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
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.