CYPRUS

By Leo Zhang. The Republic of Cyprus is an island country in the Eastern Mediterranean Sea, east of Greece, south of Turkey, west of Syria and Lebanon, northwest of Israel and north of Egypt. Cyprus is the third largest island in the Mediterranean Sea. It is also the third most populous island in the region and one of the area's most popular tourist destinations. Cyprus' strategic location at the crossroads of Europe, Asia and Africa has helped shape its history throughout the centuries, making it not only a major eastern Mediterranean trading hub, but a reputable international business and financial...

EXPERT INSIGHTS 2020

Changes to the Cyprus Investment Programme officially published in the Government Gazette on August 17-18.   The Cyprus Investment Programme, based on the subjection (2) in section 111A of the Civil Registry Laws of 2002 - 2019, was approved by the Cyprus Council of Ministers on the 13th of September, 2016 and subsequently amended in May 2018, February May, and August of 2019 and August 2020. The latest amendments to the CIP are effective from 18 August and reflected in this memo for your ease of reference.   The amendments include the following changes:   The amount of the donation...

IMMIGRATION BY INVESTMENT NEWS 2020

According to a batch of leaked documents obtained by Al Jazeera known as the Cyprus Papers, Yang is among more than 500 high-net-worth Chinese citizens who have acquired "golden passports" by each investing at least 2 million Euros (US$2.3 million). Since the tiny island country is a member of the EU, obtaining a Cypriot passport has become a backdoor to quickly enable wealthy individuals to gain EU citizenship.   The news agency has not provided the names of all the Chinese nationals on the list, but it did release eight key figures. Yang was at the top of the list, as...

IMMIGRATION BY INVESTMENT NEWS 2020

Ever-changing global markets provide a diverse range of investment opportunities, which makes it more challenging to keep up with or even to tap into alternative options. We at BAO look at markets from a different perspective with an aim to help broaden your investment horizon. According to the China Global Investment Tracker, the value of China’s overseas investment and construction industries combined since 2005 amounted to over $2 trillion. The rapid development of China’s foreign investment is an inevitable result of the robust economic development, international financial management and focussed strategies of China’s wealthy family groups. China is opening up...

IMMIGRATION BY INVESTMENT SPONSORED CONTENT 2020

COMPANY INTRODUCTION Founded in 1977, Pafilia is the largest privately-owned residential developer in Cyprus, dedicated to developing world-class properties for personal living and investment. With over 40 years’ experience, Pafilia is Cyprus’ leading luxury property developer with award-winning projects and a comprehensive property portfolio including Minthis, the island’s most exclusive golf resort, ONE, Europe’s tallest seafront residential tower, and Neo, which is set to be a new landmark in the country.  With our uncompromising effort in delivering the best in concept, design, quality and service, we continue to transform and set the benchmark for the Cyprus real estate sector. We...

IMMIGRATION BY INVESTMENT SPONSORED CONTENT 2020

As with most of the world, I am working from my home office and trying to make sense of the global pandemic that has overtaken the world-changing the way we live and making us re-examine our priorities. It has only been a short while since governments introduced drastic measures to counter the effects of the coronavirus and only time will tell if these actions have been successful.The impact of the coronavirus had led to governments shutting down borders, imposing quarantines, and limiting mobility. The knock-on effect, such as airlines reducing their number of flights, supermarkets running out of key supplies,...

IMMIGRATION BY INVESTMENT EXPERT INSIGHTS 2020

Country:                                            Cyprus Region:                                               Europe Currency:                                          Euro (EUR) (€) Languages:                            Greek, English Time Zone:                             UTC +2  Phone Code:                          +357 Communications:                  Good Cyprus is an independent democratic republic, and a member of the Commonwealth. It is prosperous: GDP US$21,00 (2010) per head. The economy is dominated by services, with tourism particularly important. Unemployment is low. The Cyprus Government worked hard to create a favorable offshore tax regime while at the same time maintaining a normal-looking domestic economy, albeit with rates of taxation that are low by international standards. The success of this programme is attested...

2020

Country:                                             Cyprus Region:                                               Europe Currency:                                           Euro (EUR) (€) Languages:                             Greek, English Time Zone:                             UTC +2 Phone Code:                           +357 Communications:                   Good Cyprus is an independent democratic republic, and a member of the Commonwealth. It is prosperous: GDP US$23,500 (2017) per head. The economy is dominated by services, with tourism particularly important. Unemployment is low. The Cyprus Government worked hard to create a favorable offshore tax regime while at the same time maintaining a normal-looking domestic economy, albeit with rates of taxation that are low by international standards. The success of this programme is attested...

2020

Executive Summary: Cyprus is an independent democratic republic, and a member of the Commonwealth. It is prosperous: GDP US$21,00 (2010) per head. The economy is dominated by services, with tourism particularly important. Unemployment is low. The Cyprus Government worked hard to create a favorable offshore tax regime while at the same time maintaining a normal-looking domestic economy, albeit with rates of taxation that are low by international standards. The success of this programme is attested by the tens of thousands of offshore companies registered in Cyprus since 1975. However, the island's entry to the EU in 2004 meant a restructuring...

2020