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Why Cyprus Is Attractive For High New Worth Investor Immigrants

admin — Sun, 17 May 2020 10:18:55 +0000

The Lay of the Land

In the world of so-called global citizens, one of the key considerations is to have a second passport. The saying goes that you had no choice about where you were born, but you can certainly choose where you are going to live. This is particularly so when it comes to high net worth individuals. That category breaks down into: billionaires, centa-millionaires ($ 100 M+), ultra high net worth individuals (30M+) and high net worth individuals (1M+). The Covid-19 pandemic is putting a squeeze on the lower category, which consists of about 18 million individuals. But the real action is to be found in the higher categories, consisting of over 200,000 individuals that may be interested in a second passport.

For such individuals, one of the premier destinations is Cyprus. Among the key reasons are: a great climate, beautiful countryside with ocean views, a stable government, a good economy and proximity to major markets. Cyprus boasts a well handled response to the Covid-19 pandemic in that it had few infections, was in good economic shape going into the crisis and will emerge relatively unscathed. Economically, the country is run based on English common law, is business friendly, is open to foreign investment and has a low tax regime. Post pandemic items related to quality of life in terms of health care and education score high marks in Cyprus.

Benefits of Cyprus

In terms of benefits, the Cypriot second passport program is the only fast track citizenship by investment program in Europe. The investor and family members are able to travel, work and live anywhere in Europe without even residing in Cyprus to obtain or maintain citizenship. Dual citizenship is allowed, and applicants can get the passport within about six months. The passport is open to applicants from all nationalities and provides visa-free travel to 171 countries, including the Schengen countries, Canada, United Kingdom, Australia, Singapore and Hong Kong but not the United States.

Investment Requirements

To obtain citizenship in Cyprus the would-be immigrant must invest at least €2,150,000. The most popular route is to invest €2 million in residential real estate for five years and pay €150,000 which is used by the government for low cost housing and research. One other requirement is that the investor must maintain at least €500,000 in real estate in Cyprus for the rest of his life, so that at the end of five years, only €1,500,000 can be rebated. If the investor is interested in investing more money, another part of the program enables investment in Cypriot companies or various projects, but this would require an additional investment of €500,000. The country budgets for 700 investor immigrant applications per year, but those who may file late will simply be processed in the following year, so it should not be a source of concern.

Attractive Aspects

Some of the more attractive aspects of the program are that a Cypriot Permanent Resident card is issued shortly after an application is filed while the investor is waiting for the second passport, the main applicant, spouse and dependent children below the age of 28 are eligible to obtain citizenship, and even elderly parents above 65 can also apply for citizenship as dependents. Also, English is broadly used in Cyprus.

Taxation Concerns Needless

One of the concerns that will be on the mind of some investor immigrants in the post-pandemic world is whether the target country may have accumulated a lot of debt because of expansionary fiscal policies employed during the crisis, and how this could play out in post-pandemic increases in taxes to pay off the indebtedness. This question was recently posed to Harris Georgiades, the former Minister of Finance of Cyprus. He responded by saying Cyprus was fortunate in terms of its pre-pandemic economic policy which left the country economically strong going into the crisis. That meant that the country did not have to engage in much economic self-defence through deficit spending and therefore there will be no tax increases or predatory tax measures introduced in the years ahead.

Past Problems Largely Resolved

More generally, while Cyprus is indeed very peaceful and stable today, it is a country that is made up of Turkish and Greek descendants and to this day is still a chess piece in a dispute over sovereignty of the northern part of the island that Turkey claims. Still, it is not expected that this will have any serious impact on life on the island any time soon. During the 2012-2013 Cypriot Financial Crisis, Cyprus re-capitalised the Bank of Cyprus and Cyprus Popular Bank (Laiki Bank) through a bail-in of depositors by converting bonds and deposits in excess of €100,000 into shares in the two banks. Investors incurred losses as a result. However, the lessons were learned by the Cyprus government and Mr. Georgiades indicated they will not be repeated.

Conclusion

All things considered, for those who can afford the investment required, Cyprus appears to be an excellent choice.

Source: https://www.forbes.com/sites/andyjsemotiuk/2020/05/28/why-cyprus-is-attractive-for-high-new-worth-investor-immigrants/?fbclid=IwAR1Ht-VIfqJoGd99HybT1MOg5XiBy2nxsaP0UMph5Lq1wR0M3ix-ZNNG1Pg#19eb21763c44

E-commerce Trends 2023

admin — Sun, 17 May 2020 10:18:55 +0000

The e-commerce industry is growing at a rapid pace and it has become an integral part of our lives.

