This year, both domestic foreign exchange controls and their enforcement have become increasingly stringent. This not only significantly impacts cross-border transactions and mergers and acquisitions by Chinese enterprises but also imposes restrictions on individual investors' overseas investments due to scrutiny over foreign exchange quotas, purposes, and fund flows. As foreign exchange controls tighten, some overseas property investment immigration projects, such as the Cyprus property investment immigration and Portugal property investment immigration, have gained popularity among investors for allowing direct purchases with UnionPay cards domestically.
However, under the current tightening of foreign exchange controls, the channel for overseas property investment immigration to use UnionPay cards domestically is also about to face closure.
According to reports, the International UnionPay has officially notified in writing that transactions involving real estate or investment using UnionPay cards outside of China will officially close on June 1, 2017. Additionally, it has been confirmed that the Cyprus property investment immigration project will also close its domestic card purchase channel on June 1, 2017. This means that after June 1, it will no longer be possible to directly purchase Cyprus properties using UnionPay cards domestically. Cyprus is not the first country to close its domestic card purchase channel for properties. This also sends a signal: as China's foreign exchange regulation tightens, it will become increasingly difficult to bypass foreign exchange controls for overseas investments.
Currently, it is very simple to immigrate to Cyprus through WorldWay Immigration. By investing 2 million euros in real estate, one can quickly apply for citizenship and become a citizen of the European Union, enjoying the benefits of EU citizenship. WorldWay offers high-quality property options, luxury seaside villas, and estate land for investors to choose from, allowing for investment in overseas properties while also becoming an EU citizen and enjoying the generous benefits of the EU.
WorldWay Immigration experts remind that in the context of tightening foreign exchange controls, investors looking to invest in Cyprus properties should seize this last 40-day opportunity to invest early and gain peace of mind.
For more immigration details, please consult the WorldWay Immigration Group hotline: 400-9626-886.