Cyprus Citizenship Scheme Attracts Investors
Millionaires from around the world want to move to Britain over any other country, a new survey reveals. But Cyprus’ scheme that provides citizenship and a passport is proving successful, according to Nadia Read, head of world residence and citizenship platform LIO Global, which has published a report entitled Second citizenship & the migration of HNWIs 2000-2014.
The lure of good universities and schools, the ease of buying property and moving money, and the ability to travel freely within the European Union means increasing numbers of the super-rich from Russia, China and India want to become citizens in the UK.
Analysts New World Wealth and resettlement advisers Lio Global carried out the research, which showed the USA and Singapore trailed behind Britain as the top destination for so-call 'high-net-worth individuals (HNWIs)..
She explained: “The main reason people apply for a second residence or citizenship is to ensure freedom of global mobility and access, as well as security and wealth protection for their families.”
She added: “The majority of investors are typically looking towards the EU. Cyprus and Malta, in particular, are very popular as they offer direct citizenship without long waiting or residence periods.
“Portugal's Golden Residence Visa, as well as the Hungarian Residence Bond programme have also seen significant interest, as they offer investors residence in exchange for a smaller investment (in comparison to Malta or Cyprus).
'The Caribbean has also recently seen strong demand as countries such as Antigua and Barbuda or Grenada offer direct citizenship in under six months.'
The study revealed that more millionaires left China over the past 14 years than anywhere else.
Across the world the USA still has the most HNWIs, with 4.1million people listed as millionaires in 2014. Japan came second with 1.3million, while the UK has 840,000, making it in third place.
SOURCE: GOLD NEWS