Naturalization again because of the coronavirus

In the coming months, the acceleration of the naturalization process is expected in an attempt to restore the Cyprus economy.

The issue of remote submission and consideration of the entire package of documents may be considered. For the period of Cyprus quarantine, officials will continue to review applications and documents of candidates and their families.

In addition, from April 1 to May 31, VAT will be reduced to 17%.

Although the government claims that the Cyprus economy is not very dependent on naturalization, the decision seems to be investing heavily in this sector, which mainly contributes to the development of the construction sector.

Indeed, according to relevant data, only 1.2% of GDP is associated with the naturalization program. Since 2013, about 6.6 billion Euros have been pumped into the economy through the Cyprus passport concession scheme.

Revenues from the program are very important for Cyprus in eliminating the effects of coronavirus.

RELUX ESTATES - THE OFFICIAL PROVIDER ACCREDITED BY THE MINISTRY OF FINANCE OF CYPRUS.

The company’s specialists will be happy to answer all your questions and help in choosing objects for obtaining citizenship by investments.