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Cyprus Citizenship Passport

Cyprus Citizenship Passport  

The Cyprus government has approved a revised citizenship-by-investment scheme, Cyprus Citizenship Passport . Designed to further encourage investments in the island’s economy by non-Cypriot businessmen and investors.

THE COUNCIL of Ministers approved on Tuesday the 13th September 2016, a revised scheme for granting Cyprus Citizenship Passport to non-Cypriot entrepreneurs/investors.
In statements to the press on Wednesday, Minister of Finance Harris noted that the revision of the scheme aims to encourage real investments that would benefit the economy.
The government, he said, wants to attract investors who will chose Cyprus as their basis of residence and economic activity.
Investments should be kept for three years and companies in which investments are made should employ at least five Cypriot citizens.
The most important change, Georgiades said, is that the revised scheme abolishes the provision for collective investment of €12 million, which is being replaced by an individual investment of €2 million and the purchase of a residence worth at least €500,000.
The new scheme, terminates the provisions for the granting of citizenship to those with bank deposits worth €5 million. Also to persons whose deposits have been impaired due to the measures implemented after the 15th March 2013 and those who purchased bonds worth €2.5 Million read more about it here

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Rising trend Cyprus Property Sale

A rising trend Cyprus Property Sale.

New property deals have brought in about €1 bln in foreign funds in the past two years, defying the negative climate in the market, especially after the Eurogroup decision in March 2013 to impose a €10 bln bailout and austerity programme on Cyprus.
Pantelis Leptos, Chairman of the Cyprus Land and Building Developers Association, told the group’s annual meeting that “the property industry remains one of the dynamic sectors of the economy that is attracting new capital, developing new projects and creating jobs.”
He said that based on “conservative estimates” more than €1 bln in foreign funds poured into the Cyprus economy in the past two years, with 3,767 property sales completed in 2013, the year of the economic crunch, with 1,017 of these sales being to foreign buyers, while in 2014 that number rose about 20% to 4,527 property deals, of which 1,193 were to foreigners.
So far, a 10% year-on-year increase in property sales has already been recorded in January. Rising Trend Cyprus Property Sale

You can read more of the report here courtesy of Financial Mirror

Euro Disney Mediterranean Cyprus

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Euro Disney Mediterranean Cyprus

Permission granted for Euro Disney Mediterranean Cyprus in Oroklini theme park

Plans to construct a ‘Euro Disney Mediterranean Cyprus’ theme park near Oroklini, which stalled in 2012, were given the go-ahead by the government in a policy statement issued 4th March 2014

Reports that the Cyprus government has granted permission for the construction of a Disneyland-style theme park near the village of Oroklini in Larnaca district.

According to the report, the permission was contained in a policy document published 4th March, and includes the construction of touristic village and a five star hotel set in 500,000m2 of land.

The project first hit the news in 2009 when the Greek-language newspaper Politis revealed plans to build a Disneyland-style tourist theme park near Pyla on 80 hectares of land (800,000m2).

The venue subsequently shifted to Oroklini, but two years ago plans stalled as discussions continued between the Government, Russian investors and land owners in the area to see how the land would be used. It looks as if the five-year wait may be over and although smaller than originally planned, the theme park should generate much-needed revenue from tourism when completed.

This should also improve the demand for properties in the area with prices increasing accordingly as people would want to live there and tourists demand when they visit would also increase the rentals market.

Is it now time to invest in the area with a Euro Disney Mediterranean Cyprus, we think so as many prices for properties have reached rock bottom with many bargains to be had.

Pyla, Larnaca, Ayia Napa
 

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