The eCommerce business and industry is growing faster than any other sector in the world. There are more than 2 billion internet users globally, with the number expected to increase by 30% over the next five years. With this growth, online retailers will account for more than 35% of all retail sales by 2025.

One of the biggest reasons that people are turning to eCommerce is because of the convenience and flexibility it offers. Whether you’re a business owner or consumer, having access to products from anywhere in the world can be a game-changer.

For businesses, it makes sense to have an online presence because it allows them to reach more customers who may not live close to their brick-and-mortar stores. Plus, eCommerce platforms give businesses the ability to connect with customers on a personal level, providing them with more information about what they like and dislike about their products. This can be beneficial for both sides since it helps brands better understand their customers and how they want to interact with them in the future.

How will eCommerce shape in 2023?

Here’s a look at some e-commerce trends that will take shape in the remaining part of 2023:

AI Integration.

Artificial Intelligence or AI is one of the main factors that has played a significant role in making e-commerce easier. This technology has also helped to improve the customer experience. In addition to this, it helps businesses to increase sales by providing personalised recommendations and recommendations based on preferences.

Personalisation.

Personalisation is another key trend that has gained popularity among online shoppers in recent years. With this trend, businesses provide customers with customised experiences according to their preferences. These include product recommendations, website layout, and even service delivery options like home delivery services or store pick-up options.

VR/AR E-Commerce.

Virtual reality (VR) is an immersive experience created by computer technology that simulates a user’s presence in an environment different from their physical surroundings (Wikipedia). Augmented reality (AR) overlays digital information onto the real world, which can be viewed through a smartphone or tablet screen. The two technologies have been used together to create augmented virtual reality (AVR), where digital objects are added to the user’s environment through AVR glasses or headsets (YouTube).

Keep track of industry influencers and publications.

The rise of e-commerce has also been accompanied by the growth of new media outlets that cover the business. These range from blogs such as this one to podcasts and even videos. The trick is finding out what works best for you, your audience and your business goals.

Use predictive analytics tools to monitor customer purchasing behaviour.

This will help you identify patterns in what customers buy so that you can tailor your product offerings accordingly. It will also give you insight into buyer behaviour so that you can improve customer service based on what people need and want.

More companies will offer free shipping as standard.

Free shipping has always been an effective way for retailers to attract customers online, but as competition heats up among online retailers, more companies are offering free shipping as a standard feature on their websites.

Enhance Customer Experience.

As consumers become more demanding, brands have been forced to up their game when it comes to customer service. This means providing better experiences across all channels and ensuring that your customers can reach out whenever they need help or advice with any aspect of their shopping experience.

Customers respond to video.

Video has been a growing trend in e-commerce for years, and it will only continue to grow. With the rise of live streaming and social media, customers now expect brands to be more personal and provide more content. E-commerce sites are starting to follow suit by offering their own live streams or weekly videos that showcase product lines or coupon codes.

As with any trend, there are risks associated with this one. The biggest risk is that customers may feel as though they’re being “sold” to rather than being offered a genuine conversation with the brand. To avoid this issue, brands need to focus on providing real value for their customers by offering helpful information about products or services instead of simply using video as a sales tool.

Sustainability is becoming more important.

As the world becomes more aware of the impact we are having on our environment, sustainable practices will become increasingly important for major e-commerce brands. Consumers want to know that their favourite brands are doing what they can to reduce their carbon footprint and support sustainable business practices. This trend will also influence how e-commerce companies source their products and materials.

ISTOTOPOS is here to help you keep up with eCommerce 2023 trends

ISTOTOPOS is a leading digital marketing and eCommerce web design company in Cyprus. We help businesses grow by leveraging the power of technology. We are a team of highly-skilled industry experts, who love to create innovative solutions.

Here are some of the ways we can help you keep up with eCommerce 2023 trends:

We will help you understand what makes your customers tick and how to reach them.
We will provide you with a personalised plan that is customised to your business needs and goals.
We will focus on building a strong online presence using our expertise in SEO, PPC and other Digital Marketing Services
Our team would work closely with your team so that they can leverage our experience and expertise.

Conclusion

The eCommerce market is only growing larger every year, and there are countless trends that will be key in the coming years. Fashion eCommerce products sites will become even more common due to their versatility of these sites. Content will continue to dominate this space, facilitated by augmented reality and virtual reality. Social commerce will also continue to expand as more users adopt sharing platforms. If you’re looking for an industry that’s continually evolving, eCommerce is a smart choice for business owners.

Source: https://www.digiwhiz.com.au/blogs/e-commerce-trends