Reports from the Inquiry Committee and the Audit Office have exposed discrepancies between promised investments and their actual locations, as well as instances of individuals concealing their wanted status to obtain citizenship illegally. The government recently revoked the citizenship of six investors who had acquired it unlawfully.
The CIP, which allowed foreign nationals to acquire Cypriot citizenship by investing more than €2.5 million in the country, was abolished in 2020 following an undercover investigation by Al Jazeera. The exposé revealed indications of corruption and approval of citizenships for international criminals and fugitives, drawing criticism from the European Union and sparking protests within Cyprus.
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Moustafa Daly is the Head of Digital at IMI, based in Cairo.
Source link : https://www.imidaily.com/europe/cyprus-to-probe-100-cases-involving-problematic-citizenship-investors/
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Publish date : 2024-05-30 12:06:46
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