
Cyprus is one of the countries in Europe that have the Citizen by Investment (CBI) program.
The Republic of Cyprus is an island in the Mediterranean sea popular for its tourism, real estate, and financial services. It is famous amongst the high net worth individuals and investors for its Citizenship-through-investment program.
Cyprus is one of the countries in Europe that have the Citizen by Investment (CBI) program.
In recent years, Cyprus has taken steps to package itself as a competitive destination for individuals and companies seeking favorable non-domicile tax residency.
An EU passport provides many benefits including travel, education, safety, business, and healthcare to name a few. For either personal or business reasons some people need to acquire an EU passport.
Now a popular privilege in life, those who can afford it often acquire a second passport and citizenship in another country either for business, personal reasons or both.
The Cyprus Citizenship Program currently one of the most reputable schemes, and has set stricter criteria and will become even more beneficial to individuals that invest in it.
In recent years Cyprus has flourished with a strong economy, growing business sector and developing real estate sector. This was not always the case in Cyprus, as in 2011 the island suffered from a financial downturn, despite this, Cyprus has gone from strength to strength at a much quicker rate than experts predicted.
Land developers and service sector professionals in Cyprus have confirmed they continue to hear reports that Greece’s new government is planning to develop and launch a citizenship by investment program that is very similar to Cyprus’s program.
The Republic of Cyprus has seen its ups and downs from an economic standpoint. Specifically, after the recession of 2008, Cyprus picked up the broken economy and with the help of various programs like the Cyprus Citizenship Program in conjunction with real estate developers. It’s clear that the construction and development industry is still in revival mode and is recovering from the recession years but it’s driven by the Citizenship program. The industry may be dependent on the program which focuses on issuing passports and citizenship to high-value overseas investors and new properties around Cyprus. Developers see a bright future for Cyprus as large projects will be developed in the near future and other big projects will be announced.