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A Provocation for a Disaster

30 April 2017

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Cyprus Passport - Title Deed

With our “small” brains it is with a mathematical accuracy that E.U. will put a stop to this any time now (we expect 1-2 years’ time at best).

Having a good system for attracting foreign investors is one thing, but being provocative to others is another thing altogether.

The visas/passports was originally thought off by the year 2007 by the then Government of Tassos Papadopoulos. This measure was there but since the market/economy was booming especially the real estate, no particular effort was undertaken to exploit this. Then Mr Christofias Government took over who seem to be against it during which the Government had around 15 cases studied notwithstanding the hundreds of applications. Then the Anastasiades Government went all for it, keep changing the incentives to become more and more attractive with relation to other countries and each time one competitor came up with a more laxed measure, Cyprus came up with a better one. The situation, as is now, provides the following picture.

Residency Programs

 

INVESTMENT COST

TYPE OF INVESTMENT

TIME TO PERMANENT RESIDENCY

LEADS TO CITIZENSHIP

TIME TO CITIZENSHIP

NEED TO MOVE THERE

Portugal

500.000

Real Estate

6 months

Yes

6 years min

No

Greece

250.000

Real Estate

2 months

Yes

7 years min

Yes

Spain

500.000

Real Estate

6 months

Yes

10 years min

Yes

Bulgaria

512.000

Government Bonds

6-9 months

Yes

2 years min

No

Cyprus

300.000

Real Estate

2 months

No

7 years

No

Malta

1.150.000

Contribution to Government +
Real Estate
+
Bonds

NA

Yes

14-24 months

Yes

Panama

US$350.000

Fixed Bank Deposit

NA

No

N/A

No

 

Fast Citizenship Programs

 

INVESTMENT COST FROM

TYPE OF INVESTMENT

TIME TO CITIZENSHIP

EU VISA FREE

HIGHLIGHTS

Antigua

US$250.000

Donation &
Real Estate

3 months

The only Caribbean program with visa free to Canada

Dominica

US$100.000

Donation &
Real Estate

2-4 months

A cost-effective program well accepted worldwide

Grenada

US$190.000

Donation,

Approved Projects,

Real Estate

60 business days

Grenada passport holders can apply USA E-2 Investor Visa. Only one visa-free to China

ST Kitts

US$250.000

Donation &

Real Estate

3 months

Oldest fast track program

Cyprus

2M

Real Estate

6 months

The only European fast track program. Live, work and study anywhere in Europe

ST Lucia

US$100.000

Donation &
Real Estate

4 months

Most cost effective citizenship by investment program

This is positive since we do not only offer the residency/passports to the investor but also to his family, as well as for his/her spouse and parents to go.

We have also the unique non-requirement that the investors may not live in this country, whereas we might have investors with Cypriot / E.U. passports with the whole family coming in Cyprus!!

Another provocative situation is the shop windows at hotels (see recent one at the Hilton-Nicosia) where a shop window hosted an E.U. passport with a slogan buy/invest in property and get it – see also airport adds and so on.

With our “small” brains it is with a mathematical accuracy that E.U. will put a stop to this any time now (we expect 1-2 years’ time at best).

We have a golden goose and we will manage to kill it before the full beneficial results are evident.

It is not surprising that developers under these circumstances are running out of properties.

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