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We are getting annoyed
Patience is, we believe, one of the virtues of our firm and we prefer the friendly approach in “siga-siga” country, as opposed to heavy handling of matters. In this article we will refer to two occasions that we seem to have lost our patience with respect to the following.
The situation is very serious we are afraid, since plot values will become personal ones (if one is or not allowed to build), the value of the personal assets will be reduced at least to 1/3rd and the Banks/Co-Ops securities will be reduced drastically in terms of security value.
It is with regret that one decision is taken without clarity and publicity and without an exchange of views.
We have written to Mrs Mavrou (the Minister of Interior) asking for an appointment, after she offered to meet anyone who has a say on this subject through the press – We will see.
The immigration laws regarding permanent residency visa is becoming more and more easy as time passes. In a nutshell:
There is another procedure where one can claim a local Cypriot/E.U. passport, but in addition to the house purchase the applicant needs to have an investment here (in real estate, bank deposits etc) in total of €10 mil. at least.
Because we could not get this decision from the Council of Ministers, we wrote to the secretary of the Council who informed us most politely that, again, that the Ministry of Interior will publish the new parameters which it did 2 days after.
What is interesting is that based on the press reports, permanent residency visa holders can travel in any E.U. country. We found this as being odd and having discussed that with people in the Ministry of the Interior, we were told that this is correct, but doing the same with the Ministry of Exterior the officials there were not sure, adding that it is not up to Cyprus to issue visas for other countries.
We will wait for answers on these issues up to the 30.9.2012 and although we will give some benefit of this inaction due to the summer holidays, we will not wait for ever. We are getting all sorts of enquiries on the subject, especially now that Spain, Malta and Canada have put a hold on this (visa) procedure and Cyprus is becoming a favorite place (yet, we cannot give clear and reliable information).
Are we correct feeling annoyed dear readers?