Published at: 17/08/2020 09:00 am
cyprus citizenship cyprus citizenship changes cyprus citizenship by investment
The Cypriot legislators changed and amended some requirements of the citizenship by investment scheme. They can faster revoke citizenships if needed, and some of the additional costs increased.
First of all, to fulfil the security and due diligence processes, the Cypriot government eased the process to revoke the citizenships and passports from those applicants, who are non-compliant with moral standards.
Reasons to revoke the Cypriot citizenships from investors, among others:
Moreover, the citizens can lose their citizenship for reasons of public interest (ethic nastiness/moral turpitude/opprobrious conduct). The Prosecutor General's Office announced that this term means fraud, theft, deception or crimes of a sexual nature.
However, those applicants for citizenship through investment who held office in other countries may apply after one year instead of the previous five years period. Summarising, the most important amendments serve to fulfil the more and more stricken European due diligence requirements.
Let's take a look at the list of the other most significant changes of Cyprus' citizenship by investment scheme!