November 1, 2021

Speaking to IMI in an exclusive interview, Les Khan – CEO of the Saint Kitts & Nevis Citizenship by Investment Unit – reveals never-before-published details about the CIU’s blacklisting practices: What types of discounting is permitted, what is not, what exactly it takes to get blacklisted, and how market participants can report illegal practices to get firms blacklisted.

See the 3-minute highlight reel below, or watch the full 32-minute interview in the IMI Club Members’ Lounge.

Khan also answered questions about how he’s dealing with trickery under the program’s real estate option – developers taking investment without actually building anything – and outlines the steps agents and applicants can take to protect themselves against handing over money to ghost projects.

Processing, Khan points out, continued largely uninterrupted during the pandemic, though there was a period recently in which work was delayed for COVID-related reasons. He explains how the Unit was able to overcome the challenge and how processing routines have changed – especially as they relate to paper versus digital documents – to meet the demands imposed by the pandemic.

Weeding out developers who don’t develop

“We’ve learned from the past,” says Les Khan about the changes they’ve implemented in the last year-or-so for the program’s real estate option, notably as they related to the escrow law and payout schedules, which he indicates are deterring less serious property developers from raising capital through the program.

“We’re not seeing the large number of developers that were there in the market before. We’re seeing a limited number of developers, and these are the ones who are building, and these are the ones who are selling shares.”

Questioned as to Saint Kitts & Nevis’ checkered past of incomplete CBI hotel developments and what foreign investors can do to avoid investing in properties that, eventually, go unconstructed, Khan offers the following guidance:

“Get yourself an agent who’s registered with us. Because that means he’s gone through our due diligence, he’s shown us that he is doing the proper screening on clients, he’s looking at AML and KYC. He has also done his due diligence on the real estate development that he wants to sell so that he can understand who is at what level of construction.”

Investors should also request that agents show them videos that demonstrate the stage of construction the various developments have reached. Khan encourages prospective clients and international marketing agents to consult local service providers who can attest to what’s really going on on the ground and, as a final resort, to call up himself (Khan), directly.

In the interview, Khan also offered instructions on how clients and agents should proceed to report a firm for blacklisting if they observe the discounting rules being broken. He also shares an anecdote from a few months ago, in which he had to admonish an international marketing agent about the illegal discounting activities of its sub-agent, warning that if the activity did not stop, the IMA would itself be blacklisted.

Sharp growth in applications in 2021, especially for one investment category

As regular readers of IMI will know, Khan politely declines to share specific numbers on program performance – exact application and approval numbers, for example – but, during the interview, he did divulge details on the changing nationality distributions: One of the program’s previously biggest markets has seen a drastic decrease in application volume but Khan points to four other markets that have seen a sharp increase that has more than made up for attrition elsewhere. Overall, he says, approval volume so far in 2021 has outpaced that of 2020 (itself a good year for the program) by 30%.

Speaking about the balance of investors’ preferences in terms of real estate versus the fund option, Khan reveals (in the full interview) that one of the two is now accounting for the lion’s share of applications in a 75/25 percent split.

“If they advertise prices that are below the government prices, they will go on the blacklist“

Many agents lament the frequent occurrence of agents promoting entirely unauthorized discounts for the Saint Kitts & Nevis program and want to know what Khan’s CIU is doing to prevent such practices. Khan does not equivocate in his response:

“First things first: Anyone who advertises a price that is not the government-regulated price of US$200,000, US$400,000 [real estate], or the fund – of US$150,000 for a single applicant – is illegal, as far as I’m concerned, if they are advertising. They will get blacklisted.”

Khan says he has no compunction about naming, on his CIU’s public blacklist, those who engage in the practice, “as long as we have enough proof.”

Khan’s assurances notwithstanding, industry veterans have pointed out that only about a dozen companies feature on the Saint Kitts & Nevis CIU’s blacklist, a number they say is much too low to reflect the true extent of the problem. Pressed on the question of how far an agent needs to overstep the bounds to get reprimanded and, effectively, what it really takes to get blacklisted, Khan reiterates his previous stance but provides some additional context:

“If they advertise prices that are below the government prices, they will go on the blacklist. Now, I know that agents have pricing sheets. That’s not an advertisement; that’s a quotation. And we have to be very clear [about the difference] between the government-regulated prices and what a developer is willing to negotiate for – their commercial terms.”

What Saint Kitts & Nevis has done to address this through the Escrow Bill, Khan points out, is adopt a strict payout schedule.

“What this means is that regardless of what price this is sold at in the market, if that application has met all of its requirements in terms of documentation […] and the application ultimately gets approved, the developer has to put the full amount into escrow. The full amount, regardless of what price he sold at. And that money is going to be released based on the payout schedule that has been agreed to with the government.”

In the past, he comments, some agents would place the money in escrow and take it back out as soon as the application had been approved. That’s no longer possible, because of the escrow law and payout schedule system, Khan maintains.

“The days of coming in and going out of escrow are done.”

The escrow bill brought a “tightening”, he says, pointing out that the number of approved escrow agents has been reduced from more than 60 in 2018 to just three now.

“I also say to the clients and to the agents, ‘if you see an agent offering you the fund at less than US$150,000, then it’s illegal.”

