The granting of Cypriot citizenship to foreigners boosted the Cyprus economy by €2 bn as they made investments and bought properties in Cyprus.
During the examination of the audit service report of the Ministry of Interior for 2013, interior minister Socrates Hasikos said the revenues from granting Cypriot citizenship exceeded €2 bn, noting that these funds were a considerable financial injection.
According to Mr. Hasikos, foreigners acquire Cypriot citizenship but have income from abroad.
The minister avoided to give further details on the issue and urged the MPs who wish to learn about the cases of aliens who received Cypriot citizenship to be informed at the Interior Ministry premises.
As he said, the ministry cannot give details due to privacy issues.
“The Republic of Cyprus is under pressure to stop this policy, so we need to keep a low profile”, he said.
Mr. Hasikos confirmed the involvement of law firms to which applicants address to in order to be informed on the procedures intended to ensure the Cypriot citizenship.
During the examination of the audit service report of the Ministry of Interior for 2013, interior minister Socrates Hasikos said the revenues from granting Cypriot citizenship exceeded €2 bn, noting that these funds were a considerable financial injection.
According to Mr. Hasikos, foreigners acquire Cypriot citizenship but have income from abroad.
The minister avoided to give further details on the issue and urged the MPs who wish to learn about the cases of aliens who received Cypriot citizenship to be informed at the Interior Ministry premises.
As he said, the ministry cannot give details due to privacy issues.
“The Republic of Cyprus is under pressure to stop this policy, so we need to keep a low profile”, he said.
Mr. Hasikos confirmed the involvement of law firms to which applicants address to in order to be informed on the procedures intended to ensure the Cypriot citizenship.
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