Cyprus Citizenship-By-Investment Programme

Transcription

1 Cyprus Citizenship-By-Investment Programme CYPRUS / YIANNOS TRISOKKAS July 2015

2 Cyprus Overview

3 Main Concerns? How fast can my citizenship get approved? Is residency required prior to my citizenship approval? How complicated is the documentation required to submit? Is this a difficult/painful process? What are the routes available for the CBI? What are my chances of getting approved? 3

4 Cyprus at a Glance Capital: Nicosia Geographical size: km² Population: (2012) Population as % of total EU population: 0.2 % (2012) GDP: billion (2012) Official EU language(s): Greek Political system: presidential republic EU member country since: 1 May 2004 Currency: Eurozone member since 1 January

5 Cyprus at a Glance Cyprus is a small island in the Mediterranean Sea The island is located in the Eastern Mediterranean A former British colony, Cyprus became independent in 1960 Cyprus has a dynamic and flexible economy and has established itself as a business and service Centre for shipping, banking, and commerce. Cyprus is a full EU Member State enjoying all the benefits that EU membership offers. It offers access to the European market Despite the economic difficulties created by last year s Eurogroup decision Cyprus is still here. Key sectors of the economy, including tourism, shipping and business services have proved much more resilient than originally expected. The discovery of natural gas reserves and exploitation activities in Cyprus Exclusive Economic Zone create immense prospects for investments. 5

6 A Convenient European Destination The island is strategically located in the north-eastern basin of the Mediterranean Sea, at the crossroads of Europe, Asia and Africa, allowing easy travelling and the ability to conduct international business. 6

7 Travel visa-free as an EU Citizen Total Countries: 158 Cyprus - Visa-Free - Visa-on-Arrival - Visa Required - Pre-travel internet registration required -

8 International Flexibility Easy to travel Access Europe, Asia, Middle East, Africa Double tax treaties with 50 countries Attractive taxation system Legal system based on UK common law Aligned with the EU Laws & Regulations Free zones Robust telecommunications system International Airports & Ports

9 Protect your Family National Health System Family life Community life Material well being Political stability Climate & geography Security Political freedom Gender equality No compulsory military service Quality of Life index: Total: 111 Countries Cyprus Ranks 17 th

10 Best of Education Public Universities Private Universities State Higher Education Institutions Private Institutions of Higher Education Foreign University Campuses University of East London University of Central Lancashire University of the West of England University of Wales

11 Safety, Peace of Mind In the top 10 Countries with the Lowest Recorded Crime Rate One of the most peaceful places in Europe Unlocked doors are normal The low crime rate attracts many European citizens

12 Cyprus Rankings The Cyprus passport ranks 14 th best in the world Travel and Tourism Competitiveness Index, Cyprus' tourism industry ranks 29th in the world in terms of overall competitiveness. Tourism Infrastructure, the tourism industry of Cyprus ranks 1st in the world The World Bank and the Doing Business Index Cyprus Ranks 64 th Cyprus ranks 17 th in the quality of life index Cyprus is rated by Forbes as the 33 rd best country to invest. According to Forbes Cyprus ranks 1 st in Personal Freedom According to Forbes Cyprus ranks 5 th in Monetary freedom. Cyprus ranks 22 nd in Governance. 12

13 Cyprus Citizenship-by-Investment 2.5 Million Real Estate Investment Option 2.5 Million Local business activities Option* 2.5 Million Government Bond Option* 5.0 Million Bank Deposit Option* *Additional investment of 0.5m Euro into a Residence is required.

14 Real Estate Option

15 Cyprus Real Estate Market Great potential on Tourism Oil & gas industry to drive capital growth Higher demand than supply Limited prime locations Seafront real estate scarce H&P team with local knowledge Legal & financial due diligence Approved acquisition process

16 Prime Master Planned Communities

17 Minthis Hills Resort

18 Ayia Napa Beach Front 53 Blue Flag beaches - three records: 1. The most Blue Flags per capita 2. The most dense concentration of Blue Flag Beaches 3. The most Blue Flag beaches & per coastline length

19 Vivo Mare Villas in Ayia Napa

20 Vivo Mare Villas in Ayia Napa Villa landscaping 5 bedroom villa Living area 500 m² Price 2.5 million (plus VAT)

21 The Emerald Perfectly situated in the heart of Limassol, around some of the best shopping Modern architecture with luxury finishes Short walk to Limassol s coastal promenade and beaches Views to the Mediterranean Sea and Troodos mountains All amenities are easily accessible without the use of a car The new yacht Marina is within walking distance

22 Related Real Estate Costs Property Transaction EUR Escrow Fees and Real Estate Contract Fees EUR Value added Tax on transaction 5%* Stamp Duty on House purchase EUR Transfer Fees on Transaction 8%** *Provided that the property is subjected to VAT and provided that the covered area is less than 275 square meter ** In the event that the Property is not subject to VAT and the deeds are ready. 22

23 Company Investments

24 Purchase/creation/participation in Cypriot businesses or companies The applicant must have made an investment of at least 2.5million in the purchase, creation or participation in businesses or companies, that are based and operating in the Republic. These businesses or companies should evidently have a tangible presence in Cyprus and employ at least 5 Cypriot citizens. 24

25 Latest Investment Incentives Introduction of the non domicile term which will allow non-domiciled residents to benefit from a beneficial tax status in Cyprus. They will be exempt for the Special Defense Contribution tax which is 30% on interest income and 17% on dividend income on which Cyprus tax residents are now subject to. Reduction of transfer fees for all real estate sales by 50% until 31/12/2016. Abolition of municipal and community taxes on all properties and the introduction of a single property tax on the basis of a single low tax rate. Abolition of capital gains taxation (previously 20%) for properties acquired until 31/12/

26 Summary of the citizenship program 1. Clean Criminal Record The applicants must have clean criminal records 2. Residence in the Republic of Cyprus The applicant must hold a permanent privately-owned residence in Cyprus The purchase price of which must be at least 500,000 (plus VAT) 3. Qualifying Investment Options 2.5 million - real-estate investment 5 million - deposit in Cyprus bank* 2.5 Million - Local business activities Option* 2.5 Million Government Bonds Option* *Additional investment of 0.5m Euro into a Residence is required. 4. Main Characteristics Investing, not donating your wealth Approved with in 90 days after application No Residency requirement Flexible Basic Documentation Easy Process Very high approval rate.

27 Contact Information Name: Yiannos Trisokkas Position: Managing Partner Henley & Partners Cyprus Ltd. Address: Spirou Kiprianou Ave. Address: No. 9, Office 301 Address: 3070, Limassol Country: Cyprus T M E yiannos.trisokkas@henleyglobal.com