While you wait and watch, another country is about to tighten its immigration policy
Act early to avoid regrets
Latest news from Worldway Immigration Group: Recently, upon the proposal of the Cyprus Ministry of Interior and Ministry of Finance, the Cyprus Council of Ministers officially renamed the Cyprus Citizenship by Investment Program to the "Cyprus Investment Program" on May 21. Simultaneously, relevant legislation was amended as follows:
1. Since 2018, the Cyprus Immigration Department has set a quota to accept 700 investment applications;
2. The processing time for submitted applications has been extended to 6 months;
3. Due diligence must be conducted for every application;
4. Applicants investing in real estate must hold the investment for three years from the date of the issuance of the property planning permit.
This means that the highly valuable EU passport may be subject to comprehensive tightening. Based on past experience, many popular immigration programs have progressed from quotas and price increases to eventual closure, such as the Hong Kong Investment Immigration Scheme. Although the authorities have not yet released the specific implementation details of the new Cyprus Investment Program policy, the prospects have caused concern among many investors.
Whether Cyprus will follow the global trend of tightening immigration policies and ultimately close its immigration pathway remains unknown. However, faced with the shifting landscape of the immigration world, the only thing we can do is act early rather than late, so as not to regret missing the best opportunity for processing.
The reason for these adjustments by the Cyprus government is its sheer popularity. Since the opening of the citizenship policy in Cyprus, the number of applicants has continued to rise year after year, peaking after the policy was amended in 2016 to lower the investment threshold to 2 million Euros.
So, why is the Cyprus EU passport so popular?
The reason lies in its exceptional cost-effectiveness, broad range of utility, and high intrinsic value. By investing just 2 million Euros in real estate, one can quickly apply for Cyprus immigration, granting the whole family EU citizenship and achieving both wealth and status security.
Benefits of an EU passport:
1. One investment grants the entire family an EU passport, with visa-free access to more than 150 countries and regions worldwide.
2. 1=31: Holders of a Cyprus passport can freely live, work, and study in any of the 31 European countries (including 27 EU member states such as Germany, Italy, and France, plus Switzerland, Norway, Iceland, and Liechtenstein), and enjoy equal benefits as citizens in the 27 EU countries.
3. Permanent land titles; real estate can be inherited.
4. Pure British-style education system; children can enjoy high-quality education.
5. Favorable tax system; a world-class offshore tax haven.
Today, the Cyprus EU passport program, with all its advantages, is about to limit the number of applicants. Policy tightening is the last thing global investors want to see. As a leading institution in investment immigration, Worldway Immigration Group sincerely advises everyone: when it comes to immigration, you must act early. For more details, please call the Worldway consultation hotline: 400-138-2929.