IMI Club members can watch the full, 32-minute interview with Khan in the IMI Club Members’ Lounge by clicking the “Exclusive Interviews” tab. You must be logged in to access.


October 8, 2021

In 2019, we analyzed the database of the RCBI Company Directory to understand which investment migration programs are the most commonly offered among firms globally.

Since then, the number of companies registered in our database has more than tripled in size, from just over 300 to just under 1,000 today. That considerable expansion of the sample size warrants another look at which program destination countries feature the most frequently on RCBI company shelves.

For the purposes of this analysis, we have considered only those firms that have listed investment migration as the main focus of their business. In other words, firms like Deloitte or Sovereign Group, while they do offer investment migration as part of their panoply of services, are not included. This reduced the number of firms under consideration from 991 to 585.

Note: If your firm is not yet listed in the RCBI Company Directory, you can register here. It’s completely free.

Notable from last year

Antigua & Barbuda’s CIP tops the list once more this year, though its relative share has shrunk from precisely half of all companies to 41% today. Saint Kitts & Nevis remains the runner-up but has also seen its share drop from 47% of companies to 40%.

The United States (all residency programs) has supplanted Dominica at the third spot on the list, while Portugal has pushed Malta (all programs) out of the Top 5.

Turkey’s CIP saw the greatest relative improvement (in terms of percentage points) during the period: While only 7% of firms in the database offered this program to their clients in 2019, 17% do so today. The sharpest reduction was observed for investment migration programs in New Zealand, which were promoted by 12% in 2019 but only 1% today. New Zealand also saw a reduction in the absolute number of firms that offer it.


To adjust for the possibility that small, one-program firms might skew the rankings, we also looked in isolation at the program offering of relatively larger firms – here defined as having 20 or more employees – because they are more likely to offer a diversified portfolio of programs and, thereby, provide more representative grounds for comparison. Considering large firms alone reduces the sample size to 171.

The larger-firms segment paints a different picture of which programs are the most widely promoted.

  • The United States takes the number one spot, with 51% coverage;
  • Antigua & Barbuda falls from pole position to 5th, though with a higher rate of coverage than in the all-firms ranking.
  • Canada, meanwhile, leaps from 9th to 3rd place, increasing its coverage from 36% to 50%.
  • The UK programs, similarly, improve their coverage by 10 percentage points.


October 8, 2021

During her visit to Malta this week to approve a COVID-19 economic recovery package, Ursula von der Leyen, President of the European Commission, responded to a question from the press regarding her position on citizenship by investment in the country:

“We have been discussing the topic of the ‘golden passport’ and that it is of utmost importance to stop that procedure because we should not forget that the ‘golden passports’ enable, potentially, the person to have access to 27 member states in the European Union.”

The Commission last year initiated infringement procedures against both Malta and Cyprus over their respective citizenship by investment programs. Since then, Cyprus has closed its program (not in response to European objections but to a domestic political scandal) while Malta has replaced its MIIP with a new citizenship by investment program, commonly known as the MEIN policy.

Von der Leyen’s brief comments this week are the Commission’s first pronouncement on Maltese citizenship by investment since the MEIN policy took effect.

Prime Minister Robert Abela, who shared the stage with the European Commission’s President during their press conference, left it to Alex Muscat, Parliamentary Secretary for Citizenship, to respond to von der Leyen’s comments:

“There’s a point of principle where we’re not precisely agreeing. We believe that whatever relates to citizenship is a national competence. The country decides its competence on citizenship,” Muscat told TV Malta, reiterating his determination to keep the program, a position he has indicated Malta is prepared to defend in court.

In an exclusive interview with IMI in December last year, Muscat pointed out that while he appreciated the Commission’s concerns, he also believed these were effectively addressed through the program’s control measures:

We believe that with proper mitigation factors, scrutiny, and due diligence, these initiatives can offer great opportunities to both the countries and families applying. We understand the European Commission’s position as a lot has been said and pressure has been mounted. Malta has always acted in good faith and we trust that the Commission understands this and is more than capable to differentiate between good and bad practices. 

We too are concerned about irregular granting of citizenship in other countries. Our argument has always been that anyone who is not fit and proper would think more than twice to apply under the Maltese regulations, as they know they would be thoroughly checked. It would be easier for the wrong sort of individuals to find other paths, which are lighter in regulation and not in the spotlight.


October 1, 2021

Whether for an investment or a lifestyle property, Greece has a real estate scene that offers different housing options for different needs. From residential apartments in historic Athens to luxury villas on the picturesque islands, the country offers many alternatives. 


Although the country’s real estate market has been dormant for too long, we expect that it’ll make a leap in the coming years. This presents a great opportunity for international investors who want to apply for a Greek Golden Visa by investing in real estate. But how do you make sure you’re on the right track when you’re buying a property in Greece? How do you choose the right property that complies with Golden Visa regulations? I’ll draw you an outline which you can benefit from in your quest for real estate investment for Greece Golden Visa.

Is the House Properly Renovated?

