I'm an investor looking to get residency via investment in Cyprus, but I'm a bit concerned about the fate of the program following the alleged involvement of the Cypriot president in the Pandora Papers controversy. Last year, Cyprus suspended its CBI program following a media report. What should investors expect now?
The Cyprus residency relates only to Cyprus territory and, therefore, does not affect the European Union since Cyprus is not part of the Schengen treaty. Therefore, having a Cyprus residency allows you only to travel to Cyprus and that is regulated by domestic laws and does not affect travelling within the European Union.
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