Cyprus to revoke passports of foreign investors

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Cyprus to revoke passports of foreign investors
 © CyprusPropertyNews 2021
NICOSIA is set to revoke Cyprus passports from at least 26 suspect investors as soon as the House of Representatives passes a law on tighter controls approved by cabinet earlier this week.

The cabinet on Wednesday approved tougher rules for its tarnished citizenship for investment scheme by tying it to anti-money laundering legislation.

The law amendment gives authorities the right to revoke citizenship, which is retrospective for up to 10 years, allowing them to re-evaluate whether naturalized foreign investors violated provisions included in the new legislation.

The decision to revoke...


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This article was automatically added to our system 28-6-2020

Cyprus to revoke passports of foreign investors


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