In recent years, Cyprus has emerged as a new destination for wealth migration, attracting millionaires to its shores. Watch our short video below.
Beautiful clean beaches, stunning coastline, warm weather with 300 days of sunshine, EU membership states, powerful highly respected EU passport offering visa free access to 174 countries, the citizenship by investment program, low corporate taxes have been the major pull factors attracting millionaires to the shores of Cyprus.
The Citizenship by investment scheme so far has collected some €7 billion euros into Cyprus, most of invested in real estate sector. The scheme is limited to 700 applications every year. All applicants are required to go through background checks before being approved of cypriot citizenship.
It is possible to invest €2m in real estate and become a EU citizen in six months through the investment scheme in Cyprus. The citizenship rights also extended to family and children.
A second passport cannot be ignored by wealth advisors in wealth management. It is a new asset class of the 21st century becoming a new trend for rich and wealthy due to globalisation.
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