The granting of dual citizenship through investments, which the Republic of Cyprus has been promoting since the end of 2013, has already attracted hundreds of the world’s business elite, from international policy-makers to private individuals.

It is also important to note that some of these investors feature on the Forbes 100 list, which creates huge impetus in the island’s business world, which in turn spells multiple benefits for the entire local economy.

However, until recently, this development was thanks to the major advantages offered by other cities on the island - especially Limassol, which, with its intense efforts to become a renowned business centre, attracted most of the investment through its first multi-storey towers, which were constructed through foreign investment. As always, our region did not immediately benefit from the growth of the economy, although this gave it the momentum to work hard to stand out and make progress on its own.

Recently, the major projects announced in our region - especially the Ayia Napa Marina, along with the Sun City mixed development in Ayia Thekla – have started to attract the interest of large and important investors, who are choosing our region not only for its beauty, but also for its growth prospects within the real estate and tourism sectors.

What South Famagusta offers to these investors extends far beyond the opportunity to acquire a beautiful holiday home on the beach, or an investment that is safe and secure.  

The greatest advantage we can give those who select us comes from the distinctiveness of our region; security for their families; easy access to education and the health system. These services and facilities are not only necessities, but also choices for both the investor and their inner circle.

Our trained staff with high academic qualifications may be an asset, and perhaps the reason for choosing to transfer some of the administrative elements of their businesses to our area. Added to this is that Ayia Napa and Protaras offer the opportunity to become a permanent holiday choice throughout the year.

However, in my opinion, we - the Famagusta entrepreneurs - will have to change our business model significantly to give these investors the solutions they seek through sophisticated and quality services. More specifically, to supply them with products that meet their high demands.

The old business model that we have become accustomed to - of family-run businesses that are run through sentimental and poor management procedures - is unlikely to satisfy such customers. What the current market requires now is to strive for a serious transition to quality products and services, along with rigorous corporate management for all businesses that come either directly or indirectly into contact with investors.

The influx of foreigners who will choose South Famagusta for investment purposes - whether opting for naturalisation or not - will end up purchasing one or more homes, making our region their second home.

It is perfectly natural that this development will bring benefits to our region, as they will be ready to invest large amounts not only in real estate, but in all sectors of the economy relating to living, holiday and entertainment purposes. As distasteful as it sounds, often, the display of wealth and power by local businesses will be to their benefit; it is no coincidence that Limassol’s current boom has seen the rise of luxury restaurants and hotels that offer luxury services and products.

We cannot ignore the need for quality modernisation, and offering the ‘luxury product’, as our region is indeed well equipped for this, providing we embrace the need to create a better tourist and real estate product.

As it stands, Ayia Napa and Protaras remain the most paradisiacal parts of Cyprus, with the most awarded beaches in the whole of the Mediterranean.

What is most urgent now is to develop a long-term strategy that will save us from mass tourism and cheap imitations. Our businesses have to discover themselves through originality and uniqueness.

This global access to investors, which is being given to us today through the Cyprus investor identification programme, is the golden key to attracting a large and unprecedented influx of people with high incomes, and offering them permanent solutions to make South Famagusta region their second home.

At the end of the day, our case draws parallels to the impressive success story of AVIS car hire, who for years held the second largest market share after Hertz, so has always strived to offer its customers better value. Through a relentless and long-term advertising campaign, it has managed to significantly close the gap between itself and the market leader, and has since become a formidable force within its field.

The investors have come to stay, and it is up to us to ensure that we are giving them the best value.