On April 1, EU member states sent a request for the gradual closure of the Citizenship by Investment program in Malta, Cyprus, and Bulgaria. The head of the Ministry of Internal Affairs of the Republic of Cyprus, Nicos Nouris, said that the Government is not going to abandon the concept of “golden passports”.

The Government of Cyprus has decided to expedite the processing of several ending applications for citizenship by investments in the context of the coronavirus pandemic. This decision was introduced along with a number of fiscal and other measures necessary to keep enterprises afloat and push some liquidity into the market.

In the coming months, the acceleration of the naturalization process is expected to restore the Cyprus economy. Measures established by the government to address the adverse effects of coronavirus include naturalization measures.

On Monday, March 16, the Central Bank of Cyprus (CBC) announced that local lenders could release about 1.3 billion euros in total capital reserves. With the help of this money, the bank is going to help enterprises and individuals in the conditions of economic recession due to coronavirus.

Deputy Minister of Tourism Savvas Perdios said that by 2030, Cyprus is going to get into the top 30 world tourism rating of the United Nations World Tourism Organisation.

In 2019, the number of properties sold in Cyprus exceeded 10,000, reaching the highest level since 2008 (according to statistics from the Department of Land Resources and Research).