Worldway Group has learned that the European Commission held its first meeting with stakeholders of EU passport and golden visa programs on May 16. Numerous immigration agencies and industry experts shared their views with the European Commission, marking the first formal dialogue between representatives of the investment immigration industry and EU regulators. The specific outcomes of the meeting are pending further announcement.
Worldway experts state that the European Commission has now placed the phasing out of EU-wide passport and golden visa programs on its agenda and has officially convened a discussion meeting. This indicates that the internal movement within the EU to reform investment residency and citizenship programs is gaining momentum, which also means that the threshold for future EU investment immigration policies may be significantly raised.
In fact, in recent years, the European Commission has taken significant actions regarding EU passport programs. Since 2018, it has conducted multiple investigations into "golden visas" and required member states to strengthen the vetting of applicants' backgrounds and sources of funds. At the end of March this year, the European Parliament passed the TAX3 report on halting "golden visas," confirming that EU permanent residency programs and EU citizenship investment programs are among those targeted for suspension. On February 14, 2019, Cyprus amended its visa regulations, significantly raising the threshold for citizenship applications, which officially took effect on May 15, 2019.
Since the announcement of the new Cypriot investment citizenship policy, investors have been scrambling to catch the last train of the old policy, which led to a peak in applications this May for the already highly popular Cyprus EU passport program. The implementation of the new policy also means that the Cyprus passport will enter a completely new phase. Currently, the tightening trend of the Cyprus investment citizenship program continues; investors who are hesitant or waiting should seize the opportunity.
In recent years, more and more Chinese investors have chosen to develop in Cyprus. On one hand, this island nation has a beautiful environment suitable for living; on the other hand, Cypriot citizenship allows investors to travel freely in Europe and seize investment opportunities in a timely manner. As is well known, the high-value Cyprus investment program has always attracted the attention of global investors due to its advantages, such as obtaining an EU passport in one step. Investors only need to invest from 2 million euros in real estate to have three generations of their family apply for and quickly obtain a Cyprus EU passport. As an EU member state, after obtaining its passport, you can not only enjoy visa-free access to more than 150 countries and regions, but also move, work, and reside freely in any of the 28 EU member states you desire (including the UK, Germany, Austria, Italy, France, Finland, etc.), as well as the 3 member states of the European Economic Area (Norway, Iceland, Liechtenstein) and Switzerland—a total of 32 European countries—while enjoying the generous benefits of EU citizenship!
As a top 500 Asian brand and a leading institution in the investment immigration industry, Worldway Group, as a pioneer in Cyprus investment immigration, has always been at the forefront of the industry in promoting Cyprus passport immigration: in 2011, it was one of the first to introduce the Cyprus permanent residency and naturalization program to China, starting a wonderful journey of European investment immigration; in 2014, the "Paphos Night" events in Beijing and Shanghai were the first investment and cultural exchange events in China themed around a European city.
To apply for a Cyprus EU passport, choose the formal, professional Worldway Group, which has excellent government relations, to make your path to Europe easier! Consultation hotline: 400-138-2929.
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