Cyprus Plans Strong Recovery Following Pandemic

• Posted on May 26, 2020
• In Cyprus

Plans to open country to investments and tourism in the coming weeks.

Global Citizen Webinar Series – May 26, 2020 — For the 6th webinar of the Global Citizen Series which saw over 250 participants from 79 countries, Arton Capital featured the Cyprus Investment Programme, with the Former Minister of Finance of Cyprus, Mr. Harris Georgiades.

An important hub right between the Mediterranean, Europe, Africa and Asia, Cyprus’ strategic location, cultural diversity, and rapidly growing economy has seen a surge in foreign investments, high-end developments, and property and investment values over the past few years.

“Cyprus has always provided many incentives to welcoming foreign business and attracting investment,” states Former Minister of Finance of Cyprus, Mr. Harris Georgiades during the Global Citizen Webinar Series. Mr. Georgiades and his Cabinet are largely credited for the pivotal success of the economic reform that brought Cyprus back to recovery in 2016.

“In 2013, when we were regrettably in financial difficulty as a country, we did not consider banking and fiscal sustainability, so we were even more keen to see the economy rebound quickly. The Cyprus Citizenship Programme was yet another incentive to what makes Cyprus a pro-business and welcoming jurisdiction,” he stated.

To qualify for the Cyprus Investment Programme, applicants must make an investment of €2,0 million in Land Development, or Infrastructure Projects in addition to purchasing a residential property valued at a minimum of €500,000, or entirely invest the €2,0 million in real estate. Donations of €75,000 the Research and Innovation Foundation and €75,000 to the Cyprus Land Development Corporation are applicable in both cases.

Cyprus is well reputed as a welcoming and business-friendly environment and is amongst the most inclusive programs available in the industry, posing no restrictions on qualifying nationalities. It’s strict due diligence measures, however, remain intact.

“The advantage of working with a major global service provider like Arton Capital, instead of directly with developers, is receiving independent advice,” shares Founder and President of Arton Capital, Armand Arton. “It is an added level of protection at no additional cost to the investor.”

The underlying importance of reputation in this industry, holds a higher stake with programs gaining quick recognition. “Clients that have followed our advice and invested in the properties that we selected through carefully vetted developers are now reaching the end of their 5-year holding period.”

”With the final cost of the initial investment at zero, some investors have in fact made money on it,” says Akis Kyradjis, Managing Director of Arton Capital, Cyprus.

Although Cyprus was hit hard economically amid the pandemic crisis, the island has one of the lowest death rates globally and has had no new cases since mid-April, making it one of the least affected countries in the European region.

During the webinar, Mr. Georgiades mentioned that with Cyprus’ fiscal surplus and solid growth rate that has lasted for a full-five-year period, the government has been able to respond quickly and strongly with a fiscal boost to the economy.

“Cyprus will once again demonstrate that its economy will show the fastest rebound. It will be a difficult year, but I expect our economy to rebound strongly by 2021,” he states.

According to the Passport Index, the leading global mobility intelligence platform, with a visa-free score of 165, the Cypriot passport offers access to 78% of the world map.

Arton’s latest partnership with ASMALLWORLD, the world’s leading travel and lifestyle community awards all webinar attendees with a one-year complimentary Access Membership to the exclusive network.

“Although travel is temporarily hindered at the moment, this is an essential time to plan and to dream,” says Armand Arton.

“We will not only give you access to the freedom of mobility though the Passport Index mobile app but all the tools necessary to access exclusive travel, curated events, and memberships to make the most of your experience as a global citizen.”

With the lockdown now over, Cyprus plans to reopen its airports and hotels to tourism in the upcoming weeks.

“The best is yet to come,” concludes Arton.