If you’re buying a property in Greece, either in Athens or the islands, note that most houses you’re going to view are going to be old. Some of them are being renovated but still, you should inquire about the extension of renovation: Did the owners just do a cosmetic renovation? Did they take care of the infrastructure? Make sure you get clear answers to these questions as they might cost you a lot after the acquisition. If renovation is needed, try to find a reliable contractor before you buy the property. 

Are You Willing to Splurge? 

The previous question brings us to another one: Are you ready to spare the budget for the renovation? If you’re going to make any renovation to the property, this will not be seen as part of the Golden Visa investment threshold of €250,000. This will be an extra cost. Consider this when you’re filtering your search. 

Who Is the Property Owner?

It’s possible that the property you’re going to buy in Greece has been inherited and has multiple owners. This is why it’s important to inquire about the ownership structure. Speak to your real estate agent and ask for concrete answers to avoid any delays during the title deed process and interrupt your Greece Golden Visa application.

Is the Property Officially Registered?

Although it’s not very common, some houses in Greece, especially on the islands, aren’t officially registered in the title deed. Having this information before the acquisition is crucial as it’s going to cause delays. This is why we always recommend our clients to work with real estate advisors, rather than trying to sort out the issue on their own.

Have You Checked the Location Thoroughly?


We all know that location is always the biggest priority with real estate acquisition. However, when it’s in a foreign country, it gets more important. This is why we recommend checking the location thoroughly and stick to ones that always see demand from investors and tenants. This is especially important if you’re making your investment to get side income through rent.

Is It a Commercial Property?

If you’re going to use the property for commercial purposes, note that working with corporate tenants on a long-term contract is more profitable. Otherwise, tenant circulation will cause rental loss every time the tenant leaves. Tax implications of the rental income are another concern. For example, although the return on Airbnb properties looks higher on paper, operation fees are high and you’ll be taxed on your gross earnings.

Is the ROI Reasonable?

We advise our clients to make logical decisions rather than emotional ones when buying property in Greece. They sometimes make the mistake of getting too excited with the return they see on paper without making a thorough assessment. A higher return is good only if it’s real and sustainable. This is why we’re very transparent with our clients to avoid any disappointments and misunderstandings.

Are You Going to Relocate?


Most Golden Visa investors who are looking for a new lifestyle prefer to buy property on the Greek Islands. If you’re also going to relocate to one of the islands, make sure you check the infrastructure and healthcare services. Although the popular islands have airports, with the smaller ones you’ll need to depend on the ferry as the main mode of transportation. This is fine during the high season but note that you’ll be dependent on weather conditions in the winter. 

Are You Working With the Right Professionals?

Working with legal professionals is an important part of buying property. However, when it’s for Greece Golden Visa, it becomes critical. So when you choose to work with a particular firm, feel free to question their experience in real estate due diligence, sale contracts, and Golden Visa applications. Greece Golden Visa is a scheme that has strict rules for payment methods and sales contract wording. A competent legal team who has experience with Greece Golden Visa will ensure that the process goes smoothly, saving you time, effort, and money.

More on Greece Golden Visa by Real Estate Investment 

Either as a means of pure investment or a second home to live in, Greece Golden Visa by property acquisition offers many benefits to its investors. Thanks to its low investment threshold, no stay requirement, and visa-free travel opportunity, it’s one of the most favored residency programs in Europe.

Greece Golden Visa application is a quite straightforward process. Still, it requires careful handling as there are potential issues that might stem from the property and bureaucracy. This is why we put so much emphasis on working with investment real estate professionals who are experienced with the Golden Visa process. 

About Get Golden Visa

Get Golden Visa is a bespoke investment advisory firm. We provide end-to-end solutions on residence and citizenship by investment programs in numerous countries worldwide. Through our local office and certified real estate professionals in Greece, we simplify the property search of our clients.

With our expertise in independent investment advisory, we provide an efficient service to the hundreds of families we work with each year.


August 6, 2021

On July 20th, the European Commission presented proposed legislative changes to its AML/CFT framework, which, if adopted, would apply to all EU member states. The proposal seeks to expand the range of entities defined as “obliged entities” to include, for the first time, investment migration practitioners.

The legislative package includes proposals for a 6th Anti-Money Laundering Directive (AML6), the provisions of which would be transposed into the national laws of individual member states.

The proposal reads:

The range of entities defined as Obliged Entities under current EU AML/CFT legislation and thus subject to EU AML/CFT rules is amended in the following ways: […] operators involved on behalf of third-country nationals in the context of investor residence schemes are added […]

What obligations do obliged entities have?

Should investment migration practitioners and firms become obliged persons or entities, they would be compelled by law to prepare “internal policies, controls, and procedures to mitigate money laundering risks”, including such procedures and controls as:

Customer due diligence
reporting and record keeping
compliance management
employee screening
employee training

Firms are also compelled to appoint a compliance officer or department to monitor procedures and to have internal policies tested by independent auditors.

Effectively, IM firms would be under the same set of compliance and reporting obligations as financial services institutions, tax advisors, accountants, notaries, and so on.

How does the proposal define investment migration operators?

