Cyprus Golden Visa Safe and Effective, Minister of the Interior Says
/The Cyprus Golden Visa program has been criticized by many EU countries. However, as assured by Nicos Nouris, Minister of the Interior, the Government of Cyprus has improved security and administration of citizenship by investment. That is, the security of the program has been increased.
“The candidates are carefully vetted when they apply, and the providers for the candidates are also vetted. Once candidates are approved, their conduct as residents in Cyprus is reviewed each year for 10 years, and if they break our laws or engage in other undesirable activities, the passport can be revoked,” said Nouris.
The application of anti-money laundering legislation is an important addition. “This is a law approved by the EU and implemented by banks.”
As for the applicants' representatives, they are checked by the Ministry of Internal Affairs every year.
Cyprus has decided to expand its investment opportunities and now offers not only real estate investments. Investors are also considered for initiatives "that develop young companies, high-tech, the stock market, and other businesses." As conceived by the government, the Golden Visa will raise funds to support innovation in the country.
