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Termination of the Cyprus Citizenship Scheme

Termination of the Cyprus Citizenship Scheme

On the 13th October 2020 the Council of Ministers has decided to proceed with the Termination of the Cyprus Citizenship Scheme, citing reasons of weakness into the review and due diligence system and various loopholes which potential investors took advantage of.

The above decision shall come into force as of the 1st November 2020.

Any additional details on this shall be announced as they are issued by the Cyprus Government.

For any further guidance regarding this procedure or if you require an initial consultation, please do not hesitate to contact our Law Firm at info@vrikislegal.com, , +357 22 251 777 or +357 25 261 777 or please visit our office in Nicosia or Limassol.