CYPRUS ADMITS ITS GOLDEN VISA SCHEME WAS MISUSED
November 1st, 2019
Cypriot interior minister, Constantinos Petrides, has admitted that the country’s golden visa scheme has been misused by corrupt individuals and said that Cyprus will revoke the passports of 26 people who received them at the time “when controls weren't strict”. Cyprus introduced a citizenship for investment plan in 2013, under which a minimum EUR2 million (USD2.2 million) investment secured a passport and visa-free travel throughout the European Union. But the golden visa scheme has been rocked by scandal since a Reuters investigation revealed at the end ...
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