Cyprus is an island unique in its’ location, tax laws, climate and natural resources. Living in Cyprus is great; investing into real estate and business on its’ territory is even better!
The attractive taxation system and citizenship by investment programmes annually attract numerous businessmen and tourists from all over the world, who want to get an EU passport, invest into real estate, and optimize their expenses, so that the profits of their enterprises and real estate are not unduly taxed.
In March 2014, the Government of the Republic Cyprus adopted an amendment to the law, which allows foreign investors to obtain the citizenship of Cyprus (EU), along with a Cypriot passport, through a special governmental programme.
The essence of the programme is that the investor invests into his choice of real estate Companies or Businesses or Investment Funds or Financial Assets and consequently receives the citizenship of Cyprus within a period of approximately 6 months for the whole family, including the parents of the investor!
2019 promises both Cypriots and citizens of other states, who have registered their enterprises on the territory of the Republic of Cyprus, reside or own real estate in the country, good prospects in terms of taxation and investment programmes. Taxes in Cyprus provide numerous benefits and withstand any competition, while the real estate market remains attractive to both Russian citizens, as well as investors from other countries.
In February 2019, the consulting company Knight Frank published a report on popular destinations for obtaining real estate among Russians. Over the past 2 years, interest in Cypriot real estate has quadrupled.