Speaking to Economy Today, the Minister of Finance explained how the Cyprus Investment Program will be ended, which was decided to end at today's extraordinary session of the Council of Ministers.
Konstantinos Petridis stated that although further explanations will be made public in the coming days on how to stop KEP, applications for naturalization through the Cyprus Investment Program will be accepted until November 1, when it will cease to operate, while examination of all applications submitted up to that date, based on the applicable regulations governing the "Naturalization Plan".
The Minister of Finance, when asked by Economy Today about the possible termination of any projects due to the termination of the Cyprus Investment Program, replied that he had not heard of any cancellation of ongoing constructions that had begun due to the Naturalization Plan.
Asked to answer for the next day of a new Naturalization Plan, Konstantinos Petridis replied that it is too early to discuss this, stating that "We will see more calmly the next day at a later time".
It is noted that at the end of the current Council of Ministers, the Government Spokesman has announced the termination of the present Cyprus Investment Program.
Kyriakos Kousios has announced that the Program will officially end on November 1, 2020, in the wake of the latest publications of the Al Jazeera news agency.
Source: Economy Today