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The Cyprus Citizenship-by-Investment Program has seen a substantial growth in demand by 100% from the MENA region in the past six to eight months, according to a top official of Henley & Partners, the global firm on residence and citizenship planning for wealthy individuals and families.
The recent changes to Cyprus’ Tax Laws will further enhance its position as a top business and financial centre, said Dominik Zunkovic, Manager of Henley & Partners Middle East in Dubai. With Cyprus now offering an even more advantageous tax regime and numerous other business incentives, Henley & Partners expects to see increased demand from HNWIs, investors and entrepreneurs.
Cyprus’ Citizenship-by-Investment Program continues to be one of the leading citizenship-by-investment programs in 2015, according to Henley & Partners’ recent Global Residence and Citizenship Program (GRCP) Report. Cyprus’ recently revised taxation framework makes it the only citizenship-by-investment program in Europe to offer non-domiciled investors tax free profits.