As the crackdown on attracting property buyers and other investors in exchange for their naturalization as Cypriot-European citizens ended last November (around 1,400 applications are pending), land developers are now turning to making the most of their existing Accommodation, through investments exclusively in the real estate sector.
And in order to maximize the expected benefits of obtaining permanent residence permits for third-country nationals, to compensate for the losses from the end of naturalization, they are calling on the state to modify – relax the program, in a way that inevitably comes to mind. in the economic criteria of the robber memory of the Cyprus Investment Program.
SEE ALSO: Large Development Associations and Land Development Entrepreneurs Call for PRP Improvement
In a joint statement yesterday, the Association of Large Developments and the Pancyprian Association of Land Development & Construction Entrepreneurs announced that they had sent a letter to the Ministers of Foreign Affairs and Interior, requesting amendments to the Residence Plan in Cyprus (PRP) in order to by foreigners who will buy real estate of a certain value.
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