In recent years, with the recovery of the European economy, more and more investors have turned their attention to European countries. In particular, countries in Europe that implement property-based immigration programs are highly favored by international investors. Among them, Cyprus—the jewel of the Mediterranean, the birthplace of Aphrodite, and a world-famous tourist destination—is especially popular with investors. Let us explore the top ten reasons for investment immigration to Cyprus.
1. Political Stability and Good Social Security
When it comes to safer countries in Europe, Cyprus is definitely on the list. A survey once showed that Cyprus has the lowest crime rate among EU countries, at only 0.3%. At the same time, the Cypriot government has long been committed to improving friendly relations with neighboring countries and major global powers.
2. Economic Recovery and Increasing Investment Opportunities
In recent years, the economy of Cyprus has risen rapidly, gradually becoming a powerhouse in the Mediterranean region. The development of tertiary industries such as tourism, finance, and insurance has been particularly rapid, and it has gradually joined the ranks of developed countries. In 2017, the economy of Cyprus achieved an above-expectations growth of 3.9%, ranking among the best in the Eurozone. The discovery of offshore natural gas fields has also provided new opportunities for the economic development of Cyprus.
3. Immigration Policy Attracting Investment and Property Purchases
The Cypriot government has launched a property-based immigration policy. Foreign citizens who invest in property in Cyprus starting from 300,000 Euros can apply for permanent residency in Cyprus for three generations of their family. By investing from 2 million Euros and donating 150,000 Euros, the entire family of three generations can apply for a Cypriot EU passport. Holders of a Cypriot EU passport can freely travel, reside, work, and live in all 28 EU member states, as well as the 3 European Economic Area member states (Norway, Iceland, Liechtenstein) and Switzerland—a total of 32 European countries. They also enjoy the same treatment as local citizens in the 28 EU member states, which has attracted many high-net-worth individuals from around the world to purchase property in Cyprus.
Currently, the Cypriot government is actively improving the business and investment environment to attract merchants and enterprises from all over the world to invest in Cyprus. With a series of reform measures to improve efficiency and enhance competitiveness, it is believed that the economy of Cyprus will continue to develop, thereby attracting more investors to invest and purchase property here.
4. Sound Legal System and High Transparency
The legal system of Cyprus is consistent with that of the EU and is very sound and highly transparent, with social and economic activities governed by law. There are many legal consulting firms in Cyprus, making it convenient for investors to understand the local legal environment and ensure fairness and justice. Cyprus has a developed service industry, and its unique geographical location and special status as an EU member state also make it an important springboard for Chinese capital to enter Europe and reach international markets in the Middle East and North Africa, especially for enterprises looking to use Cyprus as a springboard to enter the European market.
5. One of the Most Competitive Countries in the World
According to the World Economic Forum's "Global Competitiveness Report 2018," Cyprus ranks high globally and is listed as an innovation-driven country. The report indicates that Cyprus has sound international infrastructure, superior national education and medical standards, high trade market efficiency, and good technical conditions. Furthermore, in the World Bank's 2018 Ease of Doing Business Index, Cyprus ranked 53rd out of 190 countries and regions, making it one of the most competitive countries in the world.
6. Integration into the European Economic Integration Process
Cyprus has consistently adjusted its domestic economic policies and economic structure in accordance with the requirements of the EU and the Eurozone, continuing to integrate into the European economic integration process, with stable and sustainable economic development. The government has also launched a series of economic stimulus plans to further increase infrastructure construction, continuously improve the investment environment and tourism facilities, and continue to attract global tourists and foreign investment. Cyprus is moving forward as a commercial and financial center in the Mediterranean region.
7. Government Implementation of a Series of Reform Measures
The Cypriot government has launched a series of reform plans to promote social and economic development, including judicial system reform, local government reform, implementation of a national health plan, continued increase in national welfare, implementation of tourism development strategies, and expansion of investment in the hotel industry and air network connectivity, as well as the construction of casino resorts and yacht marinas. New regulations have been introduced to enhance the ability of public universities and research institutions to convert research into market applications; improve the development prospects of the shipping industry; and implement energy planning, including the establishment of natural gas infrastructure and a sovereign wealth fund to manage future natural gas revenues. This series of reform measures demonstrates the government's determination to improve the livelihoods and investment environment of Cyprus.
8. The Future "Las Vegas of Europe"
The gaming industry in Cyprus is developing rapidly. The large-scale integrated casino project, "City of Dreams Mediterranean," located in Limassol, will put Cyprus on the world tourism map and turn it into the "Las Vegas" of Europe, attracting tourists from neighboring countries and even from across Europe and the world. According to the plan, this large-scale integrated casino resort has a total investment of approximately 550 million Euros and is expected to be completed and open to the public in 2021.
9. Offshore Natural Gas Exploration and Development in the Exclusive Economic Zone
In 2011, the U.S. company Noble Energy discovered significant natural gas resources off the southern coast of Cyprus. Subsequently, the U.S. energy giant ExxonMobil also announced the discovery of large quantities of natural gas in the Exclusive Economic Zone of Cyprus. The discovery of world-class energy proves the potential of the Exclusive Economic Zone of Cyprus. Possessing high-quality reserves allows Cyprus to potentially become a future energy hub for Europe, reducing its dependence on Russian natural gas.
10. Low Taxes and a Friendly Investment Environment
Cyprus is one of the countries with the lowest taxes in the EU, with no inheritance tax, no gift tax, and no global taxation. The corporate tax rate is only 12.5%, and it has signed double taxation avoidance treaties with more than 40 countries, including China, attracting many foreign investment companies to register on the island.
As an EU member state, Cyprus has a unique geographical location at the intersection of Europe, Asia, and Africa, making its strategic position very important. Sharp-minded investors have already discovered this European investment hotspot. Choose investment immigration to Cyprus, base yourself in Cyprus, and expand your business to the EU market as well as the North African and Middle Eastern markets. What are you waiting for?
WorldWay Group—Pioneer of the Cyprus EU Passport Program
In 2011, we were among the first to introduce the Cyprus property-based immigration program to China, starting a wonderful journey of European investment immigration.
In 2014, we successfully held the "Paphos Night" event in Beijing and Shanghai, which was the first investment and cultural exchange event in China themed around a European city.
Choose WorldWay for your Cyprus EU passport and make your immigration journey easier!
For more details on Cyprus immigration, please consult: 400-138-2929.
