Aeneas Villas, Aphrodite Hills, Cyprus
Luxury Villas for sale with Mediterranean sea views in Cyprus - Citizenship By Investment approved.
This is an outstanding opportunity to purchase one of just eight luxury villas within the Aeneas community of Aphrodite Hills resort in Cyprus.
Occupying an enviable location in the resort, the properties are situated in an elevated position, and as such boasts uninterrupted, far-reaching views out to the Mediterranean Sea. The villas are surrounded by beautifully landscaped gardens, offering exceptional privacy – all within walking distance to the 5* facilities of the resort, including golf courses, destination spas and restaurants.
Aphrodite Hills Resort is an award wining fully integrated sports and leisure resort near Paphos, Cyprus. The five star 243 hectares / 578 acres luxury resort comprises of 5-star Hotel, Luxury Spa Retreat, 18-hole Championship Golf Course and Tennis Academy.
It is the first ever fully integrated luxury resort to be opened in Cyprus. Set on a stunning plateau overlooking the crystal waters of the Mediterranean, the resort combines a wide choice of the finest accommodation with professional standard 18 hole golf and tennis academy facilities along with a state of the art spa plus a 3000m² children’s club, beach club and a lot of other wide ranging leisure activities.
A protected forest also surrounds the resort and only 8 per cent of the net land area can be developed. The resort concept first began in the 1980’s, over two decades have been dedicated to master planning and a feasibility study of methods of maintaining and protecting the area’s archaeological and historic heritage.
The resort offers a superb Mediterranean lifestyle choice, the chance to be as active or leisurely as you choose, in an idyllic environment created against the stunning magnificent sea views of the Mediterranean Sea and only 15 minutes from Paphos International airport. It also hosts a traditional Village Square complete with shops and a choice of restaurants and bars as well as the Beach Club which is reached by a short complimentary shuttle bus ride. The Cove, which is the resort’s own chic, with outstanding sunset views and all beach facilities.
Properties for Sale at Aphrodite Hills, Cyprus
Properties at Aphrodite Hills are located in a series of villages within the resort. We are pleased to sell properties within Alexander Heights and Aeneas Grand Villas . The villages are within walking distance of the village square, and each has its own communal pool for residents and guests.
All properties boast stunning locations and many offer spectacular views of the surrounding landscape; the golf course, mountains, ravine or the sea, which can be enjoyed from either the private or communal swimming pools.
Alexander Heights is set in one of Aphrodite Hills most desirable and private south facing locations. Just moments away is the spectacular 18-hole championship golf course, an acclaimed tennis academy, the multi-award-winning Retreat Spa, shops, restaurants, bars, and the 5* Aphrodite Hills Resort Hotel.
Every villa within Alexander Heights offers truly breath-taking, uninterrupted sea views over the Mediterranean Sea, from sunrise to sunset. The architects took inspiration from traditional Cypriot village architecture to reinterpret it into truly luxurious detached villas, junior villas and apartments.
The Aeneas Grand Villas are a beautiful collection of just eight luxury four bedroom villas situated in a elevated position overlooking the Mediterranean Sea, within easy walking distance of the resort's facilities. The ultra-luxurious, detached villas are fully furnished to the highest standard and feature their own landscaped gardens and large private pools.
Every home at Aphrodite Hills is finished to uncompromising standards with impeccable attention to detail. The highest quality Italian style kitchen units, lavish Crema Royal Marble bathrooms and marble parquet floor features throughout.
* Prices quoted are excluding VAT. Please speak to us today for more information.
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Purchasing property at Aphrodite Hills
* Prices quoted are excluding VAT. Please speak to us today for more information.
We are pleased to offer a selection of properties for sale at Aphrodite Hills. To discuss your requirements, current availability and pricing simply enquire now and we will be happy to assist you in purchasing a home at Aphrodite Hills, Pafos, Cyprus.
Mortgages are available from the Bank of Cyprus, and other institutions, using the property in Cyprus as security.
A rough guide to the mortgage schemes:
- Generally a loan of up to 60% (subject to status).
- Maximum duration of up to 30 years. Minimum 8 years. Upper age 65.
- Maximum loan up to €1,000.000 for purchase of holiday home.
- Bank arrangement fees 50% on loan amount. Documentation fees €75.
- Lending fees: Eurobor + 4.25%.
(Mortgage terms vary according to the status of the borrower – this is a rough guide only.)
Financial Incentives from the Cypriot Government to Buyers of New Properties
The Cypriot Government has introduced a framework of investment and business incentives to develop economic growth and encourage international investment to the country.
These incentives include:
- Reduced VAT for new properties; first time buyers of new properties will be eligible to be charged at 5% VAT on the value of the purchase instead of the normal rate of 19% VAT. Total covered area not more than 327m² – VAT 5% for the first 200m² and 19% for the remaining area of up to 75m at 52m is deductible. Properties over 327m² attract 19% VAT.
