Property investment must shed passports scandal
© FinancialMirror 2021
Interior Minister Nicos Nouris urged land development companies to avoid advertisements that connect real estate to gaining Cypriot citizenship or residency. He said acquiring a European passport should only occur when the person has links to that Member State and is not based solely on investments. The Minister, who addressed Tuesday’s 15th Land Development Conference in Nicosia, said the government intends to respect this EU position fully. Cyprus scrapped its lucrative passports for investment scheme last November after allegations of corruption and money laundering. Nouris said that when the...
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