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Jenni Ellinas believes Cyprus is a great investment destination and lifestyle choice for South Africans. (Supplied)
Fin24 user Jenny Ellinas has started a business exploring destinations abroad and specifically Europe for South Africans wanting a Plan B. She writes:
I HAVE always been and will continue to be a very proud South African.
But as a mother of two sons and a businesswoman, I was and am always concerned with the sad reality that South Africa has enormous challenges regarding crime, economic and social problems and limited employment opportunities.
I decided to be proactive and researched all the permanent residency schemes available to South Africans and the island of Cyprus came out tops. Their scheme, I found, was affordable and the lifestyle of 320 days of sunshine would resonate with South Africans.
To obtain permanent residency in Cyprus, a European Union member state which successfully obtained a bailout and is now on the way to great prosperity as a result of a recent discovery of natural gas, the following criteria must be met:
* Purchase a residential property to the value of €300 000. To help with cash flow, you only need to pay two-thirds initially to get the process started. This is unique to Cyprus as other countries such as Portugal require €500 000.
* Prove an offshore income of €30 000 for the main member and €5 000 per dependent.
* Have a clean police record.
* Remit funds to Cyprus i e open a three-year fixed deposit account and deposit €30 000 and €5 000 per dependent. You can draw the interest but the capital must remain intact.
* Purchase an “outpatient medical” policy which costs €250 per person annually.
Cyprus is the only English-speaking country in Europe offering permanent residency without requiring that you physically live in Cyprus for a minimum number of prescribed days every year.
You only have to visit Cyprus two days every second year for your residency to be valid. The application takes four to six weeks to process and is for life.
What also works for South Africans is that Cyprus allows you to rent out your property on the permanent residency scheme. I have many clients who have purchased property in the tourist areas and rented it out, creating a euro income stream.
When I started Cypriot Realty in 2008, the world was starting to go into recession and many sceptics felt I was starting an offshore property services company at the worst time and that it was doomed to fail.
But I looked at it very differently; if anything, this would be the BEST time to get a new business off the ground because I had no preconceived ideas of how my business needed to conform to industry standards - there were none!
And I had to start my business with different strategies and a level of commitment and tenacity.
Since I came from a background in sales and marketing for blue chip corporations, it was easy for me to conceptualise and implement sales polices and marketing strategies.
But everything started off with me having a passion for Cyprus and a burning desire to succeed.
I spent the first three months doing nothing but setting up the groundwork for my business and identifying and implementing my mission statement, brochure design, logo, standardising feedback emails, media elements, client target lists and preferred referral partners and suppliers.
A normal day in my life would consist of me answering emails from and meeting with prospective clients, as well as facilitating visa applications for a property inspection tour to Cyprus.
This year Cypriot Realty is arranging five personalised inspection trips to Cyprus.
My experience has shown that the best way to make a decision to purchase property in Cyprus is by taking the time to view the properties first-hand, as well as experience the Cypriot lifestyle.
Being very goal-orientated and a visionary, my philosophy of "If it is to be, it's up to me" has resulted in Cypriot Realty being in operation for nearly five years, with five sub-agents in South Africa and two internationally.
Cypriot Realty is now seen as southern Africa's authoritative specialist in property solutions in Cyprus for residency, citizenship, emigration, retirement and investment.
And because I've always stuck to my short-, medium- and long-term goals I've made this proudly South African company successful and really stand out from the crowd in offshore services.
What I love most about my field of interest is meeting different clients throughout South Africa. It is always interesting that whether they live in Sandton, Somerset West, Ermelo, Welkom, Port Elizabeth, etc South Africans are looking for a Plan B for residency or to relocate, or even as a currency hedge.
If there is one piece of business advice I can give you, it's this: have a very clear goal/plan, stick to it and don't get disheartened by naysayers or a change in the marketplace, because change is inevitable.
Because when things come right (and they always do), it's very rewarding to see something that you've created come alive and be prosperous.
Advice for your personal life: don't feel you have to do everything yourself. Don't be scared to pay professionals for their services as this will free you to spend quality time with family and work "ON" your business and not "IN" it.
I am on an amazing journey and have met many, many interesting clients who have become firm friends because I do believe my intentions are honourable and I am running my business in a spirit of honesty, professionalism and ethics.
