Are you looking to move to a country that boasts almost year-round sunshine?
What if we told you that you could couple that dream with a sound investment programme? One that grants you citizenship in a world-renowned centre of commerce?
Before we get too ahead of ourselves, let’s explain what investment citizenship is.
What Is Investment Citizenship?
Investment citizenship is a form of immigrant investor programme. They’re used by countries all over the world from Canada to Angola. But the two most notable ones at the moment are Malta’s and Cyprus’.
First, there’s Malta’s ‘individual investor programme’. This offers citizenship in return for a €650,000 contribution to the government. On top of this, investors must make an investment of €150,000 in government-chosen assets.
The programme is similar in Cyprus, but well explain the details in a moment.
Investment citizenship is a chance to gain residency in another country. The bonus is, you can do this whilst investing in assets. Plus, the arguments against countries running these programmes are pretty weak.
After all, it’s their sovereign right to offer these ‘golden passports’.
What Is A Golden Passport?
The golden passport is a term for the residency pay-off in these programmes.
This golden passport comes after six months of living in Cyprus. On top of that, residents’ golden passport allows them to:
- Live and work freely in that country.
- Gain an education in that country.
- Visit 157 other countries Visa-free.
- Conduct business in that country.
- Gain associated tax benefits.
Does that sound like something that interests you personally or professionally? Then why not join the 3500 investors that have enrolled in Cyprus’ programme since 2013?
But to join this opportune investment centre, you need to know:
Who Is Eligible?
There are a couple of different ways that you can become eligible for Cyprus’ programme.
The first would be to:
- Buy real estate valued for at least €300,000.
- Have an annual income of €30,000.
- Transfer €30,000 to a Cypriot-based bank and pledge the sum for three years.
- Have a clean criminal record in your current country.
Still, investors might consider the second option. This would entail:
- Investing €2million (+ VAT) in commercial/business property, or
- Investing in an already operating business (plus, purchasing a flat worth at least €500,000).
- Making a €150,000 donation to Cyprus’ development and affordable housing foundation.
- A certificate of good conduct.
- Holding a Schengen visa at the time of purchase.
What’s attractive about this second option is that you can sell the assets after five years.
There is also no need for applicants to live in Cyprus prior, during, or after the application. This means that the decision to remain or move is still up to you.
It is a fairly straightforward process, either way. But you might find yourself asking what the benefits and returns on such an investment might be.
What Are The Benefits Of Investment Citizenship?
With a good property group in Cyprus, you can reap lifestyle and financial benefits. As well as tax benefits, you can expect:
- An 8-10% value increase per annum for resale properties.
- At least 4-5% investment return when renting.
Plus, you won’tlose your EU citizenship. That’s right, Cyprus legislation permits dual citizenship!
The benefits of enrolling in Cyprus’ investment citizenship programme are many. If you do business worldwide, then Cyprus’ location might attract you.
Or, if you’re looking to invest in new markets, then this programme might appeal to you.
You might even be looking to retire in the sun and invest in some local business and property. If so, Cyprus may be the place to invest in citizenship.
About the author: Harry Patté-Dobbs is a content writing and PR expert at Pearl Lemon! He’s written for blogs, news, and media outlets and loves films, food, and wellness. You can usually find him either reading or writing.