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Jack Show

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Published on: 21 Apr 2017 by jack98

Acquiring citizenship of Cyprus by investing

The
Government of Cyprus seeks to attract foreign investment to the state. To this
end it has developed several ways to encourage investors for example the
provision of housing and citizenship of Cyprus by investment.

The
state program called Cyprus Citizenship by Investment implies the granting of
citizenship to those persons who invest at least 2.5 million euros in qualified
investments. This person also acquires the right to officially work or study in one of the 28 states of the European
Union. More info via this link https://prospectacy.com/prospectacy-individual-services/acquisition-of-cyprus-citizenship-by-investm...

But
for obtaining the official status of a citizen through investment there are
several important conditions. Among them are the following:

•       
presence of a legitimate passport;

•       
source and official documentation of invested funds;

•       
lack of criminal record and documentary evidence of this
fact;

•       
absence of frozen property in the territory of one of the
EU countries;

•       
company formation fees in Cyprus.

Invested
funds must also meet certain requirements for the citizenship granting:

•       
investing in government bonds of at least 5 million euros
maintaining the resulting bond for at least 3 years;

•       
organization or Cyprus company formation;

•       
creation, acquisition or participation in at least one
enterprise in Cyprus;

•       
conducting projects in the field of infrastructure real
estate or land development;

•       
presence of mixed investments;

•       
deposit of funds in a bank in the territory of Cyprus;

•       
other conditions.

Tax planning in Cyprus

We can say with certainty that in this case the country
provides the best conditions for tax planning for company formation in Cyprus.
The state offers the most favorable conditions and fancies businessmen around
the world to establish companies in Cyprus. Due to this Cyprus has become a global
business center.

Previously there were local or offshore companies registered
in Cyprus. Two types of enterprises had different benefits and working
conditions. But at the moment there is absolutely no difference in the
formation of local or foreign companies. Both of them enjoy a business tax of
12.5%. This is the most profitable course for investors in the whole of Europe.
Types of companies formed in Cyprus

An investor can register in Cyprus several varieties of
the company:

•       
private company limited by shares;

•       
branch of overseas companies;

•       
company limited by guarantee

•       
public company;

•       
private company that is exempt.

 

To obtain citizenship by investment in Cyprus legally it
is important to follow certain requirements:

 

• reservation of the name of the enterprise and receipt
of confirmation from the Registrar of companies;

• preparation of the Memorandum and Article of
Association by a Lawyer;

• preparation and delivery of documents at the Companies
Section of the Department of the Registrar of Companies and Official Receiver;

• registration of the tax activity of the organization at
the Tax Department;

• company registration at the Tax Department for VAT;

• register for Social Contribution at the Ministry of
Labor, Welfare and Social Insurance.

If all these rules are observed, the person will have his
own organization in Cyprus. The owner of the company is given all the
advantages of a local organization. This information was taken from https://www.nytimes.com/2014/02/01/world/europe/give-malta-your-tired-and-huddled-and-rich.html article.

 

 

 

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