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Cyprus Has One of the Best Citizenship by Investment Programs in the World

Cyprus-Has-One-of-the-Best-Citizenship-by-Investment-Programs-in-the-WorldBased on a recent survey, Cyprus has one of the best citizenship by investment programs for high-net worth individuals in the world. Cyprus is one of the best relocation destinations and favorable taxation systems in the world for foreign citizens looking to leave their native countries. For details about immigration programs you may refer to our lawyers in Cyprus.

Why is Cyprus one of the best countries to relocate to?

According to the most recent global immigration survey, Cyprus ranked fifth in the world when it comes to attracting foreign high-net worth individuals deciding to emigrate from their home countries. Cyprus, along with Switzerland have been preferred to much popular destinations such as London, Madrid and Monaco. According to the survey, Cyprus has become one of the best relocation destinations in the world thanks to its geographical location, climate and stable political environment. For foreign investors Cyprus has one of the most favorable tax regimes and one of the most inexpensive workforces in both Europe and in the world. It must be noted foreign investors look at Cyprus both as a home and place of doing business.

The fact that the citizenship by investment program in Cyprus is one of the cheapest in the world has helped the country strengthen its position in the survey. For details about qualifications criteria for the citizenship by investment program you can contact our law firm in Cyprus.

What does the citizenship be investment program entail?

The citizenship by investment program was recently introduced in the Cypriot Civil Law as a part of the immigration policy dedicated to non-EU applicants. The scheme is dedicated to high-net individuals, but also to investors and enterprisers seeking to expand their businesses in Cyprus. The program allows foreign citizens to obtain a Cypriot passport and provides all the benefits of an EU national. Foreign citizens can apply for Cypriot citizenship if all the requirements below are fulfilled:

  • -          they buy a Cypriot property worth at least 500,000 euros, VAT not included,
  • -          have a clean criminal record,
  • -          submit a confirmation that the applicant is not on the list of persons whose properties must be frozen by the EU.

Additionally, the applicant must deposit certain amounts of money in a Cypriot bank, make a direct investment or adhere to collective investment scheme agreed by the Government.

For help with the documentation for the citizenship by investment program do not hesitate to get in touch with our Cypriot law firm.

 

 

Comments

  • Ally Miller 2016-03-02

    I really like this post. I agree that the statement should be made in this post about citizenship. Thanks !

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