Cyprus: No ‘golden passport’ to people rejected before
14 Feb 2019

AP — Cyprus has strengthened the eligibility rules for a lucrative “golden passport” program that grants the document to wealthy foreign investors, ruling out applicants who already were turned down by another European Union country with a similar policy, a government official said Wednesday.

The EU issued a report last month warning Cyprus and other countries to beef up background checks before awarding the passports because of concerns non-citizens were acquiring them to launder money and flout tax laws.

The EU report came after Cyprus came under criticism for running a “passports-for-cash” scheme, a charge that Cypriot officials strongly denied.

Link to AP

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