Presenting the budget of his ministry to the finance committee of the House of Representatives, Cypriot Interior Minister Nikos Nuris said that the government approved only 390 applications from foreign investors submitted before the completion of the Cyprus Citizenship for Investment program. At the same time, about 1,023 applications for investment citizenship were rejected. So for now Montenegrin citizenship is the only option for those who seek European passports by investments. And this offer doesnt last long. Montenegrin Citizenship by Investment program is about to close i the end of the year. You may still get your Montenegrin passport but hurry up!
Statistics on the results of the Cyprus program
According to the official, until July 31, 2021, he sent to the Cabinet of Ministers 1,413 applications submitted as part of the program for granting citizenship for investments, which stopped accepting new applicants on October 31, 2020. Of these, 390 were approved, and about 1,023 were rejected. A total of 691 petitions were filed by investors, and 722 by members of their family.
Brussels believes that Cyprus and Malta have not fulfilled their obligations to create and operate citizenship schemes for investors, which involve issuing a passport in exchange for predetermined payments and investments.
In 2020, Cyprus abandoned the golden passport scheme after a scandalous Al Jazeera documentary. Since 2007, this program has brought the republic more than €7 billion.
Montenegrin citizenship
Note that many clients of Apex Capital Partners have already received Montenegrin passports under the investment citizenship program. Thus, they received privileges to travel around the EU, even at a time when the borders are not yet open to everyone.
Montenegro does not approve dual citizenship. An exception was made only for participants of the investment citizenship program. If you go through a residence permit (for opening a company and so on), upon obtaining Montenegrin citizenship, you will be forced to refuse other citizenship. Are you ready to do this? None of those whom we advised is ready. Please, read our article with Q&A about Montenegrin CIP.
