AP: Cyprus "golden passports” to be revoked if wrongdoing discovered

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AP: Cyprus "golden passports” to be revoked if wrongdoing discoveredPassport revocations will happen once an ongoing investigation confirms that specific investors had breached eligibility rules

AP reports from Nicosia that Cyprus’ president is pledging to revoke any passports that were “mistakenly” granted to wealthy investors who were found to have committed wrongdoing.

President Nicos Anastasiades admits “errors” may have been made in granting such “golden passports” under an earlier, less-strict version of a lucrative investment program.

He noted on Monday there could be “perhaps 10-15” such instances of investors whom vetting had vailed to identify as ineligible.

Cypriot government spokesman Prodromos Prodromou said roughly 4,000 passports have been issued to investors since the program began after a 2013 financial crisis.

Read more at thenationalherald.com

RELATED TOPICS: GreeceGreek tourism newsTourism in GreeceGreek islandsHotels in GreeceTravel to GreeceGreek destinationsGreek travel marketGreek tourism statisticsGreek tourism report

Photo Source: Wikimedia Commons License: CC-BY-SA Copyright: Jon Rawlinson

 

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