Essentially, anybody representing a third-country national vis-à-vis EU member states for the purpose of obtaining residence permits in exchange for investment:

Investment migration operators are private companies, bodies or persons acting or interacting directly with the competent authorities of the Member States on behalf of third-country nationals or providing intermediary services to third-country nationals seeking to obtain residence rights in a Member State in exchange of any kind of investments, including capital transfers, purchase or renting of property, investment in government bonds, investment in corporate entities, donation or endowment of an activity contributing to the public good and contributions to the state budget.

Note that the European Commission proposes to exclude from the legislative package those working with citizenship by investment programs, not because it considers such schemes any less problematic but because it considers CIPs, as such, illegitimate:

This Regulation should not apply to investor citizenship schemes, which result in the acquisition of nationality in exchange for such investments, as such schemes must be considered as undermining the fundamental status of Union citizenship and sincere cooperation among Member States.

IMC believes Commission should regulate more

Reacting to the legislative proposals, the Investment Migration Council issued a statement saying it welcomed the proposal:

“We welcome that the proposal of the European Commission to regulate the operation of investment migration and to create strict common standards for all parties working in the field of investment migration are largely in line and come very close to the recommendations made in the Second Report published by IMC,” the statement reads.

“Notwithstanding the strong efforts of the IMC to enforce the recommended standards in the field, the lack of regulation on international or supranational level has prevented the full implementation of the recommended standards so far. The IMC, therefore, proposed on numerous occasions to work together with the EU, as well as with other relevant organisations, towards the strengthening of the minimum due diligence standards and regulation of investment migration. To that end, the IMC welcomes the proposal of the European Commission for regulation of residence by investment.”

Though lauding the proposed imposition of compliance standards on residence by investment practitioners, the IMC said it was disappointed the regulations would not extend to CIP practitioners as well:

“It is disappointing, however, that the European Commission decided not to propose regulation of citizenship by investment. The IMC’s position is that both citizenship and residence by investment should be effectively regulated to prevent the risks inherent to these programmes.”


August 6, 2021

The Residences at Secret Bay, Dominica’s crown jewel development and only six-star, award-winning, all-villa resort, is garnering praise and admiration from Citizenship by Investment (CBI) investors from around the world who have obtained second citizenship by acquiring real estate at what has become known as the gold standard Citizenship by Investment projects across the globe.

With Phase 1 sold out and Phase 2 nearly 50% sold out, The Residences continues to see rapid momentum from CBI investors who seek an already built product with a strong track record and competitive exit strategy. The globally-respected programme has attracted investors from North America, Africa, the Middle East and beyond, being recognised as a premier CBI opportunity. 

In recent discussions with existing CBI investor-owners of The Residences at Secret Bay, these astute investors shared why they desired a second citizenship, and why they chose Dominica, and specifically, The Residences at Secret Bay. 

What motivated your application for Second Citizenship and why did you choose Dominica?

CBI Investor Aly Kinawy:  “For me I chose Dominica after a lot of research encouraged by the CBI index; a publication of Financial Times ranking Dominica as the World’s Best Country for Second Citizenship. Also, it’s an old programme that saves a lot of time and effort as I received a passport with good reputation at my home country without traveling or spending time in Dominica.”

CBI Investor MT:  “Our desire to travel visa-free in Europe and in the UK as a family without any burden of going through visa applications’ paperwork and appointments in consulates. Research led us to Dominica and after a very successful presentation by MDM Consultancy & Marketing, where no questions were left unanswered, we made a decision for our entire family.” 

CBI Investor RP
: “There were several countries presented to my daughter and me.  However, when we saw photos of Dominica, we decided to research about the country.  We immediately fell in love with its beauty.  We also considered safety and we learned how safe the island is.  Unlike other islands in the Caribbean, tourist-targeted crime is rare and residents are more than willing to help out.  This was a huge factor for me.” 

CBI Investor Isaac R.: “The main motivation factor that drew our family to choose the Dominica citizenship programme was its popularity as a second passport for travel convenience and international mobility. Dominica gave us the opportunity to apply and be part of this very old and known citizenship program.”

Why did you choose Secret Bay?

CBI Investor Aly Kinawy: “When I read the reviews about Secret Bay in many sites and how elite it treats its customers, I felt that surely that level of treatment would be applied to investors.”

CBI Investor Isaac R.: “We were recommended to the Secret Bay project by our very well-known advisor from Carte Blanche Immigration Services. Later we read more about the project and its recognition from various internationally reputed sources which further motivated us to go ahead with the investment in the Secret Bay expansion project. We have been recommending Secret Bay to others too.” 

CBI Investor MT: “According to Robb Report, Travel + Leisure and beyond, Secret Bay is a very sought after and successful resort in the wonderful Caribbean nature island of Dominica. It has a unique construction style which draws oneself into its nature and tranquility. Yet, you may surely find watersports and many other activities within and around. I would recommend Secret Bay to other citizenship investors.”

How has your experience been so far as an investor?

CBI Investor MR
:  “Since our purchase with Secret Bay, the company has updated us quarterly with emails about how our investment has been doing in numbers and even during COVID we cannot complain about the returns.”

CBI investor RP:  “It’s quite effortless. We receive emails indicating our returns and immediately following the amount is transferred to my account. Secret Bay has even continuously paid returns during the pandemic.”

