Updated October 10, 2018
The Cypriot Investment Scheme will only receive 700 applications every year and other conditions on the re-sale of the invested asset were put in place by the Cypriot Council of Ministers. Processing times of an application have been confirmed at 6 months. Moreover, the provisional approval that used to be granted to investors in the past, approximately 3 months after the submission of the file, has now been canceled.
Investors are hereby advised to expect delays in processing their files that could go up-to 8 months.
ACIC Inc has successfully compiled a statistic on the Cyprus Citizenship by Investment programme whereby all cases submitted in 2016 received the Permanent Residencies and Immigration Permits in less than 10 working days, the Citizenship application approval letter in less than 70 working days and the certificates of naturalization in exactly 6 months from the date of Permanent Residence status issuance.
