded blue flag beach. The actual distance to the beach is less than 200 metres. The hotel’s amenities include a pool, a children’s pool, a tennis court, a volleyball court, and a sauna. A mature garden surrounds the hotel complex. The hotel has all the necessary building and operation permits, including a Cyprus Tourism Organisation operating license as well as a Town Hall operation license, and a Certificate of final approval for the Structures.

Conversion to a 3* Hotel: An application has been submitted to the appropriate authorities to acquire a town planning permit to convert the existing apartment complex into a three-star (3*) hotel of 102 rooms or 211 beds.

Also, potential investors have the opportunity to proceed with a purchase of a shareholding packages.

142 Rooms

Overflow pool

4000m2 Plot

200m distance from the beach

10 min from Shopping centers 10km from private international school

Pernera

Sea View

45km to the Airport

REAL ESTATE

PLIADES SEASIDE VILLAS In the secluded seafront setting of Ayia Thekla, a mere stone’s throw from the luxury Ayia Napa Marina and some of the world’s most famous Blue Flag beaches, one may find The Pleiades. This cluster of seven villas is ideally located to capture the extensive natural beauty that is Cyprus’ east coast. The spacious, modern residences are perfect for anyone seeking a permanent or holiday home set against a stunning backdrop of natural beauty, and within close range of the buzz of city life.

The Pliades Villas are an exclusive new development of luxury living spaces. Built close enough together to create a delightful little community, each home offers plenty of space to allow for maximum privacy and comfort.

150m2-200m2 Covered area (3 floors)

400m2-600m2 Plot

Smarthome

2km from Shopping centers

Ayia Thekla, Ayia Napa

3-4 Bedrooms

Overflow pool

100m from the beach

10km from private international school

30km to the Airport

4 Bathrooms

Sea View

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REAL ESTATE

THE CLIFF RESIDENCES Perched upon a stony bluff, surrounded by beautiful greenery, the Cliff Residences overlooks the shores of Protaras, a stunningly vast view of the Mediterranean.

The 3 mansions are nestled on the cliff of Profitis Elias area, next to the a beautiful 5* Hotel Resort. Future development to the area is restricted, making it these properties of unique exclusivity. Private and secluded, the 4 bedrooms detached villas are ready to provide an exclusive lifestyle to every customer.

700m2 Plot

200m2 Total Area

4 Bedrooms

Sea View

Protaras

REAL ESTATE

ACHAIA COMMERCIAL BUILDING

Achaia commercial building is located in the heart of Paralimni within a close distance from all governmental and private sector services. It is very ideal to accommodate businesses, which they want to have all of their amenities within one building. The offices are large and spacious that make it appealing to businessmen and clients.

6 Flats

10 Offices

1 Cafeteria

2 Showrooms

Downtown Paralimni

500m distance from centre

1 Shop

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REAL ESTATE

MYTHICAL SANDS A welcoming retreat in a wonderful setting, the Mythical Sands Resort & Spa is the ideal choice for buyers seeking a desirable residence in an admirable beach resort location. A combination of luxurious accommodation and superb communal facilities for all ages make Mythical Sands Resort & Spa innovative and unique to this area of Cyprus. The resort, constructed in 3 phases, consists of 400 units of two-three bedroom apartments, studios, townhouses and villas, set within 6000m2 of attractive green areas. Properties’ features include spacious sun terraces and private off-road parking.

Resort 1-3 Bedroom flats

100m from Supermarket

Kapparis Protaras

Partial Sea View

1-3 Bedrooms

Communal overflow high-tech pool

500m distance from the beach

10 min from private international school

45 min to the airport

REAL ESTATE

MYTHICAL SPA - MYTHICAL SANDS From the perfect cake to exotic couple’s massages and the functional gym studio, the creative specialists at Mythical Resort and Spa will help you design your perfect holidays, ensuring that is one to remember forever. Located only 500m from the Malama Beach, and only five minutes drive from Paralimni Centre, and Protaras Tourist Area.

A famous Greek Designer, put all his efforts to create a landmark building which its concept will give an added value to the project, but to the whole area. The Health Spa Center & Boutique Hotel has a total building area 2,350m² which is divided in four levels along with terraces and garden areas.