CBI investor TS
:  “I have received the first returns on my investment and looking forward to receiving the second as well as subsequent returns. Secret Bay has done well here despite Covid-19.”

CBI Investor Isaac R.: “We are 100% satisfied.” 

Another benefit to CBI investors is the ability to visit Secret Bay for one week a year and experience a world-class luxury resort that includes a gourmet restaurant, serene spa, top-end service, recreation equipment and more. When asked if they’d be using their week at Secret Bay, all CBI investor-owners at The Residences responded overwhelmingly, “Yes”. 

For those new to the CBI opportunity at The Residences at Secret Bay, it is the only government-approved real estate project in Dominica offering purchase options to both vacation home buyers and citizenship investors. Dominica’s CBI Programme distinguishes itself as leader amongst Citizenship by Investment programmes earning the title of the “World’s Best Country for Second Citizenship” for the fourth consecutive year by Professional Wealth Management magazine — a publication from the respected Financial Times. 

Secret Bay’s new residences were recently showcased in global publications like Departures, Robb Report, JustLuxe, Ocean Home Magazine and Wealth Magazine, among others, recognised not only for their impressive offering, but their most coveted amenity — second citizenship. And, Secret Bay was recently named one of Travel + Leisure’s top 500 hotels in the world, and last year was named the magazine’s #1 Resort Hotel in the Caribbean, Bermuda and the Bahamas and #6 Hotel in the World. The awarding-winning Green Globe certified resort has been consistently recogniZed for its exceptional design, service and experience by such global travel and lifestyle publications as Architectural Digest, CNN, Fortune, National Geographic, Outside, the cover of Travel + Leisure, and The Telegraph. The property is the first and only property in Dominica to be affiliated with the elite luxury brand, Relais & Châteaux. 

The Residences’ CBI offering is priced at US $208k/share. To learn more about Citizenship by Investment in The Residences at Secret Bay, visit For a consultation, please email

*In some instances, Initials have been used to represent investor names to maintain their anonymity. 


August 6, 2021
August 6, 2021

The investment value of projects for future rental in Limassol

Limassol can definitely be characterized as Cyprus’ investment magnet and especially in the property sector as there is no doubt that it’s the most vibrant and cosmopolitan city in Cyprus. It is a city with a strong workforce, a vibrant business environment, and many job opportunities.

Limassol is a vibrant city in Cyprus that is ideal for everyday living. It boasts a wide range of amenities such as shopping centers, ample entertainment, marinas, and dining options that cater to Limassol’s international population whilst also staying true to its traditional Mediterranean roots.

Over the years, the face of Limassol is continually being developed through many new and unique projects, which create an international atmosphere by improving the life quality and living standards of the citizens. This acts as an inspiration for individuals, families, and businesses to choose Limassol as their place of residence.

Limassol has the fastest growing property market on the island by offering strong renting market and landmark buildings. It is also described as one of the most diverse commercial and residential property markets in Cyprus. Moreover, due to its prime location on the coast, it is considered to be a thriving holiday property market that can be easily compared to large capital cities all over the world.

High-value residential property transactions, > €1 million, have been exhibiting a remarkable increase in the past few years. Notably, the CAGR from 2013 to 2019 reached 63%. After a strong 146% y-o-y growth in 2016, the trend shows a decelerating growth, reaching 18% y-o-y growth in 2019. Limassol captures the majority of high-value residential transactions, exceeding 56% in 2019.

High-value residential transactions recorded a significant decrease in the first quarter of 2020, compared to the same period in 2019. The decrease can be observed across all districts with the exception of Larnaca, which recorded an increase, from 7 transactions in the first quarter of 2019 to 22 transactions in the first quarter of 2020.

Strategic location 

Cyprus is a unique island country shaped by its geographical location and presence through western civilization history. Its’ location makes it an essential part of any security dynamic in the region.

Based on the latest figures published by the statistical service, Cyprus is becoming an ever more popular destination for tourists, since 3.976 million tourists visited the island in 2019, recording a 1% increase over the previous year and setting a new record.

One of the main advantages of its geographical location includes its positioning on an axis of movement, both north-south and east-west. It stands at the crossroads of the three continents, Europe, Asia, and Africa. 

Its strategic location, excellent infrastructure, convenient accessibility by sea and air, well-educated workforce as well as its low cost of living, and pleasant way of life contributed to the island’s development to an undisputed regional offshore center.

Due to its advantageous strategic location, Cyprus has attracted foreign investments and international businesses for many years.  It also harbors the biggest part in the Mediterranean transit trade and has traditionally strong links with nearby countries such as Israel. 

Steady value increase of properties and new emerging incentives for investors
An investor, or an individual who wants to invest in real estate, should definitely seek investment opportunities with steady value increase over the years, which will give them the ability to obtain massive returns (ROI). There is no doubt that Limassol’s real estate industry is one of the most steadily and fastest-growing industries in Cyprus.

Eventually, the rental property prices are also rising, since the increase in tourism and home-sharing practices on platforms like Airbnb has led to a spike in property price and rental increase, especially in Limassol.

Real estate contributed €3,24billion to the Cypriot Economy in 2020, which is higher than the combined contribution of the Financial and Insurance activities and the Manufacturing sectors. The sector directly employs 42.770 people more jobs compared to the Manufacturing sector and more jobs than in the Financial and Insurance Activities sector.

