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The minimum investment was 2 million euros and citizenship was extended to the family of the investor as well. [3] In 2013, the required minimum investment for citizenship was lowered from 25 million in 2007 to 2,5 million. [4] Applicants did not need to physically stay in Cyprus or pass a langugage test to acquire citizenship. [4]
Turkey offers Turkish Citizenship by Investment (TCBI). Investors are required to purchase real estate worth at least US$400,000 and hold it for 3 years, or deposit US$500,000 in a bank, etc. in Turkey for a period of 3 years. Upon investing as above and submitting citizenship application duly, a Turkish passport is granted, typically within a ...
The Cyprus Papers was a leak of government documents related to the Cyprus Investment Program (CIP) obtained by Al Jazeera and released in August 2020. [1] The CIP allows non-citizens to apply and obtain a Cypriot passport by investing at least 2 million Euros in Cyprus. The passports obtained through the CIP are nicknamed "Golden Passports".
There are a few investment opportunities, but if you're doing so through a real estate purchase, the minimum cost requirement varies by region: Buying a property in the north or northeast of the ...
In 2013, a citizenship by investment pathway was created to attract foreign investment into the country. [38] Through the Cyprus Investment Programme, a foreigner could acquire Cypriot citizenship after investing €2 million in real estate, infrastructure projects, local businesses, or domestic financial assets and maintaining that sum within ...
The following is a list of Cypriot billionaires, based on an annual assessment of wealth and assets published by Forbes every April. [2] The vast majority of Cypriot billionaires are not native Cypriots, but are foreign billionaires who acquired Cypriot citizenship (either through the now-defunct Cyprus Investment Program or otherwise) to take advantage of the country's tax laws.
This time, the victim was Cyprus: a tiny Mediterranean island. Getty Images Just when we all thought it was safe to stop worrying about the eurozone, another country's banking system blew up and ...
The 2012–2013 Cypriot financial crisis was an economic crisis in the Republic of Cyprus that involved the exposure of Cypriot banks to overleveraged local property companies, the Greek government-debt crisis, the downgrading of the Cypriot government's bond credit rating to junk status by international credit rating agencies, the consequential inability to refund its state expenses from the ...