Cyprus offers Thai investors EU citizenship
September 12, 2016 - Cyprus
Cyprus is wooing Thais by offering a lifetime European Union citizenship for Bt100 million, according to The Nation.
“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 last month.
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.
Investment options include the purchase of state bonds, a Cypriot company and real estate such as houses, offices, shops and hotels, or an investment in financial assets or a deposit in a Cypriot bank.
Emerging from the 2013 financial crisis, Cyprus
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 Cypriot government allows a tax exemption on investment returns, such as dividend income, profits from overseas permanent establishments and gains from the sale of securities.
There is no withholding tax on dividends, interest or royalties paid from Cyprus. Tax incentives are offered to start-ups and investors in innovation. A national interest deduction is also available for new investment.
Cyprus has been a member of the EU since 2004 and the euro zone since 2008. It has applied to join the Schengen Visa Zone, which will soon make it even easier for citizenship-holders to travel between and to Schengen Area member states.
, foreign ownership of property
, foreign investors
, Golden Visa