Cyprus has won itself a top-ten position in the most preferred relocation destination list. It gained entrance to this list through the citizenship by investment category.
Investors seeking to expand businesses to global levels consider many things before they can choose their migration destination. According to recent studies, Cyprus has won itself a top-ten position in the most preferred relocation destination list. To be precise, it gained entrance to this list through the citizenship by investment category. The business and investor immigration service department is usually busier than the other departments because hundreds of investors want to become citizens of Cyprus every year.
Experts’ Opinion
According to Knight Frank, a global and independent consultancy firm in real estate, Cyprus grabbed the fifth position in the world as a preferred migration destination. It was notable that Cyprus out shined Madrid and London, which have been known to be among the best. It grabbed the top-five position together with Switzerland.
Cyprus citizenship by investment targets high-end individuals who are likely to promote the economy of the country in the near future. The state has made friendly changes to the immigration policy that make it easy for investors to earn a citizenship here. The good thing is that this friendly condition extends to investors’ families in order to make it easy to relocate to this country.
Why Cyprus Citizenship by Investment Is Considered the Best in Europe
Unlike many other states, which require one to have lived in the country before applying for citizenship, Cyprus citizenship can be applied for immediately on arrival and still be a success. All other EU states will ask the investors to have stayed in the country for some time before they qualify for citizenship.
After completing an application, you will receive the Cypriot passport in a span of 3 months. According to reports, this is one of the fastest in the region. Most people prefer investing in Cyprus so that they can gain a chance to enjoy EU citizenship benefits related to their businesses and especially business travel benefits.
Another reason why Cyprus citizenship by investment is one of the best is the fact that making a donation to the local government is easy. It does not require you to meet any conditions. This is contrary to what many states request.
Cyprus Citizenship by Investment Options
Before applying for citizenship by investment, you have some options to consider. Below, we outline the common ones most people follow and easily find successful.
- Â Â Â Â Â Â Â Â Investing EUR 2.5M: this requires the investor to invest such an amount of money and an additional V.A.T of either 19%, 5% or 0% depending on the investment. For instance, you can buy real estate properties worth EUR 2.5M and liquidate them after 3 years.
- Â Â Â Â Â Â Â Â Investing EUR 5.5M: this form of investment is a bit detailed. It calls for the investor to have a fixed deposit account with a Cypriot bank and make sure that the money is in government bonds. The investment can also be in the form of property worth the same amount and V.A.T of either 19%, 5% or 0%.
Final Word
With the above information, business people eyeing to relocate their businesses or invest in Cyprus have a reason to smile. They can now enjoy secondary citizenship with ease both for their family and themselves.