Boutique Hotel

1500m2 Plot

24hrs concierge

Children areas

24 suits, fully equipped

Outdoor Summer Cinema

Cafe

Kapparis Protaras

Gym

Massage

Hammam & Sauna

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REAL ESTATE

MYTHICAL ELITE VILLAS Those seeking that something extra within the Mythical Sands Resort should look no further than the four semi-detached Mythical Elite Villas. These residences are housed in a generous plot, and have an internal area of 97 square meters. Each villa boasts two bedrooms and three bathrooms, and feature a roof garden where residents can kick back and relax in the privacy of their own home. The Resort’s superb communal facilities are freely available to residents of the Mythical Elite Villas, as is an overflow high tech swimming pool. The villas are ideally located in the Kapparis area of Protaras, walking distance from some of the town’s most fabulous beaches.

115m2 Covered area (semi-detached villas)

From 140m to 214m2 Plot

2 Bedrooms

3 Bathrooms

500m distance from the beach

Kapparis, Protaras

45km to the airport

10km from private international school

Roof Garden

REAL ESTATE

MYTHICAL SEAS The Mythical Seas Villas are part of the Mythical Sands Resort, a welcome retreat located within walking distance of some of the world’s most beautiful beaches, where residents can choose from a wide selection of accommodation types and take advantage of the Resort’s communal facilities. With a choice of 18 villas and 14 apartments of two, three and four bedrooms, the Mythical Seas Villas boast their own communal swimming pool and storage area. Their thoroughly modern, geometric façades are a joy to behold, perfectly merging natural wood elements with traditional stone wall cladding and contemporary fair faced concrete, all fitting together like pieces of a puzzle.

18 villas, 14 apartments

2-4 Bedrooms

3 Bathrooms

500m distance from the beach

Kapparis, Protaras

45km to the airport

Private swimming pool

10km from private international school

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REAL ESTATE

MYTHICAL BLUE The Mythical Blue Villas, also a part of the welcoming retreat that is the Mythical Sands Resort, caters to visitors and residents of all ages looking for a permanent or holiday home with an authentic beach resort feel. Mythical Blue consists of 9 detached villas, 8 maisonettes and 12 apartments, nestled within lusciously landscaped green areas. Residents can choose from one, two or three bedroom and one, two, three or four-bathroom options, and will also have full access to the communal swimming pool and personal storage areas. Roof gardens will also be available for certain accommodation types.

9 detached villas, 8 maisonettes, 12 apartments

1, 2, 3 Bedrooms

1-4 Bathrooms

500m distance from the beach

Kapparis, Protaras

40km to the airport

Private swimming pool

10km from private international school

REAL ESTATE

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MELIADES RESIDENCES Located within close proximity of some of the island’s most beautiful golden sand beaches, the Meliades Residences are a set of three villas that make up the ideal permanent or holiday home in Protaras. Each villa comprises three bedrooms and three bathrooms within a internal area of 132 square meters, with generous, covered balconies that let in an abundance of sunshine and fresh air. The entire property sits comfortably on a plot ranging from 398m2 to 444m2, and boasts covered parking spaces and an overflow swimming pool.

3 Villas 132m Total Area 2

800m distance from the beach

398m2 to 444m2 Plot

40km to the airport

3 Bedrooms

Overflow swimming pool

3 Bathrooms

Covered Verandas

Protaras

Covered Parking

15km from private international school

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REAL ESTATE

HALKI VILLAS The Halki Villas are a luxury development of nine villas located in the lively resort town of Protaras. This row of conceptual, two-floor homes are inspired by their natural surroundings, making use of wood, stone, and fair faced concrete elements to create a simple, modern aesthetic and authentic textures that are pleasing to the eye and touch. Spread over a large plot area of 8075m² in total, the villas are organized in such a way as to create large, fluid spaces which allow natural ventilation and sea view.

Each villa comprises three bedrooms, and offers covered parking areas, a high-tech overflow swimming pool, as well as a barbecue area and plenty of space for a unique, outdoor dining experience.

551m2-650m2 Plot

10km from the beach

3-4 Bedrooms

2 covered parking areas

3-4 Bathrooms

1.5km from Shopping centers

Infinity swimming pool 8km from private international school

Kapparis Protaras

REAL ESTATE

ALMYRA RESORT Almyra resort offers an array of 28 villas located in Pernera – Protaras just 5 minutes away from sandy beaches, the upcoming marina of Protaras and all amenities. Residents can choose from 2, 3 or 4-bedroom villas with reasonable prices, all of which boast an optional roof garden offering spectacular views of the Eastern coastline and a comfortable internal area ranging from 97 square meters to 164 square meters. The cleverly designed open plan kitchen, dining area and living room give the feeling of extra comfort and space.

