Category Archives: Cyprus

Cyprus Cancels Golden Passport Scheme Favored by Wealthy Russians

The government will ditch the controversial citizenship-for-investment program after yet another scandal. Cyprus will cancel its controversial golden passport scheme, a government spokesperson said Tuesday in a surprise announcement. The citizenship-for-investment program had attracted thousands of wealthy investors who received Cyrpiot passports in exchange for multi-million euro investments into the economy of the Mediterraneam island, which is an EU member. 

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