Cyprus’s government has announced the suspension of its Golden Visa programme, which will be put on an end on November 1 indefinitely. This decision comes after an investigation report by Al Jazeera ‘The Cyprus Papers’, which demonstrate that many politicians gave the visa residence to non-EU citizens with criminal record 

 According to this report, thirty persons who benefit from the Golden were accused of illegal action, whereas 40 of them are politically exposed. Other people who bought the Golden Visa programme are involved in money laundering, corruption and other criminal activities.  

 For its part, on April last year, members of the European Union criticized Cyprus, but also Bulgaria and Malta for its investment programmes and urged their abolition. 

 However, business leaders in Cyprus have asked the Greek cabinet to reinstate the Golden Visa programme in order to maintain the island’s economy. 

 The Greek Golden Visa programme was launched in 2013 and during all this period has raised €7.000 million.    

 Orience International by your side 

To face and avoid these types of crimes, which are penalized and also mean that the international investor cannot get the residence visa and start a new life with her/his family in another country, Orience International stands by your side, offering and end-to-end service 

 What does this mean?  That we help you before, during and after obtaining the residence or citizenship programme. We study each costumer situation and, depending on it, we offer the programme that best fits their needs. We prepare all the necessary documentation and tell the particularities of each one.   

 Our multidisciplinary team, with experts and lawyers specialized in different sectors of law, provide a quality and competitive service and they guarantee a transparent and secure transaction. Moreover, we analyze, advice and supervise all the operations. 

 We also help you to present the documentation to the competent authorities and once you have received the visa, we stand by your side offering the best relocation services for you and your family (schools, rental car, languages lessons, etc.). 

Contact us

 

Source: https://www.schengenvisainfo.com/news/cyprus-to-suspend-golden-visa-scheme-amid-accusations-of-its-criminalization/