265m2 to 543m2 Plot

1km distance from the beach

2-3 Bedrooms

40km to the airport

3 Bathrooms

Protaras

Overflow swimming pool

700 from Shopping centers

7km from private international school

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PROJECTS MAP

KARMA PROJECTS MAP

Halkida, Nafpactos

Nafplio Olympia Villas Pliades Seaside Villas Icon Villa Ionion Luxury Villa

PROJECTS MAP

Macedonia, Kithira, Salonica Mythical Resort, Mythical Sands, Mythical Seas, Mythical Blue, Mythical Elite, Mythical Spa

Malama Grand Resort, Malama Villas roject Serres Villas

Rodos Development Astypalea Achaia

Lindos

Simi Limnos

Kerkyra Kalimnos

Meliades Residences

Egina Almyra Resort

Skyros

Thasos Ithaki

Almyra Resort

Cliff Residence Kea, Kalamos, Kimolos Ydra, Amorgos Crete Skiathos, Poros, Samos Milos

Paros, Zakinthos Tinos Ikaria Nissiros, Siros

Atopetra

Kos Naxos

Nemea

Halki Villas Zakynthos

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BUYING PROCESS

THE BUYING PROCESS DECIDING TO BUY Whether you are purchasing as an

1

investment or are relocating to Cyprus, careful and considerate planning is essential.

Once you register your interest at Karma our dedicated team will listen to your

2

needs and priorities, and create a specialized plan unique to you and your family’s needs.

INSPECTION TRIP Our inspection trips offer you the best method of finding your dream home in Cyprus. Here at Karma, our cordial staff will greet you and show you the best Cyprus has to offer.

We are happy to arrange everything from flights to accommodation of your choice.

Karma will ensure a variety of flight options to fit your needs.

During the tour you will have the opportunity to see and explore many of the islands attractions as well as meet with our dedicated property advisors to see a tailored list of properties created for you.

FAQ: Q: Can we have a copy of the Contract of Sale written in another language?

A: languages, either Greek or English, plus the language of your preference.

SELECTION & RESERVATION

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After in-depth discussion with our committed sales advisors, we will carefully select or a shortlist of properties that fit your requirements. Viewings of properties are then arranged and we are also happy to show you highlights of eastern Cyprus and its rich cultures.

Once you have selected a property, begin the purchasing phase by signing a reservation agreement. Final price and conditions of purchase are all included in writing and a deposit is made. We will also professionally advise and assist you on the best purchasing strategy for your circumstances.

BUYING PROCESS

CONTRACT OF SALE

REGISTRATION & COMPLETION

The contract of sale will be prepared

Once both parties have signed the

by a lawyer fully experienced in property who will also confirm details,

4

contract of sale, it must be stamped and deposited at the Land Registry

arrange paperwork, and do their own

within 180 days. Once submitted, you

research and inspections of the

are officially the new owner of the

property before proceeding.

property.

When both parties have agreed and

If you have purchased an off-plan

signed in writing the contract of sale,

property or one that is under construc-

an audit and a thorough due diligence

tion, we will keep you fully informed as

check is made..

to the progress until completion. Once

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we receive the final payment for your property, we give you the key and deliver your new home.

LESS THAN 1 MONTH Inspection Trip, Contract of Sale and Registration

3 MONTHS Cyprus Residency Permit

6 MONTHS Full EU citizenship Receipt of passport

TIMELINE

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ABOUT US

WHO IS KARMA

Karma Developers was established in 1985 and is now a member of the fast-growing property development, construction and investment Karma Group of Companies, one of the leading and evolving groups in Cyprus.

Today Karma Developers has flourished by delivering more than 3000 quality properties and is continuing to evolve, offering great new projects with unique designs and sought after locations along the stunning Eastern Coastline. Karma Developers was the first members of the Karma Group of Companies and is considered the leading company of the Group.

KARMA VISION

“

KARMA VISION

Our vision is to offer our customers the highest level of quality construction at fair and market competitive prices whilst still listening carefully to each client’s needs.

Whether they are buying a holiday home, an investment opportunity or a permanent

residence, we make this experience as stress free, enjoyable and simple as possible.

With professionalism and our own personal touch, we make each client feel ‘’Safe in our Hands’’.

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BUILDING RELATIONSHIPS SINCE 1985

16 Kennedy Ave. (Kapparis), 5290 Paralimni, Cyprus P.O. Box 33133, 5311 Paralimni, Cyprus T: +357 23730777 F: +357 23730778 E: info@karmadevelopers.com.cy

E. info@karmadevelopers.com.cy

www.karmadevelopers.com

16 Kennedy Avenue, 5290 Paralimni

T. +357 23730777, F. +357 23730778