On March 30, 2020, the Government of Cyprus announced a proposal to expedite the processing of citizenship applications, with the expectation of obtaining EU citizenship within six months and initiating a zero-entry application process to promote the economic development of Cyprus. This measure is one of 27 emergency measures taken in response to the economic impact of the coronavirus.
In addition, in response to the pandemic, Cyprus has quickly reacted and actively addressed the situation by announcing a series of epidemic prevention measures and economic subsidies. For instance, a subsidy of €750 is provided for students studying abroad who are unable to return to Cyprus; €700 million is injected into businesses to enhance liquidity and alleviate operational pressures; €100 million is allocated to public health to support epidemic prevention efforts; €11 million is announced to support the recovery of the tourism industry; €3 million is allocated for education support; €15 million is designated for subsidies for international students; and €98 million is allocated for the second phase of the General Healthcare System (GESY), among others.
Meanwhile, the House of Representatives of Cyprus has introduced a series of economic policies to safeguard citizens' livelihoods and promote business development. Among these, the government provides €2 billion in low-interest loans to banks; tax exemptions are granted to industries such as supermarkets, bakeries, gas stations, pharmacies, the Electricity Authority of Cyprus (EAC), and the Cyprus Telecommunications Authority (CyTA).
It can be seen that during the pandemic, the series of support plans introduced by the Government of Cyprus reflect a strong emphasis on and concern for the well-being of the people. Data indicates that 1.2% of Cyprus's GDP is related to its investment citizenship program, through which the government has injected approximately €6.6 billion into the economy since 2013, with a maximum investment amount of €2.5 million.
Currently, investors can apply for a Cyprus passport for their entire family across three generations by purchasing property starting from €2 million (whether one or multiple properties) and donating €150,000. In the year of health planning 2020, with health planning and identity taking precedence, choosing the Cyprus EU passport program provides identity, facilitates travel, secures property, and offers favorable tax arrangements for global allocation, achieving multiple benefits. What are you waiting for?
The Asia Brand 500 Group, WorldWay, has maintained good interaction with the Government of Cyprus for many years. In 2011, it was one of the first to introduce the Cyprus Permanent Residency and Citizenship by Investment Program to China, initiating an exciting journey of European investment immigration; in 2014, the "Paphos Night" events in Beijing and Shanghai were investment and cultural exchange activities themed around European cities. For more details, please consult the WorldWay hotline: Mainland China: 400-138-2929 Hong Kong: (852) 2802 8798.
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