Jane Katkova & Associates. Global Mobility Solutions. Your Speedy Gateway To The World CITIZENSHIP BY INVESTMENT CYPRUS

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Eleanore Montgomery
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1 Your Speedy Gateway To The World CITIZENSHIP BY INVESTMENT CYPRUS

presents Citizenship-by-Investment Program by the government of CYPRUS Strategically located at the crossroads of Europe, Asia, and Africa, Cyprus offers much promise and opportunity to its investors.

The investment landscape in Cyprus is beneficial due to the island s low tax business environment, skilled and English-speaking professionals, and excellent infrastructure.

2 presents Citizenship-by-Investment Program by the government of CYPRUS Strategically located at the crossroads of Europe, Asia, and Africa, Cyprus offers much promise and opportunity to its investors. Best prospects lie in the energy, shipping, services, and high technology sectors. The investment landscape in Cyprus is beneficial due to the island s low tax business environment, skilled and English-speaking professionals, and excellent infrastructure. Cyprus competitive, free-market, service-based economy offers international investors and businesses confidence to invest, grow and prosper. LEGAL BASIS Cyprus Citizenship by Investment is available to investors pursuant to the "Scheme for Naturalization of Investors in Cyprus by Exception" on the basis of Section 111A (2) of the Civil Registry Laws of , based on a Council of Ministers decision dated 19th March TO QUALIFY for citizenship in Cyprus, applicants need to fulfill the requirements outlined in the Investment Requirements section, in addition to the following criteria: Be of outstanding character; Hold no criminal record; Have excellent health; Present documents supporting the source and origin of the declared funds for investment; Investor s name must not be included on the list of persons whose property is ordered to be frozen by the EU; Visit Cyprus at least once upon approval.

3 PROGRAM BENEFITS WHY CHOOSE CYPRUS? The Cypriot passport is very well regarded and has excellent reputation providing its holders the following prime benefits: Fastest Citizenship program in the world, allowing the direct path to citizenship within 3-4 months; Citizenship for Primary and Spouse in 3 months. Dependent's within 4 to 6 weeks after. (Current Program will be closing in first half of 2016); No physical residence requirements during or after the application procedure (the only requirement is for one visit every 7 years); No language requirements for residence or citizenship; Dependent children under 28 years qualify for citizenship on the basis of their parents applications; Visa-free travel to over 150 countries, including Canada, UK, Switzerland and Schengen Zone (see Appendix A); No obligation to relinquish current nationality; Citizenship and Passport holder of Cyprus can live and work within EU countries immediately after receiving the Citizenship as a European Citizen; Dependent children of applicant (up to age 28) can study as local EU citizens anywhere in EU; Right to own property in an EU member state; Low crime rate, excellent education system with a number of high standard schools and universities and first-rate healthcare; An outstanding holiday destination with at least 320 days of sunshine a year; Tax heaven: (i) No dividend tax on world-wide income for non-domiciled tax residents. (ii) Cyprus has no inheritance tax and the lowest rate of corporate income tax in Europe (iii) Upon obtaining citizenship of the Republic of Cyprus no new or additional tax liabilities arise for the investor unless the investor opts to become a Cyprus tax resident, i.e. to spend 183 days in Cyprus (or more days than in any other jurisdiction). Cyprus tax residents who are NOT DOMICILED in Cyprus, that means they have not been Cyprus tax residents for 17 years out of last 20, by the July 16, 2015 tax legislation will now NOT BE SUBJECT to taxes on dividends, rental income and bank deposit interest on a worldwide income and income generated in Cyprus. This is indeed REVOLUTIONARY!

CITIZENSHIP-BY-INVESTMENT PROGRAM INVESTMENT

issued by virtue of the Civil Registry Laws,

citizenship by investment need to meet the

privately-owned residence in the Republic of

duration. Main Applicant Investment > 5m (2.

