RBS expert commented on the Cyprus Citizenship by Investment program suspension.
The Cyprus Citizenship by Investment program is on hold.
Starting on the 1st of November, the Cyprus government shuts down “The Golden Passport” program, which allowed for Russian citizens to acquire Cyprus citizenship in exchange for their investments.
Our expert Pavel Rusetsky, Head of Practice in the RBS Legal Division, explained to RBC reporter the consequences of the program suspension. Pavel also emphasized that although the “Golden Passport” cancellation does not apply to those who already applied for citizenship, it is important to pay attention to the actions pursued by the Cyprus Government in order to fight corruption.
Read more on the RBC website.