In recent years, with the European economic recovery, investment-based immigration through real estate purchase has attracted increasing attention from investors. Among the many European countries offering such programs, Cyprus is highly sought after by investors due to its unique geographical location and the benefit of obtaining a high-value EU passport through property investment; this, in turn, has fueled a boom in the Cypriot real estate market.
WorldWay Group has learned from relevant data that in May 2019, the number of real estate sales in Cyprus rose significantly, with the highest transaction volumes recorded in the Paphos and Limassol regions. This may be related to the new policy of the Cyprus Investment Programme recently implemented.
According to data released by the Department of Lands and Surveys, sales in Paphos more than doubled year-on-year, while sales in Limassol increased by 94%. Compared to 201 contracts in May 2018, the number of real estate sales contracts in Paphos reached 404. In Limassol, the total number of real estate sales contracts increased from 282 in May 2018 to 546. The total number of contracts registered with the Department of Lands and Surveys in May showed a 72% year-on-year increase, marking the highest record since July 2008.
In the first five months of 2019, sales volume increased by 34%; in percentage terms, Paphos saw a sales increase of 41%, and Limassol saw an increase of 34%. Among these, Limassol recorded the highest sales volume (1,768 contracts), followed by Paphos (1,211 contracts). Half of these transactions took place in April and May.
The new Cyprus Investment Programme was officially implemented on May 15 of this year. Currently, by investing in real estate starting from 2 million euros and making a donation of 150,000 euros, an entire family of three generations can obtain a high-value Cypriot EU passport in one go.
A Cypriot EU passport also provides visa-free access to over 150 countries and regions worldwide. Holders are free to move, work, and reside in any of the 28 EU member states (including the UK, Germany, Austria, Italy, France, Finland, etc.), three European Economic Area member states (Norway, Iceland, Liechtenstein), and Switzerland—a total of 32 European countries. They can also enjoy the generous benefits afforded to EU citizens within the European Union (1=32!). Additionally, under certain conditions, it facilitates further immigration to various other European countries.
Eight Advantages of EU Citizenship
1. Freedom of Movement: Any EU citizen, regardless of nationality, can travel freely between EU member states without monitoring.
2. Freedom to Work: You may work in any EU country and enjoy the same working conditions as well as social and tax benefits as local citizens.
3. Freedom of Residence: EU citizens have the right to freely move and reside within the territory of EU member states. Meanwhile, their family members, even if they are not EU citizens, also enjoy the right of residence.
4. Freedom of Education: Children of EU citizens can attend school in any EU country and enjoy the same enrollment conditions as citizens of that country.
5. Quality Living Environment: Holding an EU passport allows you to relocate abroad whenever you wish, settle in Europe, breathe fresh air under blue skies, enjoy safe and healthy food, and lead a comfortable and leisurely European lifestyle.
6. Insurance Coverage Across Europe: EU citizens receive a European Health Insurance Card, which provides emergency treatment during short stays in 27 EU countries. The European Health Insurance Card is issued free of charge and serves as physical proof for managing medical insurance in European countries, facilitating payment and reimbursement.
7. Price Equality: As an EU citizen, when purchasing products or services in any EU country, the costs you pay are exactly the same as those paid by local citizens.
8. Equal Treatment and Non-Discrimination: The EU explicitly prohibits any discrimination based on nationality; any citizen of any member state shall enjoy equal rights. At the same time, the EU combats all forms of discrimination based on gender, race or ethnic origin, religion or belief, disability, age, or sexual orientation.
Immigration is a long-term commitment, and choosing a reputable and professional immigration agency is vital. WorldWay Group, a Top 500 Asian Brand and a leading institution in investment immigration, has consistently been at the forefront of the industry in promoting the Cyprus citizenship program as a pioneer in Cyprus investment immigration: in 2011, we were among the first to introduce the Cyprus permanent residence and exceptional naturalization program to China, launching a wonderful journey of European investment immigration. In 2014, our "Paphos Night" events in Beijing and Shanghai were major investment and cultural exchange events in China focused on European cities. Choosing the professional WorldWay Group, with our strong government relationships, makes your immigration path easier! Consultation Hotline: 400-138-2929.