Taking into consideration recent years’ statistics, during 2019, the apartment prices in Limassol rose strongly by 7.6%, while house prices increased by 2.4%. The type of properties that are mostly in demand is luxury apartment units in town centers and houses in sought-after suburbs.

Plethora of property choices

Limassol offers a wide range of properties for sale, for any person looking to buy property for a holiday home or permanent residence. 

Find a plethora of property choices and a large number of property listings to choose from in order to match exactly your needs and vision.

By visiting Pandomus Group’s website, you can explore all the available residential and commercial listings located in even the most prestigious residential locations, perfectly positioned to take in the best of everything the city has to offer, yet with easy reach to the center. Our mission is to become a true asset for their investors’ assets, by helping them invest in and develop high-value properties that promise high-value returns.

We should also note that there is a strong demand for high-quality offices in Limassol with new companies seeking modern, flexible and sustainable workplaces. The demand has been significantly increased in recent years since more and more companies chose to have their offices located in Limassol. With the new offices, the demand for 1-2 bedroom apartments has also grown, since companies are looking for residential places in order to host their employees. Many companies in Limassol offer this as part of their employees’ benefits scheme.

The property listings database is continually updated, with real estate properties that offer unique aesthetics and architecture. With a highly competitive pricing policy, Pandomus ensures that the quality of services it offers is met with reasonable and affordable fees that are both fair and beneficial for each and every investor.

Satisfies all kinds of lifestyle
Living in Limassol makes it possible to immerse yourself completely in your career and business, finding yourself constantly at the forefront of global business development, whilst at the same time enjoying a laidback, reclusive family-oriented lifestyle. 

If you are looking for a peaceful place to retire and enjoy the benefits of retirement to their maximum, Pandomus group can help you establish the lifestyle you desire by finding the appropriate property for you. Everyone’s home is different, especially if your children have grown up and you’re busy enjoying your well-earned retirement. But there are some things we all want. We want a home that’s safe, warm, and well-maintained. A home that’s in a great location, close to all the facilities we enjoy and need. A home that’s peaceful and private, but one that will be carefully watched over if we head off on holiday. And a home where new neighbors quickly become your friends. 

Finding a combination of outstanding property, promising investments and high-quality living may prove to be elusive, especially in one single location. Limassol is unique in this sense, as it is amongst a handful of select locations on the planet, which offer just that.

There’s nothing quite as conducive to love as moving in with your partner and creating a home together. With romance in the air and Valentine’s Day approaching, you may find yourself planning your future with your loved one, part of which involves a new home. So from first homes for young couples to beautiful homes for those with growing families, Limassol can satisfy all kinds of lifestyles according to your needs.

Satisfies all kinds of needs

The island of Cyprus features prominently as a highly favorable taxation destination, with a class-leading land registry system and an enviable legal system. Collectively, these features have been drawing an increasing number of professionals, businesses, and investments on the island over the last four decades.

Cyprus offers high standards of healthcare and education, and those living in Limassol are able to access these top-level facilities. The majority of the island’s hospitable inhabitants speak fluent English and are able to provide all services on offer to people coming from abroad.

Limassol is a beautiful place to live in, with an abundance of natural views. From its stunning, blue flag beaches and mesmerizing coastal areas, all the way up to the Troodos mountain range and the myriad of traditional villages and mountain resorts, Limassol offers something for everyone. This setting is ideal for those who like to keep active with a variety of water and winter sports on offer. Clear blue skies, a modern infrastructure that includes top-range healthcare, low pollution, and an inviting cosmopolitan lifestyle, coupled with a low crime rate, provide an unprecedented sense of wellbeing.

Furthermore, Limassol features a balanced blend of luxury developments such as ultra-modern high risers, elite villas, international business hubs, and offices as well as extravagant hotels, alongside the traditional old town and a historic city center that allows its residents to enjoy both worlds effortlessly.

International Business hub

Recognized as the island’s ‘economic powerhouse’, Limassol offers much more than just a desirable lifestyle. People are attracted as it is renowned as a prime investment location. Start-up companies and established multinational businesses alike have exhibited an equal preference for Limassol due to its high standards of living and working, thus making Limassol a premier international business hub. 

As previously mentioned, the majority of the diverse population speaks a high level of English, which allows for the effective handling of business, banking, and legal matters; additional languages such as Russian and Chinese are also available. 

Below you can find some links for available properties offered by Pandomus group:

Villa in St. Raphael Area, Limassol

This superb contemporary Villa is set in one of Limassol’s most prestigious residential locations, perfectly positioned to take in the best of everything the City has to offer, yet within easy reach of the center.

Apartment complex in Tsireio, Limassol

The modern residential apartment complex of 8 units in the Tsireio area. The complex offers convenient access to the city center and motorway

Duplex Apartment complex in Germasogeia, Limassol

At a unique spot in Limassol, on the top of a hill in the Germasogeia area, Pandomus group of companies are currently developing a premium apartment complex of unique esthetics and architecture 
For more information contact us at or vision our website, Facebook, and Instagram pages for further information


April 15, 2021
April 15, 2021

As more people are willing to move countries for opportunity and stability, anti-immigration policies and tightened borders are prompting a rise in ‘citizenship for sale’.
On a recent flight, I was idly flipping through the inflight magazine, when I came across an unusual advert promising “a unique strategy to safeguard your future prosperity and security.”

