Cyprus' Golden Visa programme has been rocked by a major scandal, with four individuals facing charges over allegations of a 'cash-for-passports' scheme. The programme, designed to attract foreign investment and boost the island nation's economy, has been accused of being vulnerable to corruption and money laundering. According to reports, the suspects allegedly sold Cypriot citizenship to wealthy applicants in exchange for significant sums of money, bypassing the usual residency requirements and background checks. The charges come as Cyprus struggles to maintain its reputation as a reliable destination for foreign investment and as a member of the European Union.
Four charged over Cyprus ‘cash-for-passports’ scheme Al Jazeera
