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Tag: second passport

Cyprus to strip 26 people of citizenship acquired under investment programme

Cyprus is to strip 26 people of their golden passports acquired under an investment scheme after “mistakes” were made, Interior Minister Constantinos Petrides announced on Thursday. Petrides, who spoke to reporters after a Cabinet meeting, did not disclose the names or nationalities of those concerned but said that they included people cited in recent media reports. The small Mediterranean island has had a citizenship for investment scheme since 2013 allowing wealthy non-European individuals to get a foothold in the European…

Boris Johnson: Beyond Brexit, what’s in the new PM’s in-tray?

Brexit is THE priority of Boris Johnson’s government. The new prime minister has just 99 days until the UK leaves the EU, and he faces an uphill task to secure a new deal. But it’s not the only demand on Mr Johnson’s time. One criticism of Theresa May’s time in Number 10 is that other important decisions that affected the future of the UK were put on hold because Brexit became all-consuming. But these nagging priorities have not gone away. So…

Malta IIP Passes €1bn in Revenue, Has Turned Down €250m Due to High Rejection Rates

Malta’s Office of the Regulator of the Individual Investor Programme (ORiip) today published its fifth annual report on the country’s citizenship by investment program. All told, the MIIP has now raised more than one billion euros since inception and could have made at least €250 more, were it not for its exceptionally high rates of rejection. Application volume cooling off The MIIP raised a total of €260,575,430 between July 1st, 2017 and June 30th, 2018. The lion’s share – north of €162 million…

Brexit and Investment Migration to the UK

The UK continues to be an attractive destination for high-net-worth individuals. The state’s practice of welcoming talent and investment from overseas has led to the creation of a diverse and culturally rich society which appeals to those seeking not only tax efficiency, but political stability, excellent educational opportunities and the benefits that flow from the UK’s tradition of upholding the rule of law. The UK’s immigration policy is, however, in a state of flux. This emanates, most notably, from the…