REASONS TO INVEST IN CYPRUS Tax System Human

Regulatory Framework Macroeconomic Prospects

4 CITIZENSHIP-BY-INVESTMENT PROGRAM INVESTMENT REQUIREMENTS According to the Regulations issued by virtue of the Civil Registry Laws, foreign investors who wish to obtain Cypriot citizenship by investment need to meet the following requirements: Must hold a permanent privately-owned residence in the Republic of Cyprus, the purchase price of which must be at least plus applicable VAT and must be fully paid. Must choose one of the prescribed investment options as an individual ( 5 million), or as part of a group ( 2.5 million) and maintain it for the required duration. Main Applicant Investment > 5m (2.5m) Minimum 1 visit Clean Police Record TOP REASONS TO INVEST IN CYPRUS Tax System Human Talent & Level of Services Legal and Regulatory Framework Macroeconomic Prospects & Opportunities Quality of Life Advanced Infrastructure Strategic location EU Member State and Member of the European Monetary Union

5 MOUNT INVESTMENT CINNAMON OPTIONS INVESTMENT PROJECT 1. Government bonds Applicants must make an investment of at least 5 million in Cypriot government bonds. Investors need to maintain the purchased bonds for a period of three years. 2. Financial assets of Cypriot companies or organizations Applicants must make an investment of at least 5 million in qualified financial assets (bonds, securities, debentures, etc.) registered and issued in the Republic of Cyprus of Cypriot companies or organizations. Investors need to maintain the purchased assets for a period of three years. 3. Real estate, land development and infrastructure projects Applicants must make an investment of at least 5 million in the purchase or construction of buildings, land development projects (residential or commercial) or infrastructure projects. 4. Purchase, creation, or participation in Cypriot businesses or companies Applicants must make an investment of at least 5 million in the purchase, creation or participation in businesses or companies that are based and operating in the Republic. These businesses or companies should evidently have a tangible presence in Cyprus and employ at least five Cypriot citizens. It is noted that the mandatory conversion of deposits into shares is included in this criterion. 5. Deposit in a Cypriot bank Applicants choosing this option must have a fixed term deposit of at least 5 million for three years in a Cypriot bank. 6. Mixed investments Applicants must make an investment of at least 5 million in a combination of the above-mentioned options 1-5. Persons whose deposits with the Bank of Cyprus or Popular Bank have been impaired after March 15, 2013 The applicant has incurred an impairment in deposits amounting to a total of at least 3 million. In the case where the applicant has incurred an impairment in his/her deposits under 3 million he/she may apply, having made an additional investment through options 1-5 for the balance of the required amount.

6 MOUNT COLLECTIVE CINNAMON INVESTMENT INVESTMENT OPTIONS PROJECT The Council of Ministers shall have the right on special occasions, to reduce the investment requirement to 2,5 million for investors, who demonstrably participate in a special collective investment scheme, provided that the combined total value of the investment is at least 12,5 million / 5 applicants. The headache-free solution A bundle of residential flats with a minimum total price of 2.5m+VAT at 19%. There is no need to buy an additional mandatory unit at 500,000+VAT with this option. These can be units come complete with the Package i.e. furniture, fittings, appliances, a/c units, cutlery, crockery etc. plus our 3 year headache-free package which covers property management, property taxes, annual utility services connection charges, insurance and a 3 year rental guarantee at 3% p.a. These must be kept for a minimum of 3 years and then 2.0 million worth can be sold, keeping the mandatory 500,000 flat for the duration of the applicant s life. The lifestyle solution A single residential unit with at a minimum price of 2.5m+VAT which if for own use can be eligible for a reduced VAT at 5%. This is suitable for people who might consider to live here or use the property for holidays. There is no need to buy an additional mandatory unit at 500,000+VAT with this option. The capital gain solution The same as above but in projects which offer the possibility of a strong capital gain prospect. With the economy picking up revs a carefully chosen property and project could yield considerable profit for the mandatory 3 year period. The property can be sold after 3 years and a mandatory unit be bought at 500,000+VAT. Other property investments A commercial property or a combination of commercial and residential or other property of a minimum price of 2.5m (+VAT or transfer fees at 4%, if any, pending the property) plus a mandatory residential unit having a minimum price of 500,000+VAT. These (apart from the mandatory residential unit) can be sold after 3 years. The financial product solution (a) Government bonds. This option is no longer available. (b) Bonds or shares in listed or private companies having a price of 2.5m plus 500,000 residential unit as above. (c) Shares in a private company provided this company will be employing at least 5 people for a minimum period of 3 years.

