Buying property in Cyprus
The transaction of buying the residential property was effected in April 2016, the developer allowed a substantial discount of 22% to the client, however, in June 2016 other passport applicants having seeing the property, offered the client and developer a value of 32% more than the purchase amount. Although the client had a real chance in just 2 months to earn about 1 million Euros, without the passport issue being affected, since our research and located other checked properties, the reality of this transaction is that 1) the client was going to live in this villa in Cyprus and; 2) in Limassol for the villa of this kind, with a “smart house” system, an elevator, with a huge land plot, the value is now approximately 5.5 thousand Euros per 1 sq. m. of covered area, but not 3 thousand Euro per 1 sq. m., as the customer paid. In other words, the client was convinced that the transaction was very profitable;
The Cyprus property market grows on the basis of 2 unique programs: citizenship for investments and permanent residence for investments.
To those who should have the money in work, and not in real estate, Cyprus issues passports when other legislative options, for example, in case of investments in Cypriot company or other Cypriot business of your own. In that case, your money works for you.
Please also note that the term for obtaining citizenship is 3 months.
The advantage of the Maltese passport program is that the Maltese passport allows visa-free entry to most countries.
On the other hand there are some disadvantages, of course, to mention a non-refundable large investment in the state fund of Malta amounted to 650 thousand Euros, and the term for obtaining composes12-16 months, more expensive government fees and legal fees compared with Cyprus.
The choice of citizenship for investment in Malta or Cyprus solves a set of challenges, including those when you want to save substantial funds amount n the education of children in the UK and other European countries at a rate for Europeans, as well as give the option of job freedom in Europe without additional permits, provide your parents and yourself with access to free or low-paid medical care, significantly reduce taxes in your business and legalize your income in low-tax jurisdictions.
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