Ranked as one of the 5th best relocation destinations in the world, Cyprus offers over 320 days of year round sunshine. High net worth individuals wishing to relocate to Europe may do so by opting for the fast track Cyprus Citizenship by Investment Programme in return for an investment in Cyprus.
The Cyprus Second Passport Program offers a combination of advantages with the new incentives approved by Cyprus’ Council of Ministers in September 2016.
These amendments resulted in the required investment amount being reduced to €2 million from €2.5 million in residential real-estate. The investment should either be made in person or through a company in which the applicant is a shareholder. The type of investment can be one or a combination of the following:
- Investment in real estate, land development and infrastructure projects;
- Purchase or establishment or participation in Cypriot companies or businesses;
- Investment in Alternative Investment Funds or financial assets of Cypriot companies or Cypriot organizations that are licensed by the Cyprus Securities and Exchange Commission (CySec).
- A combination of investments, with the option of purchasing up to €500,000 in Cyprus Government bonds, which must be retained for a 3 year period.
The investment may be sold after a period of three years provided that the investor maintains at least a property with a minimum value of €500,000.
To request more information on this esteemed Citizenship by Investment Programme, please contact our Citizenship Consultants today on +971 4 325 8374