- Transfer of Title; is actioned once the property has been handed over. At this time, the District land Registry Office will charge Transfer fees, based on the market value of the property at the time of purchase and calculated as follows: Value of property:Up to €85,000 – 3% €85,000 - €171,000 – 5% €171,000 and over – 8%. For reservations of new property during 2017, where VAT is paid, the Land Registry will take the difference in purchase price stated in the contract and the valuation upon transfer and assess the transfer tax value. 50% of the above percentage will then be charged on the difference.
- Stamp Duty; On signing of the contract the purchaser is liable to pay stamp duty at the rate of .15% from €5,000 - €170,000 and at 0.2% thereafter, with a cap of €20,000. This is charged on property purchase and payable within 30 days of signing.
- IPT; Immovable Property Tax – abolished as of January 2017.
- Capital Gains Tax; is 20% on the gain but the first €17,086 is exempt. If there are two owners on the original contract of sale then the tax allowance can be up to €34,172 (two allowances maximum). There is a double taxation agreement between Cyprus and many other countries of the world.
- Inheritance Tax; no inheritance tax.
- Tax Advantages; Retirees drawing a pension are exempt from withholding taxes at source and may be taxed on the nominal rate of about 5% or less, depending on their income. Cyprus has double taxation treaties with many countries, safeguarding its residents from paying tax in both countries. No duty is levied on cars for retirees or personal effects.
- PLEASE BE ADVISED BY YOUR CYPRIOT LAWYER AS TO TAXES AT THE TIME OF GOING TO CONTRACT AS THESE CAN CHANGE AND THIS IS JUST A GUIDE.
Cypriot Citizenship for Property Investors
In order to be eligible to obtain Cypriot Citizenship, a non-Cypriot citizen may opt to invest either individually (directly or through company ownership) by investing a minimum of €2 million in any one of the investment areas listed below:
- Investment in real estate of at least €2 million including one property for permanent residence, of at least €500,000.
- Participation in Cyprus companies: the applicant must be the shareholder or the ultimate beneficial owner of a company (or companies) based in Cyprus and the management of which must be situated in Cyprus. The company must employ at least 5 Cypriot or European citizens.
- Investment in Alternative Investment Organisations or in assets of Cypriot Companies: the applicant must invest €2 million in Alternative Investment Organisations licensed by CySec or in the assets of Cyprus companies.
- Combination of the above (+ bonds): the applicant must invest in a combination of the above options and in addition, under the combination option, may invest in government bonds for the amount up to €500,000.
(Numbers 2 – 4 inc, plus €500,000 residency, making an investment of €2.5M).
Benefits of Cypriot Citizenship
- No residency requirement.
- Right to work and live in 28 European Countries.
- Dual Citizenship allowed.
- Passports issued six months after Permanent Residency granted.
Government Fees for Citizenship Application
- Investor pays €2,000 at the time of submission and €5,000 on approval.
- Spouse pays €2,000 at the time of submission and €5,000 on approval.
- Adult child (up to 28 in 1st degree education) pays €2,000 at the time of submission and €5,000 on approval.
- Minor children €80 at the time of submission. No approval fee.
Example Cost: Husband, wife, one adult child and one minor child pay a total of €21,080.
Permanent Residency (without Citizenship application)
- The applicant must prove that he/she has at her disposal a secured minimum annual income of at least €30,000 and a further €5,000 for each dependent person.
- The acquisition of a property of a minimum market value of €300,000 - This has to be a new property (resales do not qualify).
- The applicant must deposit a minimum amount of 30,000 with a Cyprus bank which must be held for a minimum of 3 years.
- The applicant is required to visit Cyprus at least once every two years.
Applications take approximately 2 – 3 months for approval.
The Location: Paphos, Cyprus
Occupying a scenic and beautiful location, gently sloping towards the Mediterranean Sea, Aphrodite Hills occupies a 234 hectare site between Paphos and Limassol. It sits on either side of the Randi Gorge, overlooking the spot where Aphrodite is said to have risen from the sea. It's a peaceful 'away from it all' place, with so many facilities and amenities, there's no reason to stray too far.
Just a couple of minutes from the resort hotel, there's a private beach, with umbrellas and sunbeds, and just a 15-minute shuttle ride away is Avdimou Bay, which switches between pebbles and sand, and comes with crystal-clear water and a couple of great fish tavernas. There's also a Blue Flag beach at Pissouri, around quarter-of-an-hour's drive away.
Cyprus is easily accessible, with daily flights from the UAE, Russia, UK and numerous other European destinations, as well as easily accessible from mainland China via daily flights from Dubai, Abu Dhambi and Moscow.
Would you like to know more about the resort, its location, purchase process and property specifications? Just download our exclusive resort brochure and discover all the advantages of owning a home overseas.