Search for a law firm
July, 26 2017
July, 17 2017
Invest at the right time and place
All interested in investing in Cyprus know about the numerous tax and corporate advantages that Cyprus jurisdiction provides. In this article we will highlight a few major opportunities that benefits investors considering that they take advantage of the right time and place.
After the Cyprus bail in, the government has implemented a very attractive citizenship package which minimized the direct investment to the island from 3 to 2 million. The immovable property tax has been abolished, the transfer fees have been reduced and the bureaucracy has been facilitated in order for the investor to receive the Cyprus passport within 6 months. Noteworthy is also the fact that the parents, spouse and children of the applicant are also immediately eligible to apply and receive the passport. These are only a few initiatives provided to international investors which have resulted to an increased number of people choosing Cyprus the past 3-4 years as a jurisdiction to invest and consequently uses Cyprus as a gateway to other European countries.
On the other hand, this fact has resulted in receiving a banking bell from the European authority centers as a large number of Cyprus passport holders from various nationalities are traveling to Europe which is taken with a minor suspiciousness due to the increased terrorism in Europe.
The gas and oil sector in Cyprus is in its beginner stage which provides a huge lead for keyrole players in the globalized economy where success is a matter of taking advantage of the right moment.
Noteworthy but likewise important is the new regulations of the House of Representatives that has permitted the establishing and operation of casinos in Cyprus.
The political problem of Cyprus is at current stage in central heyday where negotiations are going on at full speed and the possibility of a solution will definitely tranform Cyprus from its existing form.
According to above, there are several factors that can differentiate the conditions for investments. Obviously there is nothing solid in regards to economy and politics and the future may support investments more or less, we don’t know. However the existing conditions provides significant opportunities that favors investments in particular. As it looks like the Citizenship program as we know it today might slightly differentiate due to external factors and the prospect of investing in the oil and casino sector are favorable as both sectors are at its early stage.
By: Helena Naaman