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Yearly Archives: 2012

Permanant Residency in Cyprus non EU Citizens

Permanant Residency in Cyprus non EU Citizens updated information for clients;

Permanant Residency in Cyprus non EU Citizens updated information for clients wanting to gain residency in Cyprus and travel within the European Union;

  • How much time will take for the permanent residency?  
  • The Permanent Residency process has been simplified. It now takes between 45-60 days.
  • Is permanent residency valid also in other European Countries?
  • Having the PR for Cyprus, makes it easy to travel anywhere in the EU. There is a certain process for that.  Everything can be explained if you contact and meet with us.
  • Is it possible to obtain a housing loan?
  • Due to the overall Euro crisis, getting a loan is not easy. However we promise to do our best if the client can pay 50% of the value of the property.
  • Can my family stay in Cyprus without me?
  • Yes they can. (Depends on age of the children)

Enjoy Permanent Residency in an EU country when you buy your dream home in Cyprus. Fulfilling your dream of an EU lifestyle has just been made possible by the Cyprus Government, which has recently announced that non-EU citizens making a minimum investment of € 300,000  buying property in Cyprus on the island, subject to certain requirements, will be granted permanent residency through a special immigration visa. Quite simply, this means you will be able to enjoy the same advantages as everyone else in Cyprus without having to apply for any permits or renewals.

Cyprus is already renowned as the perfect place to live with its almost year-round sunshine, a relaxed, stress-free lifestyle and a very low crime rate. Cyprus offers an ideal family environment, with your children able to benefit from excellent schools and universities, while healthcare and infrastructure are all state-of-the-art. The island also enjoys a favourable reputation as in International business centre & gateway to the EU. Many international companies operate offices in Cyprus. Opening a company couldn’t be easier with low personal & business taxation plus the added benefit of tax treaties with numerous other countries.

More information below, use the link;

Permanant Residency in Cyprus non EU Citizens


 

 

 

Euro exchange rate

Fed stimulus aids the euro, but spain limits gains

Euro exchange rate Fed stimulus aids the euro, but spain limits gains;

01.10.2012

Peter Lavelle

Welcome to the Pure FX account of this month’s changes in the euro exchange rate.

This is intended as a brief guide to movements in the euro, to put you in the best position for when you exchange currencies for your Cyprus property.

Euro Exchange rate changes:

Pound to euro exchange rate (GBPEUR)

1.2598 on August 29th 2012

1.2559 on October 1st 2012

-0.31% change.

September was a month of two halves for the pound-to-euro exchange rate. The Federal Reserve announcement of quantitative easing 3 first lifted the common currency against sterling, before trouble in Spain brought the euro back down to earth.

Hence, though the euro may have come out 0.31% ahead against the pound across September as a whole, it’s easy to imagine the pound making up those losses and more in October. That of course would be beneficial if you plan to buy property in Cyprus.

What affected the euro in September

The biggest influence on the exchange rates last month was the US Federal Reserve’s announcement of QE3.

Announced on the 13th September by Fed chairman Ben Bernanke, this is intended to kick-start the US economy and reduce unemployment. Crucially, unlike the previous two rounds of QE since the financial crash, this one will be unlimited, with the Fed purchasing $40bn in mortgage-backed securities each month until the economy recovers.

However, though the unveiling of QE3 may have left the markets jubilant, it also signalled the end of the euro’s six-week ascendance against the pound, because it gave investors very little else to look forward to. Hence, Spain and its problems dominated our attentions throughout the last fortnight of September.

Perhaps the most pressing problem for Spain comes from Catalonia. Last week, Catalan president Artur Mas announced an early election in the region, as a proxy to decide whether it should seek independence. This follows weeks of discontentment, stemming from what Catalans feel is a lack of self-governance.

What’s going to happen next to the euro exchange rate

As I mention, there’s very little on the horizon that could give the euro the same lift as QE3. Spain’s problems for instance look set to fester, as Catalonia’s fate hangs in the balance until November 24th, when it holds its election. And even then, just because it’s held the vote, doesn’t signal its constitutional haggling will be at an end.

Given that, it’s easy to see the pound gaining this month, as the UK’s comparatively stronger position attracts investors. (The latest data suggests the UK would have left recession between April and June, if not for the Jubilee bank holiday, for instance.) That would of course benefit you if you plan to relocate to Cyprus.

Get in touch

I do hope you’ve enjoyed reading this post.

If you’d like to find out how what I’ve talked about here affects your money transfers, call us at Pure FX on +44 (0) 1494 671800 or email enquiries(@)purefx.co.uk. We’d be delighted to help with your enquiry.

Euro exchange rate Fed stimulus aids the euro, but spain limits gains

Prospect of Euro, ECB Aid  to save Spain boosts the euro;

Euro, ECB Aid

29.08.2012

Peter Lavelle

Welcome to the Pure FX account of this month’s changes in the euro exchange rate.

This is intended as a brief guide to movements in the euro, to put you in the best position for when you exchange currencies for your Cyprus property.

Exchange rate changes:

UK pound to euro (GBPEUR):

1.2811 on July 30th.

1.2598 on August 29th.

-1.663% change.

What affected the exchange rate this month

The Euro made significant gains against the pound this month, chiefly on expectations that the ECB will soon intervene to (potentially) end the debt crisis Euro, ECB Aid. Prospect of Euro, ECB Aid  to save Spain boosts the euro

Speaking at the beginning of August, ECB president Mario Draghi said he would do “whatever it takes to preserve the euro.” Since then, it has emerged he plans to buy Spanish and Italian government bonds, making it cheaper for these countries to borrow, and thus reducing the intense financial pressure they feel while they reform their economies.

If the central bank does intervene, it could remove one of the chief anxieties about Europe’s debt crisis i.e. doubts about the lengths to which the region’s richer countries will go to aid indebted Spain and Italy. Hence, for the moment, the rising euro.

What will happen next to the rates

Crucially, these current gains in the euro exchange rates are based on little more than speculation. The European Central Bank has yet to release substantial details about its plan to buy Spanish and Italian debts, meaning the scheme could (potentially) turn out to be a damp squib.

Paul McNamara at investment management firm GAM for instance notes: “Prices are only where they are now because there is a very material expectation priced in that the ECB will intervene.”

Hence if it turns out otherwise, this euro strength could quite easily become a castle built on sand. If the ECB disappoints, look out for the euro sinking in the not-too-distant future.

How this affects your foreign exchange transfers

If you’re in Cyprus, a strong euro is useful if you plan to repatriate funds to the UK. It after all means that, when you sell euros to buy sterling, you get more pounds in the process.

If on the other hand you plan to buy property in Cyprus, keep an eye on the euro exchange rate. If the European Central Bank disappoints, as is quite possible, we can expect the pound to firm up against the common currency quite shortly.

Get in touch

I do hope this post has been useful to you.

We will return with our next foreign exchange update next month. In the meantime, if you’d like to  discuss transferring money to Cyprus, visit us at foreign exchange specialist Pure FX. You can also call +44 (0) 1494 671800 or email enquiries(@)purefx.co.uk. We’d be delighted to help with your enquiry.

 

Euro, ECB AId

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