Wealthy Lebanese nationals have become key customers of the Cyprus investment immigration programs as they seek a safe haven from potential future conflict in their country and the wider Middle East region.
With Cyprus still in full recovery mode following the acute financial troubles of the 2008 economic crash, investment from Lebanese – and other Middle East nations – is most welcome.
It has created a mutually-beneficial situation that means the two-year old program is thrive thanks to simple supply and demand.
Investment Requirements: Cyprus Residence Investor Program
- Deposit €30,000 with a financial institution in Cyprus.
- Possess secured annual income of not less than €30,000. This requirement will increase by €5,000 for every dependent person included in the application.
- Purchase a dwelling or any other property of minimum market value of €300,000
Investment Requirements: Cyprus Citizenship Investor Program
- Purchase of State Bonds €5 million
- Purchase of financial assets issued by Cypriot companies €5 million
- Investment in real estate €5 million
- Purchase, creation, or participation in Cypriot businesses €5 million
- Investment in fixed deposits €5 million
- Combination of the five investment options €5 million
- Deposit in the Popular Bank Public Company €3 million
- Purchase of private residence in Cyprus €500,000
There is even a fair in Lebanese capital Beirut aimed precisely at the type of people interest in ‘plan B’ residency.
The Beirut International Property Fair, Residency and Citizenship by Investment took place earlier in May and featured real estate companies and immigration lawyers looking to pick up Lebanese nationals as clients.
Put simply, an investment of €300,000 will get you Cypriot permanent residency, while if you can invest €3 million you can get a passport in two months.
Lebanese nationals who remember the country’s 1975 to 1990 civil war are only too aware of the need for an escape route when such problems arise.
With Syria the current epicentre of trouble in the Middle East, the situation is all-too familiar for the Lebanese.
There are extra stipulations to be met for citizens of conflict-hit nations, meaning getting the back-up plan is place with the future uncertain is considered crucial.
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