Cyprus suspends golden passport scheme as sting exposes officials

clock
Cyprus suspends golden passport scheme as sting exposes officials

Cyprus has announced it is suspending its controversial investment-for-citizenship programme following a series of scandals. The scheme is to be stopped on 1 November following an undercover investigation by Al Jazeera revealed government officials waiving through applications from a ficticious Chinese investor and convicted criminals. The European Commission is already mulling legal action to annul such "golden passport" schemes in Cyprus, Malta and Bulgaria. The EC yesterday said it w...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now

 

Already a International Investment member?

Login

Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.