Why India's Richest Are Seeking Citizenship In Cyprus

truetype

truetype

https://www.forbes.com/sites/leezamangaldas/2018/06/10/why-indians-richest-are-seeking-citizenship-in-cyprus/

India’s wealthy have long coveted foreign passports. Some see it as a ticket to easier tax regimes and more business friendly climates. For others, it’s the desire for a more western lifestyle or the ability to study, work or travel abroad with ease. For rich Indians looking for citizenship or permanent residency in a European nation, the scenic island country of Cyprus in the Eastern Mediterranean is becoming an increasingly popular choice, thanks to its “golden visa”program, where residency or citizenship can be acquired via investment.
 
truetype said:
https://www.forbes.com/sites/leezamangaldas/2018/06/10/why-indians-richest-are-seeking-citizenship-in-cyprus/

India’s wealthy have long coveted foreign passports. Some see it as a ticket to easier tax regimes and more business friendly climates. For others, it’s the desire for a more western lifestyle or the ability to study, work or travel abroad with ease. For rich Indians looking for citizenship or permanent residency in a European nation, the scenic island country of Cyprus in the Eastern Mediterranean is becoming an increasingly popular choice, thanks to its “golden visa”program, where residency or citizenship can be acquired via investment.
More...

There is no why, we know the answer 1) taxes 2) very easy/ cheap to get an investment residency which gives one access to EU and € 3) half way between India and UK ( preferred destination for Indians) 4) minimal regulatory oversight.
 
dealmaker said:
4) minimal regulatory oversight.
More...
The reasons you listed are all convincing, but I feel that this one won't get the attention it deserves. CySEC is pretty notorious for licensing shady brokerages. Nothing to do with Indians specifically, but it's worth pointing out all the same.
 
I work online advertising in my primary business. Quite a number of peoples in this biz are in Cyprus. Back in the Spring of 2013 some of the ad partners i pay were telling me to not wire any more payments to Cyprus because of banks (government) seizing 47% of their deposits overnight, with no warning. Most of them still live there, but have their bank accounts outside the country.

https://www.usatoday.com/story/mone...nk-of-cyprus-depositors-lose-savings/2595837/
 
You must log in or register to reply here.
Back
Top