The advert was plugging what it called “citizenship by investment.”

I’d heard of citizenship-for-sale initiatives in the past, and – prompted by the ad – I briefly wondered whether a second citizenship beyond my American one was something I might need. Is this something that people other than the uber rich are considering, and for reasons other than tax optimisation? And if so, why?

As more countries tighten their borders and paths to immigration, a new industry is working to bypass those restrictions – for a hefty fee
“The global rise of populist movements, together with an ever-increasing sentiment towards the creation of insular societies have all contributed to the unpredictability of our rapidly changing world,” explained the advert.

As more countries tighten their borders and paths to immigration, a new industry is working to bypass those restrictions – for a hefty fee.

A desire to stay global

Investment citizenship programmes are not new. They’ve been around for decades, primarily as a way for countries to boost their incomes. Canada and the Caribbean island of St Kitts and Nevis started theirs in the 1980s and the US and UK began similar ones in the 1990s.

The specifics of different investment citizenship programmes vary by country. They allow foreigners to invest in real-estate projects and businesses, buy property, or to donate money directly to a country’s government in exchange for a visa or passport.

The aim was to get more money flowing in from entrepreneurs who saw value in tropical beaches and low taxes
St. Kitts and Nevis launched its initiative in 1984, one year after the fledgling country claimed independence from the UK. The aim was to get more money flowing in from entrepreneurs who saw value in tropical beaches and low taxes.

It only attracted a few hundred participants in the beginning. But, by 2009, backed by a marketing campaign, passport holders of the island nation were given visa-free access to the 26 Schengen area countries and demand increased rapidly.

The industry has seen huge growth in recent years. 2014 marked the first year that the US ran out of immigrant-investor visas before the end of the fiscal year.

London-based CS Global Partners, the consultancy firm that made the inflight-magazine advert I read, shepherds investors through the legal process of procuring a passport through investment. The firm says interest in their services has grown fourfold in the past year.

“We are definitely seeing big shifts,” says CEO Micha Emmett. “The traditional market still exists – very much so – but we’ve seen [people from] countries that were never interested in second citizenship by investment options before now coming online making inquiries. For example, we saw a 400% increase in enquiries from Turkey in March.”

Events including the decision by Britain to leave the European Union and the 2016 US Presidential election are driving new interest.

UK citizens are now seriously weighing their options, Emmett says.

“In terms of what happened in the UK with Brexit, on the day that the vote was announced, our phones rang off the hook, I was approached in the street by people, there was a very apparent panic,” she adds.

A changing clientele

Wealthy, private investors from emerging market economies are driving the trend, according to The International Monetary Fund.

Data from the controversial EB-5 visa programme in the US, which allows foreigners to invest in real-estate projects in exchange for a fast-tracked green card application, shows the demographics are shifting, according to Peter Joseph, executive director of Invest In USA, an industry trade organisation for the programme.

“We are seeing a few countries adding to a diversifying trend. China is the predominate source [of applicants], making up about 80%, but places like Vietnam, India and Brazil have been sources of growth in the past few years,” he says.

Paul Williams of La Vida Golden Visas, which specialises in second residency and citizenship within Europe, works with clients from over 50 countries. Since Britain voted for Brexit, he says, he has seen an interest from UK citizens for the first time.

Citizenship: a hot commodity

The most well-known programmes are in the Caribbean, where white sand beaches, low investment minimums, non-restrictive residency requirements and quick processing times combine to attract investors.

For example, to become a citizen of the Caribbean island of Dominica, which sits between Guadeloupe and Martinique, you’ll need an investment of $100,000, with no requirement to spend any time on the island and no wait-time.

Such programmes are important economic drivers
And, such programmes are important economic drivers. In St. Kitts and Nevis, passports are the country’s largest export and the money generated from the programme is seen as responsible for lifting the nation out of debt and fuelling a construction boom.

The IMF says Citizenship by investment programmes amounted to 14% of St Kitt’s GDP in 2014, and other estimates say the programme may have accounted for as much as 30% of the government’s revenue in 2015.

But increasingly, richer countries are offering ‘citizenship for a price’. Comparable programmes in New Zealand cost NZ$1.5m ($1.06m) – a popular move among Silicon Valley’s tech elite recently – or £2m ($2.58m) for the UK and $500,000 for the US.

Joseph says the EB-5 programme is hugely valuable for the country, delivering over $1 billion dollars to the US economy each quarter.

“We’ve seen exponential growth since the financial crisis in 2008 to the tune of an increase of over 1,200% from 2008 until today,” he says.

Critics argue the low minimum is a loophole being exploited by developers
Increased interest in the US programme is due in part to the relatively stable economy and safe investment environment, but also thanks to the low investment minimum. The EB-5 programme requires the $500,000 to be invested areas lacking jobs and cash, but critics argue the low minimum is a loophole being exploited by developers.

