On June 11, a meeting of representatives of the Cyprus Association of Builders with the head of state Nikos Anastasiadis took place in the presidential palace in Nicosia. They basically talked about the scheme of issuing Cypriot passports to foreign millionaires in exchange for investments, which, for the most part, are invested in the real estate sector. Developers are dissatisfied with the tightening of requirements for rich foreigners and urge to deal with them softerly. During the meeting with Anastasiadis, the developers were concerned about how to balance the interest between the increased level of requests for the purchase of real estate by foreign millionaires and the requirements of the EU to toughen checks of candidates for citizenship of the Republic of Cyprus in exchange for investment.
OFFERS OF DEVELOPMENTS. According to SigmaLive, developers presented the following proposals to the President: To revise the decision – in the direction of increase – about the introduction of a restriction on issuance of passports to foreign investors on the accelerated naturalization scheme (not 700 passports maximum per year, and more).
PREDICTURE. In the autumn of 2017, the authorities of the Republic of Cyprus have been criticized by a number of European media and politicians in connection with the “sale” of Cypriot passports to Russian and Ukrainian oligarchs. In the beginning of summer 2018, the Government of the Republic of Cyprus announced the tightening of the verification process for potential investors who are ready to invest in the economy of Cyprus funds in exchange for citizenship. A ceiling was introduced for the number of passports (a maximum of 700) that can be issued to foreign investors during the year. Revise the deadlines – in the direction of reduction – when considering the claims of foreign millionaires (recently, the time to study candidates and conduct checks on funds invested in Cyprus has been increased from three to six months).
Purchase of a new residential property in Cyprus with a minimum value of €300,000 (plus VAT – 19% or 5%). Proof of a guaranteed annual income of at least €30,000 from abroad is required. The amount is increased by €5,000 for each family member (spouse and children) and €8,000 for each parent of the main […]
The company – “CYPRUS FOR INVESTMENTS LTD” – offers its clients an interest-free installment plan for the purchase of new property in Cyprus: Installment term – up to 24 months; The first installment is only – 40%; Early repayment is welcome; Security and fixing of payments – only bank transfer according to the details of […]
In 2021, the population of our planet has adapted to the pandemic, which brought inconvenience and innovation to our lives! Each state suffers losses in the economy and falling GDP. But there are also pluses, one of which is the development of digital currency! Several developers in Cyprus (our friends and partners) have developed a […]
Dear clients, in this topic we would like to briefly describe the activities of our company, as well as indicate 5 reasons why you should contact a real estate agency when selecting real estate! The agency’s commission is paid by the developer, the size of which, as a rule, is the same for everyone on […]
The international health organization has identified a list of 10 countries in the world that were able to cope with the COVID – 19 virus better than others. We are proud to announce that the Government of Cyprus has adequately coped with the difficulties and has saved its population from a terrible disease! Also, a […]