7 MOUNT REAL ESTATE CINNAMON OWNERSHIP INVESTMENT PROJECT Applicant invests and takes ownership of their own properties. The property options in Cyprus that offer buyers the highest value for money include: Seafront properties The areas in highest demand provide lifestyle aspects (i.e. beaches) and infrastructure, which are areas such as Limassol, Pafos, and Ayia Napa; Integrated master planned communities These usually have a golf course or community at their core, offering properties that cater to all types of owners and include locals, new residents, second home owners and vacationers. Properties can be sold after 3 years of receiving citizenship; property valued minimum should be held after the 3 years period and for the lifetime of the Principal Applicant. Applicant can live in or rent their properties after purchase. will assist with selecting properties suitable for the program and representing smart investing options.

FINANCIAL MOUNT CINNAMON DETAILS INVESTMENT PROJECT Amount of investment 5.000.000 or 12.5m/5 applicants The average total fees, including: 1.

A property valued Euro 500,000 is mandatory to keep for the duration of the Principal Applicant's life.

8 FINANCIAL MOUNT CINNAMON DETAILS INVESTMENT PROJECT Amount of investment or 12.5m/5 applicants The average total fees, including: 1. application 2. due diligence *based on the family of four 3. legal Total average cost of the program * Investment exit strategy: Your properties can be sold after a period of three years. A property valued Euro 500,000 is mandatory to keep for the duration of the Principal Applicant's life. ** All application fees charged by the Cypriot government and by are subject to change. The fees depend on the number of applicants an the complexity of the process.

9 STEPS AND TIMELINE The summarized timeline presented below is based on the required process that needs to be followed by all applicants for the Citizenship-by-Investment Program in Cyprus. The table breaks down the process into eight basic steps. STEP 1 All necessary documents must be prepared by the applicant and be properly legalized. 1 month STEP 2 The applicant must select an investment option. STEP 3 All necessary actions must be taken for implementing the investment chosen. STEP 4 Application lodged at the Ministry of Interior. 1 month STEP 5 Naturalization certificate is issued. STEP 6 STEP 7 STEP 8 The main applicant and his/her spouse receive their passports. Submission of the applications for Citizenship of the dependent children. Dependent children receive their certificates of naturalization and passports. 1 month WE GUARANTEE However it may seem that the process of obtaining a second citizenship in Cyprus is a plain sailing it requires high level of focus on the detail, structuring of the investment and legal excellence. and has a wealth of international and local expertise and a high success rate of delivering the grant of second citizenship within the three month timeframe. and provides VIP Service to all our Private Clients. We are working towards meaningful relationships and therefore provide white-gloves services with concierge approach.