Although the US caps the total number of visas granted each year through the programme to 10,000, the number of applicants has no limit. Interest, it seems, doesn’t either. “There are currently over 23,000 investor petitions for a visa number.” Joseph says, “That’s just how many that are pending right now.”

At last count, 23 countries from Cyprus to Singapore offered some kind of investment residency or citizenship scheme and more are being created with similar programmes proliferating across Europe. Almost half of all EU member states now offer some form of investment residency or citizenship programmes.

Mobility is key

For as little as $50,000 (in Latvia) or as much as $10 million (in France), foreigners can buy legal status to live, work and bank in a number of countries. Perhaps more importantly, by extension, they buy access to visa-free travel to countries around the world.

On the German passport you can travel to more countries than with any other citizenship in the world
And, there’s an informal rating system for the most sought after passports. “Some people in the industry determine [the value] by the number of visa-free countries a person can travel to. So I think at the moment the data out there is that on the German passport you can travel to more countries than with any other citizenship in the world.” Emmett says.

In a globalised world where political isolationism is paradoxically on the rise, this freedom of movement is an attractive element of such schemes.

Andrew Henderson, an American entrepreneur and founder of the Nomad Capitalist, a blog, podcast and consulting company, has four passports and is working on his fifth. Multiple citizenships provide him with a multitude of entrepreneurial options, he says.

He says investing in programmes in the African archipelago of Comoros and the Caribbean Island of St. Lucia give him more opportunities and lower taxes.

“For me it’s about how I could have better options, better tax treatment, better treatment as a person and get the same visa free travel.” he says, adding that he expects investment citizenship to rise.

“I think the world is going more nomadic. People don’t want to be in once place. They want to have one or two or three bases for lifestyle reasons and pay reasonable taxes, and that’s what becoming more accessible.

Most of our clients do not go and live in the country they invest in. They see it as more of an insurance policy
While not everyone with multiple citizenships will reside in multiple nations, Williams says the industry can be viewed as a barometer of turmoil in the world. He says many of the investors he works with see these programmes as a safety net.

“Most of our clients do not go and live in the country they invest in,” he says. “They see it as more of an insurance policy. They know that they’ve got that second residency, so if they ever have to jump on a plane they’ve got that option.”

Your country for sale

Such programmes aren’t without controversy.

Afterall, should citizenship be for sale? Detractors say no.

Earlier this year in the US, two senators, Dianne Feinstein and Chuck Grassley, introduced a bill to get rid of the EB-5 programme, arguing that it is too flawed to continue.

“It is wrong to have a special pathway to citizenship for the wealthy while millions wait in line for visas,” Feinstein said.

Detractors also argue these programmes unfairly favour the rich and are unattainable for everyone else. They also cite concerns about money laundering, criminal activity and backdoor access to countries that circumvent normal immigration systems.

Indeed, the intersection of large sums of money and international real estate deals is ripe for fraud.

Just this month an FBI Investigation uncovered a $50 million visa fraud operation involving Chinese investors in the EB-5 programme. And in April, the Securities and Exchange Commission brought charges against a man in Idaho who they say spent Chinese investor’s money on new homes, cars and a zip line for himself rather than the real estate projects it was meant for.

The St. Kitts and Nevis programme ran into trouble with the US Treasury Department when suspected Iranian operatives were caught using their St. Kitts passports to launder money for banks in Tehran in violation of US Sanctions.

In a world where borders are closing, demand for these services will most likely continue to grow
Controversy surrounding the US EB-5 programme reached the upper echelons of the White House as the Kushner family’s real estate company was accused of conflicts of interest for using Presidential son-in-law and senior advisor Jared Kushner’s name in a pitch to lure Chinese investments in a New Jersey property development. And the programme’s reputation for shady deals is not going away.

But in a world where borders are closing, demand for these services will most likely continue to grow, experts say.

Paul William’s advice for UK Citizenswho are anxious about Brexit? Hold tight.

‘Things are uncertain, but they can’t do anything about it now since they are still European residents,” he says. “In two years time, if the UK does end up with the same access to the EU as America, say, then a lot of people will be wanting to do something.”

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April 15, 2021
April 15, 2021

In the age of automation, algorithms and artificial intelligence, Cognizant has elected Lisbon as one of the best 21 places to work in the future
Over the last years, Cognizant has released multiple reports describing what jobs of the future will consist of. Within the age of automation, algorithms and artificial intelligence, a lot of new positions are coming up, and there are places in the world most likely to shelter them.

The American technology consultant company has recently elected 21 places around the world considered to be hotbeds of innovation, as well as affordable and enjoyable places to live in.

Lisbon was one of the cities recognized as a must-live aspirational tech innovator. Not only the Portuguese start-up ecosystem has been growing sharply, turning Lisbon into one of the biggest start-up hubs in Europe, as it is also easy to have access to private capital in the country, which is an important concern for investors and entrepreneurs. Foreign investment is booming in Lisbon and it tends to continue in this direction.

2020 was a year where we learned we could work from almost anywhere in the world and have the same, or even better performance. Portugal has become a magnet for the growing era of talented digital nomads since last year. Proof of that is the election of Portugal as the perfect hotspot for digital nomads.