18 Feb 2020
Cyprus, a traditional citizenship haven, gained a lot of criticism and scrutiny over the years. The UAE presents an attractive alternative for international investors.
Cyprus has historically attracted interest as one of the quickest and most efficient routes to EU citizenship however, owing to the increased skepticism and international crackdown related to golden passports and citizenship for investor schemes, the Cypriot Investor Scheme has seen further limitations imposed to the program with further changes expected to be rolled out within the coming months.
Some of the changes to be implemented by the Cypriot government include limitation of the number of applicants for citizenship to just 700 individuals per year, increasing the investment period required from three to five years, monetary donation required over and above investment, as well as enhanced due diligence and background checks for investors to overcome.
With limitation of such programs being introduced across the world, alternative methods of residency and investment opportunity are being sought and the United Arab Emirates presents an attractive option.
The United Arab Emirates are:
- Centrally located on the Persian Gulf
- Politically stable
- Easily accessible
- Year round blue skies
- No income or wealth tax
Should you require assistance or wish to learn more of the UAE Residency as an Investment Scheme, please do not hesitate to contact us.
Senat MEA DMCC is a full service platform, founded in 2014, with roots in Dubai that go back as far as 1984. Dedicated to trust and efficiency, at Senat MEA DMCC we ensure that our clients are equipped with leading counsel in navigating the region while taking into account the global nature of business and the importance of developing long lasting relationships.
Senat MEA DMCC’s team of lawyers, accountants and business consultants are highly qualified and come from a variety of backgrounds enabling us to supply you with incomparable expertise and outstanding services.