MONDAY, 11 DEC 2017

 

CONNECT

Facebook Linked In Twitter
MTN_07/07-10/04_728x90px
GloriaJeans_266x90px
IMH LTD

Syllouris: We Deplore the Violations of Human Rights

Anastasiades and Tsipras to Discuss Erdogan’s Visit to Greece

IMH LTD
MTN_07/07-10/04_468x60px

Citizenship for Sale

 

PREVIOUS

NEXT

 
 
 
Citizenship for Sale

Citizenship for Sale

European Golden Visas have been crafted to encourage further investment into the struggling economies of several EU countries, offering a door through which non-EU high net worth individuals can walk through with relative ease, to gain European citizenship and permanent residency.


Particularly essential in countries such as Spain and Cyprus which are coping with austerity and looking at an economically challenging 2014, the visa schemes have already attracted much attention, with Cyprus Interior Minister Socratis Hasikos recently stating that most of the €500 million foreign investment on the island in the past eight months came from investors meeting the targets for the programme.


With the competition fierce to create the most coveted Golden Visa scheme, many European countries are evaluating and reevaluating their requirements in the hopes of attaining higher foreign investors to their shores.


The latest to join the race will be Malta, with the implementation of new legislation at the end of this month to grant an immediate European passport to investors for the sum of just €650,000, to be donated to their National Development Fund. 
Though the authorities will evaluate applications from foreign investors in detail, applicants are not required to visit the country itself; a major advantage for many interested investors, and a major disadvantage for competing jurisdictions, as minimum stay requirements are often off-putting for prospective investors whose homes and business headquarters are far away.


The popular ‘Golden Visa’ incentives are cause for concern for many Europeans, who believe that easy access to citizenship will allow a doorway for foreign business-people and criminals alike. The anxiety is heightened by the knowledge that the European Commission is unable to prevent these residence permits.


Despite this, it is still seen as imperative that investors from Russia, China and Arab countries take advantage of the visa opportunities and bring their businesses, and their money, to the currently weak economies of the European countries on offer.


Here are just five of these Golden Visa schemes.

 

FROM AROUND GOLDNEWS

   

Nokia COO to Leave the Company

Telecom network equipment maker Nokia said on Monday its Chief Operating Officer Monika Maurer was leaving the company, Reuters reports. Joerg Erlemeier, ...
   

Apple to Buy Shazam for $400M

Apple is close to buying the music recognition app Shazam for about $400m (£300m), media reports say. Shazam, a UK company founded in 1999, allows ...
   

Building Permits Increase by 45% in 2017

During the period January – September 2017, 4,281 building permits were issued compared to 3,901 in the corresponding period of the previous year, ...
   

Anastasiades and Tsipras to Discuss Erdogan’s Visit to Greece

President of the Republic of Cyprus Nicos Anastasiades will be briefed in detail by Greek Prime Minister Alexis Tsipras about Turkish President Recep Tayyip ...
   

Syllouris: We Deplore the Violations of Human Rights

The House of Representatives deplores the violations of human rights, wherever they are taking place, especially in Cyprus by Turkey, and declares its ...
   

Companies in Cyprus Using High Speed Internet Connections Increase in 2017

The number of enterprises in Cyprus using high speed internet connections increased in 2017, according to study published on Thursday by the Statistical ...
   

Cyprus and Egypt to Sign Memorandum on Aeronautical Search and Rescue

Cyprus and Egypt will sign a Memorandum of Cooperation on Aeronautical Search and Rescue. According to a press release issued by the Public Information ...
   

Amazon Expands its Echo Smart Speakers and Music Unlimited Service to 28 New Countries

Have you been envious of your friends in other countries who tell you about their Amazon Echo device or their Music Unlimited streaming service, neither of ...

HEADLINES

MOST POPULAR

Chivas_27/11-18/12_300x250px
Banking_Forum_23/11-14/12_300x250px

IMH LTD