Planning for naturalization in Cyprus

On May 21, the latest news from Cyprus is that the government will adjust the Citizenship by Investment Act, and policy tightening is urgent!

1. Starting from 2018, applications for the Citizenship by Investment Program will be limited to 700 quotas per year;

2. The overall approval process will be changed from the original 3 months to 6 months;< /p>

3. Increase due diligence for each application, and the applicant shall bear the corresponding costs;

4. Investors who obtain status through house purchase should maintain investment for at least 3 years and obtain income from real estate. The calculation begins on the date of the building permit.

The biggest reason why the government made this adjustment is the increase and continued increase in the number of applicants. Wealth tycoons all over the world are very fond of the Cyprus passport. In addition to its unique travel convenience, Cyprus’s preferential tax policy is also a favorite among wealthy people from all over the world.