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What happens to my status in Cyprus if I cannot provide sufficient evidence that proves the fulfilled investments by the deadline?

I understand that the Ministry of Finance in Cyprus has extended the deadline of providing proof of fulfilled investments to the end of this February. What if I could not gather the required documents by then? Is there a possibility of applying for another extension?


Answers
  • Aliant Parparinos
    January 13, 2020

    If there is a serious reason that you cannot provide sufficient evidence for the completion and status of your investment under the Cyprus Investment Programme before the deadline, then you will need to inform the relevant Ministries and request for an extension. However it is in the discretion of the Ministry to give you an extension. Similarly, if for any reason you fail to do so, then again, the Ministry reserves the right to reject your application for citizenship.

  • CA Advocates (Pourgoura & Aspri LLC)
    January 14, 2020

    There will be no personal or private exceptions if you can not collect the relevant information.

  • Parparinos & Hadjipanayis LLC
    January 13, 2020

    A citizenship-by-investment application is examined within a period of 12 months from the time of filling. With the filling and amongst other documentation, the applicant must also provide evidence that he/she has concluded the relevant investment(s) in Cyprus as required by the citizenship program, except the 150,000 euros paid as a donation to the government. In lack of such evidence or where the investments have not been yet concluded, the applicant will continue enjoy the status of permanent residency until and when he/she is in position to proceed with the investment prior to filing an application for citizenship.

  • CHRISO SAVVA LLC
    January 10, 2020

    No further extension will be provided. If investors can't provide the required documents on time, passports will be revoked.