As a popular tourist destination, Cyprus boasts beautiful scenery and charming beaches, making it a preferred vacation spot for tourists from all over the world. According to the latest data released by The Cyprus Statistical Service, September 2019 became the month with the highest number of tourist arrivals in the history of Cyprus.
Data shows that the total number of travelers arriving in September 2019 reached 524,707, an increase of 0.9% compared to the same period last year. From January to September this year, the total number of visitors to Cyprus was 3,260,546, an increase of 0.6% compared to 3,239,760 in the same period of 2018, also setting a new record for the number of visitors to Cyprus in the first nine months of the year.
With the booming development of the tourism industry in Cyprus and the continuous rise in visitor numbers, coupled with the support of the Cyprus investment-based citizenship policy, the real estate sector in Cyprus has also flourished. According to data released by Eurostat, based on the House Price Index, house prices in the Eurozone and the EU rose by 4.2% year-on-year in the second quarter of 2019. Compared with the first quarter of 2019, house prices in the Eurozone rose by 1.7% and in the EU by 1.6% in the second quarter. Among them, the quarterly growth rate of house prices in Cyprus reached 4.2%, with an annual growth of 8%; the growth rates in the previous quarter were 0.8% and 4.3% respectively.
With both the tourism and real estate industries on the rise, immigration through property purchase in Cyprus has also been positively affected. According to data released by Stock Watch Cyprus, 550 investors have had their applications for the investment-based citizenship program approved so far this year. This figure is second only to the record-breaking year of 2018, when 581 main applicants were approved.
As an immigration destination, the Cyprus citizenship-by-investment program is highly favored by high-net-worth individuals. Currently, through the Cyprus Investment Programme, applicants can purchase at least 2 million euros worth of real estate in Cyprus (whether one or multiple properties) and donate 150,000 euros to apply for a Cyprus EU passport for three generations of their family.
In addition to applying for citizenship in Cyprus through property purchase, investors can also apply for immigration to Cyprus by purchasing, establishing, or participating in the investment of a Cyprus company. For example, the Limassol Golf Resort project introduced by Worldway is an equity buyback immigration project suitable for those who purchase, establish, or participate in the investment of a Cyprus company. By investing 2 million euros to subscribe to the equity of this project, while also purchasing at least 500,000 euros worth of real estate in Cyprus and donating 150,000 euros, the whole family of three generations can apply for and obtain a Cyprus EU passport.
Advantages of the Cyprus EU Passport
1. One person invests, and the whole family of three generations can apply for an EU passport, with visa-free access to more than 150 countries and regions worldwide;
2. 1=32: Holding a Cyprus EU passport allows you to freely live, work, and study in 32 European countries (including 28 EU countries such as the UK, Germany, Italy, and France, as well as Switzerland, Norway, Iceland, and Liechtenstein), and enjoy the same benefits as EU citizens in EU countries;
3. Permanent property rights, with real estate that can be inherited;
4. British education system, allowing children to enjoy high-quality education;
5. Favorable tax system.
With the popularity of the Cyprus EU passport and the increasing number of applicants, the Cyprus government has repeatedly raised the threshold for applications since last year, not only limiting the number of quotas but also increasing the cost of donations. No one can predict whether the policy will be further tightened in the future. Therefore, investors who are interested in immigrating to Cyprus should cherish the opportunity while it lasts.
Currently, Worldway is holding a grand October promotion for its 18-country immigration programs! During the event, there are many discounts and surprises. We welcome new and old customers to actively participate and seize the opportunity! For more details, please call: 400-138-2929.
Investment involves risks; the above information is for reference only.