The Government of the Republic of Cyprus has announced its decision to speed up the processing of ongoing applications for the Cyprus Investment Program. This adjustment will reduce the processing time significantly in an aim to boost the Cypriot economy in the wake of the ongoing coronavirus pandemic.
Further proposals and suggestions which will increase the efficiency of the program:
1) Increased Credibility
Several ideas have been submitted to the Cypriot President to further improve the credibility of the program. One main idea put forward is for developers to work alongside legal firms so as to have regulated lawyers involved in the process. This would ensure the smooth and swift processing of legal documentation while giving the applicant peace of mind that a highly creditable source is handling the application alongside the developer.
2) Further Proposed Updates to the Cyprus Investment Program
The Cyprus Government is now considering removing the cap on applications. As it stands the program only allows 700 naturalisations a year, however, this may soon change.
Another development is the adaptation of the program due to the pandemic. The Cyprus Government is now considering a procedure for remote applications to be submitted for the program. This will allow investors who are unable to leave their country of residence due to any restrictions, to still be able to apply to the program.
3) Potential extension of the UK leaving the EU
The speeding up of applications, the ability to apply remotely and the possible extension of the UK leaving the EU, presents a timely opportunity to high net worth individuals to participate in the Cyprus Investment Program.
A Unique Opportunity
For those interested in this unique opportunity but are possibly facing reservations regarding investments and construction of property in Cyprus, it is noteworthy to keep in mind the following:
The island of Cyprus continues to successfully manage the coronavirus pandemic so as to limit the effects on all main sectors of its economy, including the Real Estate and Development sectors. Due to the quick and decisive measures taken by the Government, Cyprus is now enjoying the benefits of businesses reopening and developments beginning to take shape once more.
The successful actions and sacrifices of the Cypriot people have not gone unnoticed, as Cyprus now ranks within the top 40 safest countries in the world and as the 14th safest country in Europe regarding the pandemic. The high standard of health and safety on the island is allowing Cyprus to prepare for the summer season that in turn will strengthen its economy. By efficiently handling the pandemic, Cyprus is now able to kick-start its economy ensuring a safe haven for people, businesses, investments and developments.
Trust the Experts: Why Y. Argyrides & Associates LLC should be your choice when it comes to acquiring Cypriot Citizenship
Y. Argyrides & Associates LLC features an established track of record in offering focused and comprehensive legal solutions to discerning high net worth individuals from across the world.
The firm boasts a deep and long-standing involvement in Cyprus’ Investment Program both in terms of the actual establishment and operation of the program on the island, as well as regrading assisting individuals to benefit from it.
The firm’s team is very experienced in handling applications for the Cyprus Investment Program. They go beyond the standard protocols, offering individually tailored and personalised service for each unique client, ensuring a smooth process of obtaining a Cyprus passport.
With a wide portfolio featuring a variety of different investment opportunities on the island and a comprehensive experience surrounding the application process for the acquisition of either citizenship or permanent residency permit on the island, Y. Argyrides & Associates LLC is the go-to firm for total peace of mind.
Our experienced team is eager to provide you with proven, trouble-free Investment & Citizenship services for you and your loved ones. We would be glad to disclose more information as well as offer our assistance. Feel free to get in touch with us by sending us an email at [email protected].