Cyprus Investment Immigration Program — a Popular Option amongst the Global Elite
Recent data released by the Interior Ministry of Cyprus shows that the country's popular Cyprus investment immigration program has led to inflow of FDI exceeding €2 billion into the country's economy during 2012-13 to 2014-15. The Cyprus investment immigration program offers permanent residency as well as citizenship to high net-worth individuals from all over the world.
Investors can gain permanent residency in Cyprus by purchasing property costing a minimum sum of €300,000. For those seeking citizenship, Cyprus offers multiple options ranging from investment in bonds to purchase of real estate or companies.
One option for obtaining citizenship involves purchase of shares or bonds of state-run investment companies of minimum value of €2 million along with a €0.5 million donation to the Research and Technology Fund instituted by the government.
Or, applicants can make investment of not less than € 5 million towards purchase of residential property, commercial real estate, hotels, shops, or offices with the only condition that the property so purchased must be put to use by the investor.
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The content of this article reflects the personal insight of Attorney Colin Singer and needs no disclaimer.
