Cyprus scraps 'golden passport' investment scheme after Al Jazeera exposes scandal

Greek Cypriotauthorities announced the scrapping of its “golden passports” scheme for foreign investors after anAl Jazeeradocumentary exposed how it was being used by wanted criminals from around the world.Cypriot government spokesperson, Kyriakos Koushos, said that the cabinet had agreed an emergency meeting to cancel the scheme next month, as proposed by the finance and interior ministers.The ministers’ proposal was based on “long-standing weaknesses, violation and exploitation of the terms of the investment programme”, Kouchos said.The scheme, which achieved some 7 billion euros, is expecte…

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