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Top 5 Reasons to Invest in Cyprus Today – #2 Growing Economy
May 3, 2017 - Cyprus
In part two of this series we look at positive economic indicators that make Cyprus a desirable investment choice.
A GDP growth rate of 2.9% in the last quarter of 2016 is just one of the reasons for the Cypriot economy to have a very positive outlook.
Cyprus will begin to extract significant gas reserves found in its Exclusive Economic Zone by 2020. This development is expected to offer a strong boost to the Mediterranean island’s economy from large global energy consortiums and associated businesses who are expected to establish onshore offices to manage their offshore operations.
Initial gas reserves have been confirmed by RBS as worth 300% of GDP and estimated at up to 3000% of GDP at the upper end of forecasts. Exploratory drilling is set to take place in block 11 of Cyprus’ Exclusive Economic Zone (EEZ) in the first two weeks of July 2017.
Additionally, Cyprus continues to hold its place as a major player in global shipping – a position that is expected to be considerably enhanced since DP World began operating the Limassol Port in 2016.
Efficient Program for EU Citizenship Through Investment
Cyprus continues to attract HNWIs from across the world who are interested in investing in the island and benefiting from the ease and efficiency of its Citizenship by Investment Program. The 6-month application process makes investing in real estate a highly desirable route for obtaining full EU citizenship, with an investor, spouse and children being able to obtain citizenship for €2 million ex VAT (including €500,000 worth of residential property). Investors can also add their parents, who also need to hold €500,000 worth of residential property that can be purchased as a separate or combined real estate asset. The asset can be sold after 3 years, enabling a recoupment of the investment.
Want to know more about becoming a Cyprus citizen through investment? PassPro Immigration Services and our associates are happy to guide you through the Cypriot investment landscape, offering on-ground consultancy on the best options to suit your needs. To arrange a tour of suitable properties in Cyprus call us on +971 4 554 1449 or email email@example.com