Cyprus Ambassador Opens World Class Bridge to Middle East

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An Initiative by World Class Group promotes a new trade bridge to the Middle East from Cyprus, the new gateway of investment in the EU. Government Incentives have lowered previous barriers for Non-European Investment and World Class is building the bridge for Cyprus in the region through the Cyprus Investment Festival which opened in Beirut and will tour the region over the next few months.

Aphrodite Princesses flank Michael J. Tolan, CEO World Class Group,(Center) His Excellency Dr. Kyriako Kouros, Ambassador to the Republic of Cyprus, (Center Left) and Mr Kyriazi Anghelopoulos, Pafilia Property Developers Saudi Arabia Area Manager (Center right)

The Cyprus investment Festival has launched this initiative and we are pleased to support this event

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The opening of anew bridge from Cyprus to the Middle East was celebrated in Beirut Lebanon.The Cyprus Investment Festival, held in Beirut, Lebanon was officially opened by his Excellency, Ambassador of the Republic of Cyprus, Dr Kyriakos Kouros.

During his address he pointed out the strategic alliances currently available to investors in Cyprus and its market stability.

"The Cyprus investment Festival has launched this initiative and we are pleased to support this event", he said.

"We are open for business in Cyprus, and our doors are now open for investment" he added.

The Cyprus Investment Festival organizers, World Class Group, a PR and communications consultancy unit based in Dubai, launched the Cyprus promotion to the Middle East with its first leg of the festival in Beirut. The Cyprus Investment Festival will showcase the advantages of investing in Cyprus throughout the Middle East later in the fall of 2009.

Among the participating partners of the Cyprus Investment Festival are seasoned development groups in Cyprus, Iacovou Brothers Development and Pafilia, and other quality boutique developers.

The aim of the festival is to inform potential investors of new opportunities of foreign investment in Cyprus, in particular a new resolution in the counsel of minister's decision to allow non-Europeans to apply for permanent residency status when purchasing a property in Cyprus under certain criteria. The organizers are promoting this as the new 'Open Doors' policy of Cyprus.

Organizers of the festival were impressed by the growing number of investors from the Middle East expressing interest in making substantial commitments in Cyprus. "Cyprus is the gateway to the EU for the region, and having the lowest corporate tax has also attracted many international companies to set up shop in the country," said Mr. Michael J. Tolan, Ceo of World Class Group, organizers of the Cyprus Investment Festival.

Visitors from Saudi Arabia, Iran, Iraq and the UAE were in attendance to the Festival. Many of these investors showed high levels of interest in investing in Custom Villas and other income properties that enjoy a strong rental demand by vacationers who rent luxury villas by the week.

"Now is the time to seize opportunities in Cyprus which enjoys a stable economy in spite of the global so called crisis" he added.

The Cyprus Investment Festival will be held in Beirut at the Phoenicia Hotel throughout the month of August. Investors were enlightened to new developments in Cyprus such as a new world class marina project in Paphos, destined to attract the jet set of the Mediterranean to Cyprus, several new golf courses including one in Larnaca and rumored talks with major theme parks groups which will add to the already growing tourist market.

"Many investors who have been perplexed by the world economy now view Cyprus as the darling safe haven of Europe", said Tolan. The number of incentives that are available to major investors including grants from the EU attracts major investors. Fractional Ownership, introduced in Cyprus by World Class Group earlier this year, also got the attention of speculators who desire to acquire assets in Cyprus while having a lower exposure and a deeded slice of a superb vacation property."

"On the upper tier of the scale, we have inquiries ranging from 500,000 to 10,000,000 Euro level investment in properties and joint ventures."

Hundreds of visitors surveyed were interested in various areas of Cyprus, the Protaras and Famagusta areas were popular on speculation of reunification of the island, while Larnaca and Limassol remained front-runners, followed closely by Paphos and Polis, the new frontiers of buy to rent properties.

The Cyprus Investment Festival will tour Dubai, Qatar, and Saudi Arabia, Singapore and Malaysia over the next few months'. Dr. George Mintis, Vice President of the Cyprus Tourism Organization, said "The Open Doors policy of Cyprus has opened a new gateway to the EU for many investors in the Middle East and around the world". "There are opportunities for any entrepreneur to secure safe and profitable investments in our country. Cyprus boasts the lowest corporate tax rates in the EU, and is attracting many multinational companies to relocate to the island of smiles as well as retirees and vacationers," added Mintis.


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