WEDNESDAY, 21 FEB 2018

 

CONNECT

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

Syllouris: Cyprus Solution Exclusively Depends On Turkey Stance

Kouyialis: Cyprus Expects EU to Maintain Improved Direct Payments System In Future CAP

IMH LTD
PwC_02/02_23/02_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

   

Ikea Joins Big Clean Switch to Offer 100% Renewable Energy Tariff

Joint venture claims cheaper green power could save UK households £300 a year Ikea is calling for households to join its latest joint venture ...
   

Cyprus Records Deflation Of 1.5% in January

Cyprus recorded deflation of 1.5% on an annual basis in January, official data released on Monday 20 February show.   The Harmonized Price Index for ...
   

Kouyialis: Cyprus Expects EU to Maintain Improved Direct Payments System In Future CAP

Cyprus expects the EU to maintain the role of direct payments as a means of supplementing and supporting agricultural incomes during the revision of the EU ...
   

HSBC Profits Jump to $17.2bn on Asia Growth

HSBC has posted a pre-tax profit of $17.2bn (£12.3bn) in 2017, saying its focus on Asia was driving growth. The results represent a 141% jump on the ...
   

KFC in UK Closing 900 Outlets

KFC has closed more than half of its 900 UK outlets after delivery problems meant they ran out of chicken. Last week, the fried chicken chain switched its ...
   

Significant Distinctions for Louis Hotels on Tripadvisor

2018 began very positively for Louis Hotels as it achieved high scores for 20 distinctions through the popular travelling website Tripadvisor. In fact, three ...
   

TUS Officially Launches Its Direct Flights to Ioannina

The Cyprus-based TUS Airways: "The Ultimate Schedule" officially launched, on Friday the 16th of February, its new route from Larnaca to Ioannina. ...
   

Production in Construction up By 0.1% In Euro Area For December 2017

Seasonally adjusted production in the construction sector in December 2017 compared with November 2017, increased by 0.1% in the euro area (EA19) and by 0.6% ...

HEADLINES

MOST POPULAR

Antifraud_30/01-14/03_300x250px
Gold_Issue_300x250px

IMH LTD