Cyprus watchdog raps cash-for-passport process


  • World
  • Thursday, 24 Sep 2020

NICOSIA (Reuters) - Cyprus's audit office said on Thursday thousands of passports could have been granted without proper authorisation under the island's citizenship-for-investment scheme - a programme critics fear could be used by money-launderers and other criminals.

For a minimum 2 million euro investment, Cyprus gives passports that guarantee visa-free travel through the European Union, which it joined in 2004.

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