• +357 (24) 822 700
  • info@newzoedevelopers.com
  • Neapolis Street 1, Forest Beach Estate Shop 5, 7041 Oroklini

Decades of experience in the Cyprus property market have helped us choose our projects carefully

  • High quality construction
  • Excellent location either by the beach or the town centre
  • Title deeds guaranteed
  • No mortgage on any project
  • Easy to rent out due to location


a company with a long history in the Cyprus property market

Newzoe Developers Ltd, a member of the Palourtis Real Estate Agents Ltd. Group established in 1970, is a company in the development of land and the construction of high standard tourist and residential complexes in selected locations. Our priority is to build units of the highest standard, in the center of Larnaca area and near the sea.

All projects are sponsored by the company without any mortgages, along with timely issuing of property title deeds, and good locations which are the 3 essential requirements of our current prospective buyers. On this occasion, we thank our customers for the trust they have shown us since 1970 – 50 full years of reliance !!

Today the group consists of 4 subsidiary companies, each developing a separate project close to the beach and in Larnaca town center. Additionally, a long standing real estate agency with an experienced and professional sales force completes the package of a full service offered to our clients. After-sales service is also a must for us.

Corporate Tax

Corporate tax is charge at a flat rate of 12,5% on the taxable profits of a Cyprus tax resident company.

Various tax exemptions apply such as:

  • Exemptions in respect of dividends received from other companies
  • No tax on capital gains derived from the disposal of securities, provided the disposed company does not hold any immovable property in Cyprus.
  • Generally no withholding taxes on payments from Cyprus.
  • Tax relief of foreign tax paid
  • Introduction of Notional Interest Deduction (“NID”) on ‘New Capital’ contributed and paid to Cypriot companies from 2015 onwards
  • Cyprus tax resident companies benefit from Cyprus’ extensive double taxation treaty network with over 43 countries worldwide

Legal System

  • Cyprus is a common law jurisdiction. Cypriot law is reliant on precedent extracted from the English common law for stability and finality. The Republic of Cyprus is a democracy with a presidential system of government. The President is elected for 5 years directly by the people in a secret ballot with universal suffrage.
  • Ownership in Cyprus is safeguarded by the provisions of the Constitution that is the ultimate Law of Cyprus, which establishes the equality of all persons and respect for human rights, including the right to ownership, without discriminations. People residing in Cyprus can enjoy all rights relating to ownership of their property without any interference either from the State or individuals.
  • All rights associated with immovable property, land surveying, cartography, registration, transfer and mortgage of immovable property, ownership of land, evaluation of immovable property and management of state land are monitored and protected by the Department of Lands and Surveys which is the competent Government Service that provides services related to immovable property in general.

Our Team

  • Mr. George NicolaManaging Director

  • Mr. Adamos PalourtisManaging Director

  • Mr. Gregoris AdamouSales Manager

Security, reliability, honesty are a few of the qualities we offer our clients with their purchase. These qualities have helped us establish long standing relationships with clients and business associates both in Cyprus and abroad.

For Resale Properties visit Palourtis Real Estate Agents