CYPRUS is wooing Thai investors by offering a lifetime European Union citizenship for Bt100 million. “The country is targeting more capital from Thailand, attracting investors with easy migrant permission to become an EU citizen through investment.
The country expects to raise capital from Thai investors in prospective sectors including property, energy, oil and gas, infrastructure and tourism,” Cypriot High Commissioner Demetrios Theophylactou said yesterday according to a report in ‘The Nation‘
A series of incentives have been introduced by the Cypriot government to attract overseas investors.
Competitive deals over its EU counterparts include lower capital-gains tax and lower minimum capital, making it easy to migrate to Europe. Permanent residencies are going for 300,000 euros (Bt11.6 million) and citizenships for a minimum of 2.5 million euros.
It was a good time to boost investment opportunities and offer incentive programmes to Thai investors as Cyprus’ economy has diversified and prospered, he said.
The country has a modern, free-market, service-based economy.
Its competitive advantages include a strategic location in the EU and euro zone, a robust legal and regulatory framework, ease of doing business, incentives, and good infrastructure and quality of life.
Theophylactou, who is Cyprus’ high commissioner to India but is also accredited to Thailand, met with Prime Minister Prayut Chan-o-cha to encourage trade and other cooperation.
Emerging from the 2013 financial crisis, Cyprus, according to the International Monetary Fund, has per capita income above the EU average and has been sought as a base for several offshore businesses because of its low tax rates.
The Cyprus Town Planning Department recently announced a series of incentives to stimulate the property market and increase the number of property developments in the country’s town centres.
WHAT ABOUT OUR (LEGAL TITLE DEEDS) STILL WAITING IT’S A JOKE.
Ed: If you haven’t done so already I strongly recommend that you apply for your Title Deeds.
Has anyone asked these questions of the governments as it seems the EU security is being comprised over extra cash for EU countries? Very worrying!
I went to apply for citizenship so I have joint UK and Cyprus EU passports. I meet all the requirements as stated for existing long term residents, the fee was €500 on application and another €500 on receipt of Citizenship, the I was informed it will take at least (7) years to process, make of that what you will total discrimination.
What the?….again, will there be any one other nation this government will call on next……why not go to ISIS direct, they’ve got a few million to invest!!!!💣ðŸâ€Â«Ã¢ËœÂ
We’ve had “cash for questions” in UK parliament
This is “cash for residency” in Cyprus (and yes – many countries have practised this). It’s what you do when you are too bone idle and useless to create anything of any real value.
Years ago the ‘Sunday Sport’ was selling plots on the moon too.
These days – instead of learning Greek – I’d be more tempted to understand the symbolism of corn circles. I have the feeling extra-terrestrials are considerably more intelligent sources of conversation.
@steve r
The real question is why would anyone want to “buy their way in” into this socialist basket case of the EU? It is like paying millions to become a citizen of the Soviet Union.
@Steve R.
No, you’re not being paranoid, Steve. The sooner we press the ‘Article 50’ button the better, if not just for the reasons you mention. I will point this out to the three BREXIT musketeers.
Steve,this has been going on for some while, and Cy isn’t the only country wooing foreign investors this way. In yesterday’s news…..
Malta making MILLIONS selling passports to ANYONE with the cash sparking UK security fears
How many other EU countries?
Is this article for real. You can now buy your way into Europe. For €300K Cyprus will allow you permanent residency and for a princely sum of €2.5 million you would by-pass all the rules and become a Cyprus citizen giving you free access to the whole of Europe.
Does this deal only apply to Thailand or could anybody with that sort of free money be able to take advantage. Terrorist groups will be rubbing their hands. With millions of pounds at their disposal this would offer an easy way to infiltrate their people all over Europe.
Am I just being paranoid.
Ed: There are a number of counties offering EU citizenship by investment – Spain, Portugal, Malta, Greece as well as Cyprus.