eprivateclient

Cyprus to scrap current citizenship by investment scheme

News Team, 15/10/2020

The Cypriot Government has said it will scrap its current citizenship by investment scheme, effective November 1.

This follows Al Jazeera releasing footage from an undercover journalist showing House president Demetris Syllouris and Akel MP Christakis Giovanis appearing to aid in the investment application of a Chinese businessman with a criminal record.

Those involved deny any wrongdoing, but the Cypriot Government will now “fully examine its policy to encourage investment” after a full investigation, having already banned cash payments in 2014.

Since it was launched in 2007, the citizenship by investment...


Continue reading this article...


Start a free trial now for access to breaking news of the regulatory environment and legislative change happening in wealth management.







You are currently not logged in,
login to view the full article
start by clicking this button.





Need a subscription,
fill out the form here or
contact subs@eprivateclient.com


About PAM

PAM Insight is the world’s leading independent provider of essential specialist news, analysis and comparative data for the fast-evolving world of wealth management.

Read more about PAM

Subscribers

eprivateclient is the leading website and news service for private client practitioners, including lawyers, accountants, trustees and fee-based IFAs.

Read more