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President Nicos Anastasiades said his government’s citizenship by investment programme has helped the construction sector and has contributed to the recovery of the economy.

Property price increase seems to be due to increased demand, particularly in coastal areas, mainly due to the transactions made in the framework of the investment programme for obtaining of a Cyprus passport

Cyprus is experiencing an influx of investments, despite the country introducing stricter requirements for its so-called golden passport program, under which rich investors can acquire citizenship in exchange for investments, Cypriot Finance Minister Harris Georgiades told Sputnik on Thursday

The citizenship-by-investment scheme’s contribution to economic growth in the past three years was just 1.2 per cent of 13 percentage points, Finance Minister Harris Georgiades said Wednesday.

Taxation is one of the many advantages of living in Cyprus. There is a high income tax threshold, special rates for foreign pensions and interest can be tax free for 17 years. There is no capital gains tax on shares and no local inheritance tax.

A citizenship is no longer a right bestowed upon us purely based on the nationality of our parents. It is now a valuable commodity which can be obtained through investment into carefully selected programmes from around the world.

President of Cyprus Nicos Anastasiades expressed his full commitment to facilitating business and investment collaborations between his country and the U.S. at the Capital Link Invest in Cyprus Forum that took place in New York on Friday.

Global residency and citizenship, are an increasingly important aspect of the private and professional life of this new trend of global citizens.

“We note that a number of British nationals (including those of Cypriot origin) are applying for a Cypriot passport in order to bypass the restrictions that the British might have regarding (in our opinion) the acquisition of real estate, the Cyprus capital gains tax situation, the inheritance tax and other income taxes”.

Paphos is in the lead as the most popular district for overseas buyers from Europe and Non-Europeans by 39% in comparison to Limassol which follows with 30%.   Larnaca is 3rd with 15,5% and lastly Famagusta with 10% and Nicosia with just 5.5%.

Minister of Foreign Affairs, Nicos Christodoulides, departs for Barcelona to take part at the 3rd Regional Forum of the Union for the Mediterranean (UfM) on Monday.

The energy minister announced on Monday Cyprus will be seeking bidders for a €300m project to facilitate natural gas imports and will also invite energy companies to express interest in another offshore field inside the island’s exclusive economic zone.

The 1st Cyprus Film Summit will be held at the Filoxenia Conference Centre in Nicosia on October 10th, bringing together 120 participants from all over the world.

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