CYPRUS ADMITS ITS GOLDEN VISA SCHEME WAS MISUSED

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 ...


Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.