Cypriot Government Limits Citizenship Investment Programme to 700 Applicants
In May of 2018, it was announced that the Cypriot government had taken a huge step to limit the Cypriot Citizenship Investment Programme to just 700 applications per year as apart of a plan to galvanize the process and make it work more effectively than it had been previously.
With more and more people seeing the benefits and rewards of this program there is sure to be a quick take up of the 700 applicant limit for 2019.
With this in mind, it is imperative for those looking to take up this program to do so quickly and without delay. Astons offer one of the speediest visa routes on the market and has assisted many applicants to achieve their dream of Cypriot citizenship quickly and efficiently by hand-holding our clients through every step of the process.
700 Applicant Limit Likely to Have Been Reached for 2018.
Cyprus naturalised 503 and 510 dependents under the program in 2017, officially the busiest year to date. Although data for 2018 naturalisation has yet to be published, the Interior Minister has sighted that, from January to the beginning of August there were 521 applications to the Citizenship Investment programme, more than the previous year and there was still 5 months remaining.
Speculating that this trend would have continued for rest of the year and with rejections expected at a rate of 15% (worldwide Citizenship Investment Programme rejection rates are from 5% to 25%, with Cyprus being closer to the lower end), there will be no surprise if the number of naturalisations reached or exceeded the annual 700 quotas for 2018. If this does come to pass, and it is likely that it will, it would create a backlog which would be unprecedented for a CIP and is yet another reason to start the ball rolling with citizenship through Aston’s immediately.
With the ever-changing demands, rules, and regulations of the Citizenship Investment programmes, such as the application limit for Cypriot citizenship, Astons is constantly on the pulse, always showing adaptability to navigate the tricky terrain of the visa and citizenship world to deliver stand-out service to all of our clients.
For further information on Cyprus investments or citizenship by investment or to discuss your personal circumstances in a private consultation, please contact Astons at email@example.com or call +44 207 292 2977.