Business Development

Cyprus ditches ‘golden passport’ scheme

Cyprus has announced it will abolish a controversial passport scheme following an investigation by Al Jazeera that revealed how high-ranking politicians were willing to issue passports to convicted criminals. The interior and finance ministries said in a statement posted in Greek on Twitter that the citizenship through investment programme in its current form will be abolished from November 1. “The...

August property sales weaken

Following successive monthly falls of 80% in April, 71% in May, 10% in June and 8% in July, Cyprus property sales in August fell by 5% according to official figures published by the Department of Lands and Surveys. During August a total of 561 property sales contracts were deposited at Land Registry offices across the island compared to the 588 deposited in August last year. But on a positive, the rate...

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