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Demand of Russians on the property for citizenship of Cyprus grew by a quarter

Demand of Russians on the property for citizenship of Cyprus grew by a quarter

August 29 2018 LJ cover – Спрос россиян на недвижимость для гражданства Кипра вырос на четверть
Tags: Cyprus, Real Estate, Citizenship, Statistics, Economy, Russian in Cyprus

Demand of Russians to purchase real estate of Cyprus and Malta to obtain citizenship of these countries increased in January-August by 40%, told RIA Real Estate in the press service of Knight Frank.

"According to the preliminary results of 8 months 2018, the number of applications of Russians to purchase residential and commercial real estate to obtain the citizenship of Malta and Cyprus increased by 40%," it says.

In Cyprus for 7 months 2018 year, 5,4 sold thousands of real estate objects, an increase of 25,5% over the same period last year. Half of real estate buyers were foreigners, it is noted in it.

According to unofficial data, at the moment, more than 2014 thousand applications from 1,6 thousand are submitted for the passport program of Malta, launched from 1,8 year and calculated for ten years, added in the message.

The US imposed new sanctions against the Russian Federation in early April, in particular, Oleg Deripaska and the En + Group, GAZ Group, Basic Element and RusAl were included in the "black list" (SDN list). Under the sanctions were also Victor Vekselberg and his group Renova, Suleiman Kerimov, Kirill Shamalov, the head of Gazprom Alexei Miller, the head of VTB Andrei Kostin. Adding to the list means blocking assets in the US and banning any business with these companies for US citizens.

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