Increasing the speed of citizenship applications: The Cypriot citizenship-by-investment program

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Expediting applications to boost the economy

 

The Cypriot Government has decided to speed up the processing of ongoing passport applications, through the citizenship by-investment program. Many analysts expect the processing time to reduce significantly before the end of the year.

 

This has been done to boost its economy in light of the ongoing effects of coronavirus pandemic. This is part of several measures taken by the Government to combat the negative economic effects of this pandemic

 

This is where we can help you. We understand the concerns that you have about the security of your investments.  Our experts are available to address any queries or questions that you may have.

 

Increasing the credibility of the passport program. Developers will no longer assist with citizenship applications

 

Last week, the daily Politis, a three-member advisory panel, sent several ideas for increasing the credibility of this program to the Cypriot President.

The panel suggested the new regulation for brokers and passport providers. The developers and not regulated lawyers will no longer be allowed to assist with citizenship and residency applications. Cyrpiot law firms such as Astons's assocciates in Cyprus will remain only authorised agents to submit and prepare such applications.

 

Transition period between EU (Cyprus) and the UK may be extended. Cyprus citizens can still live and work in the UK. 

 

The UK has left the EU. However, until 31 December 2020, it must continue to obey EU rules and regulations during the transition period. The British Prime Minister Boris Johnson has stated that the UK will leave the EU by the end of 2020. However, because of the Coronavirus emergency there is both sides of negotiations are undergoing mounting pressure to extend the transition period.

 

The extension of the transition period is good news for  Cyprus citizens interested in moving to the UK with European passports. It gives investors more time to apply for citizenship in EU countries and legally move to the UK as EU citizens. Cyprus offers the most valuable Citizenship by Investment program, and has committed to fast-tracking all citizenship applications during coronavirus pandemic.  Astons is uniquely positioned as UK and Cyprus based law firm to assist with both Cyprus and UK residency applications for their clients.

 

Limit on Cyprus citizenships applications may be removed

 

According to Cyprus Mail Cypriot government is considering to remove 700 naturalizations per year limit on Cyprus citizenship by investment applications this year.

 

Remote application procedure may be introduced due to Covid-19 emergency

 

According to Cyprus Mail Cypriot government is considering to introduce procedure of remote citizenship application submission. This is a great news for investor, who are not able to leave their countries of residency due to Coronavirus emergency. Astons legal team suggests to start preparing the application well in advance, so our Cyprus office can submit your application now and get the passport in just 6 months.

 

Next steps: How we can help you

 

If you are interested in getting your EU citizenship in just 6 months - contact us to start the process, our dedicated Cyprus citizenship team will be delighted to answer all your questions. For Cyprus citizenship enquiries please contact us at kk@astons.com and +44 207 292 2977

 

Astons is a leading global immigration advisory firm with offices in London, Beijing, Moscow, Dubai and Limassol (Republic of Cyprus) and offers residency & citizenship investment solutions worldwide including UKTurkeyVanuatuEU & the Caribbean.

 

For further information or to discuss your personal circumstances in a private consultation, please contact Astons at info@astons.com or call +44 207 292 2977