The Association of Large Developments sent a request to the President of the Republic of Cyprus about the extension period.
As the Association states in its letter, for the applicants who have submitted their applications for the Cyprus Investment Program until October and will not be able to submit the various documents. They should be allowed to complete the application by the end of 2020, meaning that their sales documents will be stamped before November 01, 2020.
The Association of Great Developments, pointing out the significant contribution and contribution of the Cyprus Investment Program to our country's economy, emphasizes the need for a new Investment Program that will be shielded with strict criteria and safeguards to avoid mistakes and omissions.
It also underlines that removing the program from 1 to November on the Cabinet decision creates a massive gap in the local economy with very negative consequences, particularly in this period when our economy ravaged by the pandemic COVID-19.