Immigration through investment is a concept adapted by many for a variety of different reasons, which can often be deducted down to increased mobility in terms of travel and better environment / great opportunities for the most part. And while these remain the main motivational driver for immigration applicants, changes in global tax regimes and other tax reforms have been cited as one of the leading drivers of immigration through investment – Dubai based Global Immigration Consultant, Vazir Group reported.
“Several expat US citizens are known to have flocked towards quickly acquirable passports like Cyprus and the Caribbean Islands following the Tax reforms put in place by the current administration and a similar trend has been observed following a call for changes to Indian Tax regime for Non-Resident Indians,” the company said in a statement.
“We observed a sharp rise in interest for Investment based immigration following the introduction of finance scheme based programs particularly for Cyprus and the Greece Golden Visa. However, the reasons declared by a large number of applicants since the beginning of 2020 have been the changing taxation norms across some countries. Cyprus citizenship comes without the compulsion to relocate and offers a conducive business environment and favorable tax structure making it an ideal choice for business owners looking for second or alternative citizenship and therefore gaining traction,” said Vrinda Gupta, Managing Partner, Vazir Group
Vazir Group recently introduced immigration to Cyprus through a financing scheme, whereby applicants can acquire EU citizenship at a cost 75% lower than previously. The program can now be applied for 688,000 Euros only as opposed to a 2,900,000 Euro mark generally required. The program is exclusive to Vazir Group across the Middle East region. The company has also devised a similar scheme for Greece Golden Visa programs at almost 50% lower costs.
The Cyprus program is structured through a unique financing program through which, applicants avail the benefits of an EU citizenship at a fractional cost while also creating an asset for themselves. The program is designed through a balanced self repayment and comes without any outright liability.