Things you probably didn’t know About Morocco
Morocco is just 8 miles away from Europe, across the Strait of Gibraltar
White is the official colour of mourning. A Moroccan widow wears white for 40 days after the death of her husband
Moroccan Berber women have tattoos in geometric designs on their faces, covering much of their forehead, cheeks and necks. The practice is a form of tribal identification originating from times when it was essential to be able to spot women who had been carried off by another tribe after a raid
Often referred to as the “Red City”, Marrakech requires sun protection and headgear of some kind all year-round, including winter
In Morocco, the liver is traditionally associated with love rather than the heart
In the 1950s Orson Welles stayed at the Hôtel des Îles in Essaouira while filming Othello where, according to legend he met Winston Churchill. Essaouira also became a famous hangout for singers Cat Stevens and Jimi Hendrix in the 1960s
Private baths are not the norm in Morocco. In order to perform the required ritual purification of the body before Muslims can pray, many Moroccans bathe at the public baths (hamman) which is segregated
Morocco is the only African country that is not a member of the African Union.
The country covers 446,550km2 and is slightly larger than California
Morocco was the first country to sign a treaty with the United States in 1786
Apart from Egypt, Morocco is the only other Arab country encouraging friendly relations with Israel, now enjoying direct air, telephone and postal links to each other
During the 50s and 60s, the country served as a literary sanctuary for many foreign writers including Americans William S Burroughs, Paul Bowles, Brion Gysin, Jack Kerouac, Allen Ginsburg and Tennessee Williams
The Romans introduced wine-making to Morocco more than 2,000 years ago. After the establishment of Islam in the 7th century AD, the country’s vineyards were not maintained
During the French Protectorate, they were revived and are now under the control of French company Castel famous for producing Gris de Boulaouane, a rosé with hint of citrus
Morocco’s prized thuya wood was the first burled wood used in the luxury dashboards of the Rolls Royce
The Atlas film studios just outside Ouarzazate are known as ‘Morocco’s Hollywood’ and movies shot in the location include Lawrence of Arabia, Gladiator, Bertolucci’s The Sheltering Sky and Scorsese’s Kundun.
Article by +Roxanne James on behalf of Propertyshowrooms.com
Cyprus’ Investment for Citizenship Programme Attracts €2bn
Cyprus received more than €2bn over the past two years from the property-for-residency scheme according to Interior Minister Socrates Hasikos. The scheme allows third country nations to obtain permanent resident in Cyprus if they buy property costing at least €300,000.
” This plan amongst others has brought the Republic €2bn and more these past two years, ” Hasikos said on Tuesday.
Other schemes offering citizenship for foreign investment in Cyprus include making a deposit of €2m into the treasury to buy shares or bonds with the state-run investment company and also donating €0.5m towards the government’s Research and Technology fund.
Alternatively applicants can invest at least €5m in projects ranging from the purchase of houses, offices, shops and hotels provided the real estate is put to use. Foreign nationals buying companies that were founded and active on the island or else bought shares in companies registered in Cyprus are also eligible for citizenship.
A further option requires applicants to have deposits of up to €5m in a local bank or own a company of which they are the main beneficiary for at least the last three years.
Recent studies conducted by global immigration experts rank the Cyprus Citizenship by Investment programme among the “top ten best in the world” and the country is also the 5th best relocation destination in the world according to an international lifestyle review.
Ranked by key business and leisure indicators Cyprus was the only European country alongside Switzerland to make it into the top five – ahead of London, Madrid and Monaco. Cyprus ranks highly because of its favourable tax regime for new residents, particularly high net worth individuals.
The scheme was introduced by the Cypriot government two years ago to attract high net worth individuals, investors and entrepreneurs with all the benefits available to a Cyprus and EU national.
There are a few reasons the Cypriot Citizenship programme is so attractive:
There is no requirement to make a donation to the local government unlike the Maltese citizenship scheme which requires a donation of €650,000.
Applicants are not required to live on the island prior to or during the application process or even after citizenship is granted. Again, other countries including Malta require applicants to physically live in the country one year prior to filing an application for citizenship.
It is the fastest application process for EU Citizenship currently available with passports issued within 3 to 4 months of filing.
Investors are able to take advantage of Cyprus’ attractive financial centre due to its highly favourable tax system and strategic location at the crossroads of three continents – Europe, Africa and Asia.
Cyprus enjoys a high standard of living with good access to reputable private schools and medical facilities. It also has one of the lowest crime rates in the EU.
The sentiment among real estate agents in Cyprus is that opportunities for foreign investors will increase during 2105, particularly in the apartments market in Famagusta, Nicosia and residential areas within towns. Foreign investment has already picked up in the commercial property market; with the most transaction activity in grade A office buildings offering mid-term tenancies of around 8-12 years and yielding an average 6% annually. Rental demand for good quality office premises has risen in Nicosia and Limassol, with residential property also gaining traction as Cypriot business districts continue their expansion.
Article by +Roxanne James on behalf of Propertyshowrooms.com
Bulgaria Pulls out Stops to Boost Tourism after Bumper Winter Season
Simplification of the visa requirements of Russian and Turkish visitors to Bulgaria introduced in February this year look set to significantly boost Bulgaria’s tourist sector, an important economic driver for the country.
Bulgaria’s tourism minister Nikolina Angelkova recently reported 9% growth in tourism over an extremely successful winter season that saw an additional 80,000 visitors to its alpine resorts, boosting revenue a further €17.5m.
She said that the number of Turkish visitors had increased by almost 30% as a result of the simplification of visa requirements while German tourists increased 17%, Austrian 7% and visitors from Israel by more than 20%.
The visa application process was streamlined to try and improve visitor numbers from Russia and Ukraine in attempts to improve relations with the country after Bulgaria’s support for EU sanctions and its cancellation of major Russian energy projects.
More visitors are expected
Angelkova commented on the upcoming summer season arguing that the preliminary forecast was optimistic except for the Russian and Ukrainian market, expected to decline by around 30% this year.
However, more visitors are expected from other nations that could limit the shortfall for the coming summer season. Arrivals from Germany are expected to increase by around 5%, Israel 10%, France 4.5%, Lithuania, Latvia and Moldova 40% and Poland, Czech Republic and Belarus by 5.10%.
The tourism minister suggested that the number of tourists arriving from UK and Romania was expected to remain unchanged, while visitors from Greece – one of Bulgaria’s most important markets – are set to increase by around 10%.
Bulgaria’s government are also making headway to improve the country’s tourism infrastructure and have been developing cultural and historical routes together with promotional material and maps that are available imminently.
Bulgaria is a fantastic country for property investment because of its place at the base of a growth curve in its tourist markets. Bulgarian property prices remain low compared with pre-crisis levels there are some great yield opportunities in resort areas, both beach and ski. This is a country that has everything on offer to the discerning traveller and although relatively under-developed, the outlook is rather bright.
Article by +Roxanne James on behalf of Propertyshowrooms.com
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