Cyprus is courting investors in Thailand by giving them a lifetime citizenship in the European Union as long as they invest 100 million baht. The country of Cyprus aims to have more capital and they are focusing on Thailand. They are enticing investors by offering an easy access to migrant permission which will make them an instant citizen of the European Union just by investing.
According to a statement from the High Commissioner in Cypriot, Demetrios Theophylactou, the country is aiming to have more capital coming from the investors in Thailand for improving specific sectors such as tourism, property, infrastructure, gas, oil and energy.
There are various incentives which will be given by the Cypriot government to investor who will be willing to accept the deal.
It features competitive deals that are better than other countries in the European Union such as a lower tax for capital gains and a lower minimum for the capital investment which makes it easier for the migration process when coming to the Europe. For those who will invest 300,000 euros, they will be able to acquire permanent residence status while those who will invest 2.5 million euros will be able to get citizenship from the Cypriot government.
Theophylactou also added that now is the best time to improve the investment opportunities as well as give incentives to investors coming from Thailand since the economy of Cyprus is already diverse and it has started to prosper. The country is now adapting a modern economy that is free market as well as based in service.
There are many competitive advantage when choosing Cyprus such as its strategic location when it comes to the EU as well as euro zone, the framework is strongly legal and being regulated, easier to conduct business, there are incentives, the infrastructure is good as well as the quality of life that awaits there.
Theophylactou is also the high commissioner representing Cyprus in India but also accredited when it comes to Thailand. He has already met with Prayut Chan-o-cha, the Prime Minister of Thailand. Cyprus interest in Thailand investors may have stemmed from the fact that Thai real estate is booming.