Real Estate Investor Magazine South Africa March 2016 | Page 58

CYPRUS

The most attractive
Residency Programme in the EU
€2Bn in Foreign Investment
BY JENNY ELLINAS

O

ver the past 2 years Cyprus has received more
than €2bn in foreign investment via their
permanent residency and “Citizenship via
investment” programmes.
The Republic of Cyprus is an ex-British colony
(Cyprus is not part of Greece), a full member of the
EU and currently has the most attractive residency
programme on offer for non-EU citizens. And her
“Citizenship via investment” programme has been
ranked in the Top 10 in the world by an international
lifestyle review.
Cyprus has become the darling of foreign investors
and is an attractive investment option because of the
new energy fields, privatisation and reforms. The
country exceeded growth expectations for first half
of 2015 growing 2,3% in Q3; and with 1,6% GDP
growth forecast for 2016, the Eurozone has declared
Cyprus a success story.

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MARCH 2016 SA Real Estate Investor

Some very influential foreign investment
has happened in Cyprus in the last year:

- ENI and TOTAL have set up offices in Cyprus
due to the huge hydrocarbon find;
- Halliburton (an oilfield servic \