Beachside Villas

Beachside Villas is a community of 28 beachfront villas in Argaka in the Polis region, Paphos, developed by Pafilia Property Developers. The project consists of 2 and 3-bedroom villas with finishes using handcrafted materials, combining modern lines with traditional Cyprus style.

The project is located not far from the sandy beach – approximately 150 metres according to Pafilia – next to a long stretch of coastline and the pristine Akamas Peninsula. The Argaka area is a 10-minute drive from the town of Polis and is part of a special nature conservation area in Cyprus.

Beachside Villas Features

Beachside Villas offers 2 and 3-bedroom villas with floor areas from 130 to 187 m² and plots from 350 m² upwards. Each villa is individually designed with a blend of sophistication and simplicity, taking the endless blue sky and sea views as the focal point of the interior design.

The units have large terraces and balconies, optional private pools, jacuzzis, and outdoor firepits – catering to a year-round outdoor lifestyle. Finishes use handcrafted materials, which are distinctive and unique.

Argaka and Polis – the investment case

Polis is a small town in the north of the Paphos region, known for its slow pace of life and pristine, uncommercialised nature. The Argaka area in Polis is a peaceful coastal region with a long coastline and views of the Akamas Peninsula.

The distance to the centre of Polis is approximately 8 km, to Paphos is about 35 km, and to Paphos International Airport is about 50 km. Akamas National Park – a nature reserve with pine forests, pristine beaches, and hiking trails – is just a few minutes' drive away. The area attracts buyers looking for a peaceful second home or holiday villa.

Pafilia Property Developers – the developer

Pafilia Property Developers, founded in 1977 by Elias Eliades, is the largest private property developer in Cyprus with 49 years of experience and a portfolio valued at €3 billion. Pafilia is behind ONE Limassol – the tallest building on the Mediterranean coast, the 5-star Minthis resort, and many other iconic projects. The company has been honoured with over 39 international awards and is a market leader in the Cyprus permanent residency programme.

Cyprus Permanent Residence Programme

Under Regulation 6(2) of the Aliens and Immigration Regulations, investors who purchase new residential property (first sale) with a minimum value of €300,000 (excluding VAT) are eligible to apply for Cyprus permanent residency via the fast-track route. The applicant, along with their spouse and dependent children up to 25 years old (full-time students), are included in the same application. A minimum annual income of €50,000 from sources outside Cyprus is required for the main applicant, plus €15,000 for the spouse and €10,000 for each dependent child. Parents and parents-in-law are no longer considered dependents as per the update of 02/05/2023.

Processing time is 2-6 months. Permanent residency is valid indefinitely, with no renewal required, only a minimum of one entry to Cyprus every two years. After 8 years of actual residency within the last 10 years, applicants are eligible to apply for Cyprus citizenship by naturalisation.

VAT and Investment Notes

Standard VAT of 19% applies to new, unused property in Cyprus. According to Law 42(I)/2023, the reduced VAT of 5% only applies when purchasing a primary residence, for the first 130 m² and a maximum price of €350,000, provided that the total floor area does not exceed 190 m² and the total price does not exceed €475,000. The buyer must commit to using the property as their primary residence for 10 consecutive years.

In the case of purchase for rental investment or as a holiday home, 19% VAT applies to the entire property value. Buyers should consider an investment structure that aligns with their residency goals and personal finances.