CITIZENSHIP BY INVESTMENT BLOG

Breaking News: Cyprus Citizenship Program Ending Now

October 2020: The Cyprus citizenship by investment program is coming to an abrupt halt.

According to an article published by "The Cyprus Mail" newspaper on October 13, 2020, the CBI program will be scrapped effective November 01 of this year – meaning in only two weeks’ time.

The reason for the Cyprus government taking such a drastic step are recent allegations of abuse whereby Cyprus passports were allegedly granted to several high-risk applicants who would not have qualified under stricter application standards.

Cyprus Passport Program Ending
What does this mean for bona-fide applicants caught up in these sweeping changes?

Applicants who have already started the CBI process should urgently confer with their assigned immigration attorneys to determine if it is still possible to file by the end of the month.

Prospective applicants who have not yet started the CBI process are unlikely to be able to gather all required documentation prior to the November 01 deadline and might want to consider the alternative option of applying for citizenship (the EU passport) under the new Malta citizenship by investment program.

Similar to the previous Individual Investor Program (IIP), which reached its quota in July, the new Malta Naturalisation for Exceptional Services by Direct Investment Regulation will require an investment starting from approximately EUR 600,000 by the main applicant. The new program is expected to launch this month.

Should you be interested to discuss Malta citizenship by investment please don’t hesitate to contact us by email, phone, Skype or WhatsApp. We appreciate the opportunity to be of service.

Source: Cyprus Mail

Because immigration by investment programs can change over time please contact us to speak with an advisor or to receive a preliminary quotation. The information provided in this blog post is intended for educational and informational purposes only. It should not be construed as legal or financial advice.

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