Last time we talked about marketing the U.S. commercial real estate to foreign investors effectively by explaining all the benefits of the government program of obtaining the U.S. permanent residency and then citizenship for foreigners through investing.
Now let’s talk about the European Union citizenship by investing in one of the EU countries. The EU citizenship is an automatic addition to any national citizenship of the EU members. Many real estate and immigration professionals consider Cyprus to be the best country for the foreign investors in this regard.
The major benefits of becoming a citizen of the EU are basically the same as for the U.S.:
– Living in a prosperous and secure country with the first-class education and health services
– Traveling the world without visas
And there is even more:
– Freedom to choose any of the EU countries to live, work and study as the EU allows just that for all its members (by the way, in some EU countries university education is free for all EU citizens, in others it’s really cheap – especially in comparison with the American universities that are expensive even for the locals)
– Low taxes (for example, no inheritance, gift and wealth tax – compare to the U.S. that impose taxes on all that)
The Cyprus government offers two programs to attract direct foreign investment funds to the country’s economy: “Cyprus Permanent Residence” and “Cyprus Citizenship by investment”. Both are very successful among the foreigners.
A foreigner should have no criminal records and invest at least 2 million euros in the Cypriot real estate (commercial and residential) or infrastructure projects to apply for permanent residency and citizenship for the family immediately after – the procedures are fast and easy (takes about 3 months – again, compare to the U.S. much more complicated and longer processes).
The foreign investors can combine investing in several different projects and properties (including their own residential) to the total amount of 2 million euros. (In the U.S. investing in a family residential property doesn’t count).
The Russian buyers of commercial and residential real estate are extremely interested in Cyprus because of the programs, and thus are the largest group of all foreign investors in Cyprus. Of course, Cyprus has other benefits to the Russian buyers in terms of geographical and cultural closeness.
Now you see that while marketing your commercial and residential properties to the Russian buyers it’s a must to explain the benefits of obtaining residency and citizenship in Cyprus (EU) by investment. It’s also important to other groups of the foreign buyers.
Happy blog reading,
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