Since the introduction of the investment program in Cyprus in 2013, allowing to "buy" the country's passport when buying real estate or contributing funds to the economy of the country, only 2000 passports were issued to foreigners - and about half of them were received by Russians, Bloomberg reports referring to the interview With the Minister of Finance of Cyprus Harris Georgiades.
The "wave" of foreign applicants increased noticeably last year, when the investment threshold was reduced to ˆ 2 million when buying real estate and up to ˆ 2.5 million with a contribution to government bonds or companies. Only last year the program brought the state a sum of ˆ 4 billion, which is almost a quarter of the growth of the entire economy of the country. Recall that the passport of Cyprus provides its owners with a visa-free entry into 147 countries - in comparison with 105 states, which can be visa-free to visit the Russians.
Bloomberg notes the fact that the "sale" of citizenship causes fears of "anti-corruption" lawyers. The status of the tax haven causes a significant inflow of funds that wealthy Russians and representatives of other states are "afraid to lose" in their home countries.
HomesOverseas.ru
