The United Kingdom officially left the European Union on January 31, 2020, with the Brexit transition period lasting until December 31, 2020. During this period, the UK is still considered a member of the EU. Given the current situation, it is highly likely that the Brexit transition period will be extended.
Currently, both parties have agreed to hold multiple rounds of video bilateral negotiations in the coming weeks, striving to reach a future relationship agreement before June. According to relevant regulations, if the UK and the EU fail to reach a trade agreement during the "Brexit" transition period and the transition period is not extended, both parties will revert to conducting trade under the WorldWay Organization framework. To ensure both parties have sufficient time to reach an agreement, extending the "Brexit" transition period is an option. The UK's exit treaty includes the option to extend the transition period for up to two years, allowing the UK to maintain its position in the EU single market and customs union until the end of 2022.
This means that the deadline for EU member state citizens to apply for residency in the UK may be the end of 2022! Applicants intending to enter the UK through the Cyprus EU passport route should act quickly.
It can be said that now is the best time for investors to apply for the Cyprus European passport. Recently, the Cyprus Investment Citizenship Program has received significant positive developments. The Cyprus government plans to expedite the approval of backlogged immigration applications; additionally, the government will speed up the immigration application approval process, with the hope of obtaining EU citizenship within six months, initiating zero landing applications; at the same time, it may lift the restriction on the 700 immigration application quota for 2020; and relax the limitations on political figures applying for Cyprus immigration, among other measures.
For those wishing to move to the UK, quickly obtaining EU citizenship before the transition period ends can be considered the best springboard for a roundabout move to the UK.
The extension of the UK's Brexit transition period and the acceleration of Cyprus immigration application approvals
The time difference created
Is an investment opportunity
The best time is always now
The Cyprus route to the UK enters the "final sprint" period
Now is the right time to apply for a Cyprus EU passport
Currently, through the Cyprus Investment Citizenship Program, investors can purchase Cyprus real estate starting from €2 million (whether one property or multiple properties) and donate €150,000, allowing three generations of the family to apply for a Cyprus passport. At the same time, investors can also apply for immigration to Cyprus by purchasing, establishing, or participating in investments in Cyprus enterprises. For example, the Limassol Golf Resort project introduced by WorldWay is an equity investment immigration project applicable for those purchasing, establishing, or participating in investments in Cyprus enterprises. By investing €2 million to subscribe to the equity of this project, while also purchasing Cyprus real estate starting from €500,000 and donating €150,000, the entire family can apply for a Cyprus passport.
WorldWay Group, ranked among the top 500 Asian brands, has maintained good interaction with the Cyprus government for many years. In 2011, it was one of the first to introduce the Cyprus permanent residency and special citizenship program to China, starting an exciting journey of European investment immigration; in 2014, the "Paphos Night" events in Beijing and Shanghai were investment and cultural exchange activities themed around European cities in China.
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