Benefits of passport investment scheme is ‘indirect’

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Benefits of passport investment scheme is...
 © CyprusMail 2017
The government does not directly receive any cash from the citizenship-through-investment scheme, the finance minister said on Monday.

“The state does not collect a single euro. The benefit is an indirect one, and has to do with invigorating the economy through a series of investments in various sectors,” Harris Georgiades told MPs.

The passport scheme is a “useful tool” and the government intends to keep it in place, the minister said, amid reports that the European Commission was none too happy with Cyprus ‘giving away’ passports.

Georgiades said reports that 1100 passports...


Benefits of passport investment scheme is ‘indirect’


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