- Fin24
* This is a Fin24 user submission. Add your voice to our Women's Wealth Issue and help empower others this Women's Month.
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Share your coping tips
Ask the experts
I HAVE always been and will continue to be a very proud South African.
But as a mother of two sons and a businesswoman, I was and am always concerned with the sad reality that South Africa has enormous challenges regarding crime, economic and social problems and limited employment opportunities.
I decided to be proactive and researched all the permanent residency schemes available to South Africans and the island of Cyprus came out tops. Their scheme, I found, was affordable and the lifestyle of 320 days of sunshine would resonate with South Africans.
To obtain permanent residency in Cyprus, a European Union member state which successfully obtained a bailout and is now on the way to great prosperity as a result of a recent discovery of natural gas, the following criteria must be met:
* Purchase a residential property to the value of €300 000. To help with cash flow, you only need to pay two-thirds initially to get the process started. This is unique to Cyprus as other countries such as Portugal require €500 000.
* Prove an offshore income of €30 000 for the main member and €5 000 per dependent.
* Have a clean police record.
* Remit funds to Cyprus i e open a three-year fixed deposit account and deposit €30 000 and €5 000 per dependent. You can draw the interest but the capital must remain intact.
* Purchase an “outpatient medical” policy which costs €250 per person annually.
Cyprus is the only English-speaking country in Europe offering permanent residency without requiring that you physically live in Cyprus for a minimum number of prescribed days every year.
You only have to visit Cyprus two days every second year for your residency to be valid. The application takes four to six weeks to process and is for life.
What also works for South Africans is that Cyprus allows you to rent out your property on the permanent residency scheme. I have many clients who have purchased property in the tourist areas and rented it out, creating a euro income stream.
When I started Cypriot Realty in 2008, the world was starting to go into recession and many sceptics felt I was starting an offshore property services company at the worst time and that it was doomed to fail.
But I looked at it very differently; if anything, this would be the BEST time to get a new business off the ground because I had no preconceived ideas of how my business needed to conform to industry standards - there were none!
And I had to start my business with different strategies and a level of commitment and tenacity.
Since I came from a background in sales and marketing for blue chip corporations, it was easy for me to conceptualise and implement sales polices and marketing strategies.
But everything started off with me having a passion for Cyprus and a burning desire to succeed.
I spent the first three months doing nothing but setting up the groundwork for my business and identifying and implementing my mission statement, brochure design, logo, standardising feedback emails, media elements, client target lists and preferred referral partners and suppliers.
A normal day in my life would consist of me answering emails from and meeting with prospective clients, as well as facilitating visa applications for a property inspection tour to Cyprus.
This year Cypriot Realty is arranging five personalised inspection trips to Cyprus.
My experience has shown that the best way to make a decision to purchase property in Cyprus is by taking the time to view the properties first-hand, as well as experience the Cypriot lifestyle.
Being very goal-orientated and a visionary, my philosophy of "If it is to be, it's up to me" has resulted in Cypriot Realty being in operation for nearly five years, with five sub-agents in South Africa and two internationally.
Cypriot Realty is now seen as southern Africa's authoritative specialist in property solutions in Cyprus for residency, citizenship, emigration, retirement and investment.
And because I've always stuck to my short-, medium- and long-term goals I've made this proudly South African company successful and really stand out from the crowd in offshore services.
What I love most about my field of interest is meeting different clients throughout South Africa. It is always interesting that whether they live in Sandton, Somerset West, Ermelo, Welkom, Port Elizabeth, etc South Africans are looking for a Plan B for residency or to relocate, or even as a currency hedge.
If there is one piece of business advice I can give you, it's this: have a very clear goal/plan, stick to it and don't get disheartened by naysayers or a change in the marketplace, because change is inevitable.
Because when things come right (and they always do), it's very rewarding to see something that you've created come alive and be prosperous.
Advice for your personal life: don't feel you have to do everything yourself. Don't be scared to pay professionals for their services as this will free you to spend quality time with family and work "ON" your business and not "IN" it.
I am on an amazing journey and have met many, many interesting clients who have become firm friends because I do believe my intentions are honourable and I am running my business in a spirit of honesty, professionalism and ethics.
- Fin24
* This is a Fin24 user submission. Add your voice to our Women's Wealth Issue and help empower others this Women's Month.
Write a guest post
Share your coping tips
Ask the experts
