The European Union is the second-biggest economy in the world after the United States. The country has a GDP of more than $17 trillion and more than 500 million people. The region is know for its people, who are increasingly wealthy. While the region has a lot of regulations, it is a good place for companies to set their base. If you are an international citizen and want to live and do business in the region, we recommend that you use the concept of Cyprus passport by investment.
What is Cyprus Passport by Investment?
This is a service offered by the Cyprus government. The passport allows any person who has the resources to get a Cypriot passport. With this passport, the people are able do business and live in any European country. The government decided to use this strategy to help it increase the resources that it uses to fund projects. This is partly because Cyprus is not know for its vast natural resources.
Over the years, thousands of people have rushed to acquire the passport. Most of the people applying for the Cyprus passport by investment are from Russia and other Asian countries. In total, the Cypriot government has received billions of dollars in investments from these countries.
How to Get the Cyprus passport by investment
To get the Cyprus passport by investment, you just need to meet the requirements. First, you need to be from a country that is required. For example, people from countries like North Korea are not eligible for the passport. Second, you need to have at least $2 million. You will use these funds to invest in Cyprus. Third, you must have no criminal record. For this reason, the law firm that you use should investigate your source of wealth. Fourth, you need to ensure that you have been living in the country for some time.
There are several benefits for getting the Cyprus passport by investment. For example, you can do business in Cyprus and in the EU. Your family members too can access this lucrative market. They can also attend schools from the region.