26 Cypriot Law Firms Investigated For CIP-Related Compliance Violations: Five Already Found Guilty
The Cyprus Bar Association said it had found many instances of inadequate KYC/AML procedures and had already collected EUR 200,000 in fines.
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cyprus
Cyprus Has Revoked 222 CBI-Origin Citizenships – So Far
The fallout from Cyprus’ citizenship by investment scandal continues: 222 individuals have seen their citizenships revoked so far.
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A History of Citizenship by Investment – Infographic (May 2022 Update)
40 years have passed since countries first began selling citizenships. See our timeline of the history of citizenship by investment programs.
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Proud Advisor to A “New CIP Launching in the Coming Months”: 10 on The Weekend – Karl Haddad
Karl Haddad is incensed about venal Cypriot officials, kept busy all day by his newborn child, and finds solace in the poetry of The Prophet.
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Cyprus Approves Only 27.6% of Applications Pending Since CIP Termination
Despite the Commission’s protestations, Cyprus kept processing applications pending since the CIP’s termination – but rejected most of them.
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Cyprus to Revoke Another 45 Citizenships Obtained by Investment: Further Revocations Expected
In the wake of last year’s scandal, Cyprus aims to revoke 45 citizenships. Investors will get no refunds but will retain their properties.
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The Investment Value of Buy-to-Let Property in Limassol
An excellent climate (not only for doing business), a top-notch lifestyle proposition, a great buy-to-let value: Welcome to Limassol.
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A Summary of Investigations, Reports, and Legal Actions on Cyprus CIP So Far
As a 780-page report on the inquiry concludes more than half of naturalizations were illegal, Ahmad Abbas summarizes the Cyprus CIP debacle so far.
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Eur. Commission Makes Next Legal Move in Malta, Cyprus Infringement Procedures
The European Commission has sent a “Reasoned Opinion” to Cyprus and an “additional letter of formal notice” to Malta.
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Cyprus Prosecutor Opens Criminal Investigation of Unnamed CBI-Advisors
The accused reportedly face 37 distinct charges, based on the findings of a specialized government panel tasked with investigating the now-defunct program.
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US State Dept. Human Rights Report Flags Five CIPs for Transparency Concerns
The report noted shortcomings in transparency (and the potential or actualized corruption that such opacity engenders) among five CIPs.
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Reform for Cyprus’ Permanent Residency Program: New Investment Options
Applicants to the Cyprus Permanent Residency program now have more investment options than ever, writes Eleni Drakou.
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“Jho Low Was Never a Client”: Henley & Partners Respond to OCCRP Report
Henley & Partners says Jho Low was never their client. The Investment Migration Council says that an internal review is underway.
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Cyprus, Be Careful Not to Throw the Baby out With the Bathwater
Though poorly managed and structured, the CIP was a boon to the Cypriot economy. Michel de Martigny and David Lesperance offer a recipe for how to build back better.
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Closure of Cyprus CIP “a Great Travesty”: 10 on the Weekend – Steven Pepa
Steven Pepa, who admires Mohammed Asaria, believes matching investor migrants with private equity funds can make the latter more humane.
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Google’s Ex-CEO Becomes Cypriot Through Citizenship by Investment Program
Nuri Katz: “Schmidt cannot travel to Europe. He’s like everybody else — like a lot of other high-net-worth people who want to have options.”
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Applications Worth EUR 1.5 Billion Pending For Cyprus CIP Following Last-Minute Deluge of Filings
In the 18 days between the suspension-announcement and the deadline, Cyprus’ CIP received an additional 105 citizenship applications.
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As Cyprus’ CIP Officially Closes, Ministry Says No Deadline Extensions
As the Cypriot program comes to an end, hundreds of applications remain outstanding.
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Kochenov: Commission Would Likely Be “Humiliated” If CIP-Matter Goes to Court Over “Genuine Links”
MUST-READ: Prof Kochenov delivers a scathing rebuke of the Commission’s infringement action: “Unquestionably ultra vires and absolutely unacceptable.”
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How CBI-Specific Investment Assets Can Create a Moral Hazard Situation
To reduce the room for government officials to trade favors, let CBI-applicants invest in open markets, write Petrov, Shoylev, and Bekyarova.
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