Seminar “ Cyprus Investment Program – First class Education and Citizenship” ended brilliantly in Ha Long, Quang Ninh
Cyprus is the third largest island in the Mediterranean Sea. With the world’s leading airport system and excellent flight connection network, the island is the perfect place to work and travel within and outside the European Union.
Understanding the practical needs and deep interest in European immigration programs of Vietnamese investors as well as families investing in their children to study and settle in. Therefore, the Domenica Developer co-organized with Odin Land to hold the event for interested customers to understand this program.
Coming to the Cyprus immigration investment seminar, investors get
1. Security of my investment when buying off plan
- Apply the same due diligence as if buying in Vietnam
- Research your developer, check their credentials and registration
- Appoint a lawyer who is a member of the Cyprus Bar Association
- Contract of sale – Specific Performance
- Funds for citizenship held in Escrow account with lawyer as joint signatory
- Choose a builder with a build and bill policy
- For citizenship all providers must be registered with the Government and abide by a Code of Conduct
- Legal & Fiscal systems based on English Common Law
2. Recovery of the VAT I have to pay
- Standard rate is 19%
- For your permanent home can apply for reduction to 5%
- If you want to rent out your property you must pay 19%
- You can register with the VAT authorities to reclaim VAT if you are renting out your property for holiday rentals
- As in Vietnam, you can deduct the VAT you receive from your tenant against the 19% you paid on purchase
- It is possible to apply to the VAT authorities for a lump sum refund if you show a long term holiday rental agreement
3. Educating your children
- Free state school education in Greek language to University level
- Low cost private education
- Average annual cost depending upon age of children €4-5,000, discounts for multiple children
- Kindergarten to University
- Boarding facilities available from €20,000 p.a
- British Cambridge curriculum/ UK universities based on the island
- Lessons taught in English
- Active participants in championing global citizens
- Easier access to European Universities
The event ended successfully with the satisfaction of all attendees. This is also one of the special events in July that Domenica in collaboration with Odin Land co-organized.
