Cyprus Investment Program

It is obvious that now is the best time to buy property in Cyprus. The Government of the Republic of Cyprus has called for speeding up the process of issuing passports as part of the Cyprus Investment Program in the context of a coronavirus. Currently, the real average time for obtaining a Cyprus passport for an investor is approximately 9 months. Meanwhile, it became known that the Government of Cyprus wants to accelerate the process of granting citizenship for investment in order to give an impetus to the Cypriot economy. In addition, today you can buy real estate at very attractive prices, since developers are more flexible in terms of discounts and in terms of negotiating contracts. Meanwhile, Malta, for example, is changing the conditions for obtaining a “golden passport”. The Malta Investment Immigration Agency has notified that the application for citizenship by the current criteria will only be accepted until September 30, 2020. The first stage of the citizenship process, applying for a residence permit, will last until July 31, 2020. The current Individual Investor Program was launched in 2014 and is designed to issue 1,800 gold passports. To date, it has already been completed by more than 70%, and within the next few months the planned volume will be completely exhausted. The Government of Malta at the end of 2020 may tighten the conditions for issuing "golden passports" in exchange for investment. Apparently, the amount that foreigners wishing to obtain Malta passports will have to pay for the purchase or rental of real estate on the island will increase.

It should also be noted that according to recent studies conducted by experts on global immigration, the Cyprus Investment Program is among the "top ten in the world." The main advantage of the Cypriot passport program, compared with similar programs in other countries, is the ability to sell the acquired investment 5 years after the issuance of the passport , in addition, investments can be made through a range of instruments.

It is important to understand that a Cypriot passport is not just a residence permit or a multiple entry visa. A Cyprus passport provides full European citizenship and gives all the rights and opportunities of a citizen of the European Union (the country has been a member of the EU since 2004).

The country has a strategically advantageous geographical position, as it lies between Europe, the Middle East, Africa and Asia. Therefore, Cyprus provides privileged and easy access to enterprises on four continents. The country also has a favorable tax regime for new residents, especially in relation to high-income individuals.