ONE Limassol, Cyprus
Limassol Marina | Limassol | Cyprus
ONE Limassol, Limassol, Cyprus
For exceptional seafront living, exclusivity, rarity and security of investment, ONE is the most sought after address in Cyprus. 37 stories with 83 ultra-luxurious residences ensure its the tallest residential tower of its kind. ONE is a landmark of progress offering residents all the advantages of esteemed hotel service in the comfortable embrace of a secure, private home.
The monumental height of ONE redefines the ultimate Limassol view - it has the greatest perspective on the city and is an altogether elevating prospect. As the effervescent Mediterranean Sea stretches out to the earth’s gentle curve, you have the world in front of you. You command the horizon.
State of the art lighting technology, insulation, heating & cooling systems, make each home exceptionally energy efficient, yet comfortable throughout the seasons. Property interiors are customisable, creating a bespoke home to meet buyer’s unique requirements. Surrounded by communal fields and olive groves, all homes have their own parking and private gardens or terraces.
The iconic tower offers unrivaled residences, each bathed in natural light and offering breathtaking views. The inspired mastery of fine architectural minds has realised a building that functions beyond expectation and excites without apology. These are residences that directly connect with nature in the ultimate Mediterranean location. Services and facilities open up a world of luxury. Space beguiles and indulges. The building’s light, height, intrigue and elegance support the purity of a shared vision to create a new category of elite living in Cyprus.
A collection of the world’s most renowned architects, designers and engineers have been brought together to originate ONE. They share an affinity for the exceptional, the unique and the genuine. The many perspectives that have combined to realise a building of such unrivaled quality are evident in its striking aesthetic, its performance and its breathtaking elegance within the Limassol skyline. Apartments have been ingeniously designed with an uninterrupted flow between one side of the tower and the other. And with a maximum of just three apartments per floor, every residence at ONE offers unrivalled views. On one side, the sea provides the ultimate natural vista. On the other, the view of the city and the distant Troodos Mountains is magnetic by day and enchanting by night.
Within the walls of ONE, residents have exclusive access to exceptional amenities, facilities and service.The spa is a sublime haven of peace, relaxation and restorative treatments. The large pool, voluminous sun decks, planted terraces, bar with panoramic views, state-of-the-art fitness centre and restaurant all contribute to the sense that ONE is a world unto itself. A world apart.Enquire about this Resort View all properties in this resort
VideoSorry there is no video available.
Purchasing property at ONE Limassol
* 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 ONE Limassol. To discuss your requirements, current availability and pricing simply enquire now and we will be happy to assist you in purchasing a home at ONE Limassol, 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.
ONE Limassol, Limassol, Cyprus
The Location: Limassol
ONE is situated on 28th October Avenue, Limassol’s most prized address. This prime seafront boulevard traces the coastline and runs parallel to its enchanting palm-lined promenade. Accented with boutique shopping and chic café culture, the select avenue effortlessly links its residents to the central business district, the most fashionable shopping quarter, the charming old town and the modern marinas. ONE occupies the point where 28th October Avenue reaches its most advantageous. This is a once-in-a-lifetime opportunity to acquire an address that embodies rarity and marks the true heart of Limassol.
Consistently ranked as one of the world’s leading cities for quality of life – and highly regarded for its chic riviera feel, cosmopolitan sophistication and pure Mediterranean charm – Limassol has fast become the home of choice to an ever growing multicultural population. Nowhere in Cyprus is there a richer or more engaging mix of culture, heritage, refined taste, entertainment and places of genuine interest.
With a total area of 9251km2, Cyprus is the third largest island in the Mediterranean. Cyprus enjoys a prime location, benefiting from a wide network of air-routes from both scheduled and low-cost airlines that connect it with Europe, Africa and Asia. This, combined with its ideal climate and excellent tax and financial benefits, make it a location of choice for many affluent business-minded individuals and companies. Numerous studies have also cited Cyprus as the number one place for retirement and relocation. Its popularity is due to its first-class infrastructure, relaxed lifestyle, beautiful landscape, safe environment and of course, the personal taxation advantages it offers. Boasting mountain peaks and beautiful beaches, Cyprus is a sport enthusiast’s delight offering alpine sports during the winter months and aquatic sports all year-round. In fact, the area offers sporting temptations for practically every interest, from golf, deep-sea fishing and horse riding to hiking and even quad biking.Visit Cyprus
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.