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It was announced today that Cyprus is suspending the Cyprus Investment Programme in its current form. Suspension will take effect from the 1st of November 2020.
It was announced today that Cyprus is suspending the Cyprus
Investment Programme in its current form. Suspension will take
effect from the 1st of November 2020. The Council of Ministers
approved the suspension of the programme after a proposal from the
Ministry of Interior and the Ministry of Finance.
The reasons for the suspension of the programme have to do with
the existence of certain weaknesses of the programme and the fact
that certain provisions of the programme have been abused. It
remains to be seen whether the programme will be replaced by a new
programme which addresses the weaknesses of the current scheme.
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