Cyprus passports sold out until 2020
Published at: 02/12/2019 04:04 pm
New applications for the Cypriot passport and citizenship will be considered only in 2021 because the limit of requests for both 2019 and 2020 has already been met.
Recently, the Cypriot authorities rechecked all previous and successful applicants and enforced a more strict due diligence process for the new candidates for the naturalisation through investment. However, still, a large number of applicants are waiting to obtain the citizenship of Cyprus. In Cyprus, according to the law, only 700 foreign investors can get naturalisation certificates per year.
in 2019, the 700 investors already are in the final stages of obtaining the citizenship in Cyprus, and according to the information of the Kathimerini it seems that for 2020 the 700 applications exceeded as well.
Currently, the applications from October 2019 onwards will be considered only by 2021.
Meanwhile, the cabinet set up a three-member committee to investigate the former processes through the citizenship by investment program. The three members are "Accountant General and the President of ADELEP Reas Georgiou, the Chairman of the Cyprus Securities and Exchange Commission, Demetrios Katerlou according to the decision of the Public Prosecutor Costas Clerides".
However, they have not initiated any proceedings yet. Even more, neither the Ministry of Foreign Affairs nor the Committee did not adopt methods to check the naturalised investors.
The Ministry of Foreign Affairs rejected 56 from the 2,700 applications since 2013 according to the data provided by the House of Representatives.
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