10 IMPORTANT FACTS Property bought before December 31, 2016 is exempt from capital gains tax (at 20% on indexed profit) normally payable when selling property. First time housing buyers are exempt from paying the full 19% VAT, the VAT payable is only 5% in these cases. This applies to units having a maximum covered area of 275 sq. m. The buyer needs to keep the unit for his/her own use for at least 10 years. If the unit bought is either rented or sold before the 10 years elapse then VAT in addition to the 5% is paid proportionately for the unexpired term at 1.4% for each remaining year to the 10 year term. Profits on shares and bonds are not taxable. Adult children up to the age of 28 will be granted citizenship after the parents secure theirs within 1-2 months provided they are financially dependent on their parents e.g. Master s Degree students (excludes PhD Programs) or children doing their articles leading to a professional qualification. Their spouses are eligible to citizenship under the rules governing the granting of citizenship to non-cypriots married to a Cypriot and can take up to 5 years. Applicants and their dependents enjoy all rights and have all the obligations of naturally born Cypriots except the obligation to serve in the National Guard (army). Cyprus is the only EU country which offers citizenship in 3 months and this is anticipated to end sometime in first half of 2016 due to EU pressure The Cyprus economy has stopped shrinking and returned to growth from Q The coming gas boom and the possible solution of the Cyprus problem in an EU framework are factors which add to the positive prospects of the economy and may well lead to the beginning of a new boom Good quality properties at a good location are, as a rule, bought off-plan in Cyprus. Hence, and given the requirement of the CY IIP law that investments be carried out prior to approval, we have devised ways through the use of bank guarantees and lawyers client accounts which safeguard our clients and ensure that they pay for their property investments upon approval and in line with the progress of works.

11 APPENDIX A Europe Slovakia Honduras Nepal Albania Slovenia Jamaica Oman Andorra Spain Martinique Philippines Austria Sweden Mexico Singapore Belgium Switzerland Montserrat South Korea Bosnia & Herzegovina Turkey Nicaragua Sri Lanka Bulgaria Ukraine Panama Taiwan Croatia United Kingdom Paraguay Timor Leste Cyprus Vatican City Peru Czech Republic St Barthelemy Oceania Denmark Americas St Kitts & Nevis Australia Estonia Anguilla St Lucia Cook Islands Faroe Islands Antigua & Barbuda St Maarten Micronesia Finland Argentina St Martin Fiji France Aruba St Pierre & Miquelon French Polynesia Germany Bahamas St Vincent Kiribati Greece Barbados Trinidad & Tobago Marshall Islands Guernsey Belize Turks & Caicos Nauru Hungary Bermuda Uruguay New Caledonia Iceland Bolivia Venezuela New Zealand Ireland Brazil Niue Isle Of Man British Virgin Islands Asia Palau Italy Canada Armenia Papua New Guinea Jersey Cayman Islands Bangladesh Samoa Latvia Columbia Brunei Tokelau Liechtenstein Costa Rica Cambodia Tonga Lithuania Curacao Darussalam Tuvalu Luxembourg Chile Georgia Vanuatu Macedonia Dominica Hong Kong Wallis & Futuna Malta Dominican Republic Indonesia Moldova Dutch Caribbean Iraq Monaco Ecuador Israel Some countries require visa Montenegro El Salvador Japan stamped on arrival Netherlands Falkland Islands Jordan Norway French Guiana Kyrgyzstan The list of countries is Poland Greenland Laos subject to variations Portugal Grenada Lebanon depending on each Romania Guadeloupe Macau government s policy and so San Marino Guatemala Malaysia is access to these countries. Serbia Haiti Maldives QUICK FACTS ABOUT CYPRUS A kaleidoscope of cultural and geographical influences, the island country of Cyprus, languishes in the European Mediterranean and attracts wealthy tourists and investors by its gorgeous beaches and favorable economic climate. Excellent capital growth potential; Crime rate is very low in Cyprus, making it one of the safest places in the world to live.; Warm Mediterranean climate that contributes to long life expectancy ; Provides numerous investment opportunities; 98 % literacy rate; Popular tourist destination.

Total Imports by Volume (Gallons per Country)

Total Imports by Volume (Gallons per Country) 1/5/2018 Imports by Volume (Gallons per Country) YTD YTD Country 11/2016 11/2017 % Change 2016 2017 % Change MEXICO 50,994,409 48,959,909 (4.0)% 631,442,105 657,851,150 4.2 % NETHERLANDS 9,378,351 11,903,919