Nicosia 18 Sep (ANA) - The Cyprus government has raised more than £3.5 billion (€4 billion) since 2013 - when the scheme was introduced - by handing out citizenship to the extremely wealthy in exchange for cash investments. More than 400 passports, giving applicants the right to live and work within the European Union (EU), have been handed out through the scheme last year alone. A list of names who have benefitted from the scheme which include high-profile businessmen and women and individuals who wield political influence, has been leaked to The Guardian. The list includes the founders of Ukraine’s largest commercial bank, a former member of Russia’s parliament and a gambling billionaire. The so-called “golden visa” scheme has raised questions about the security checks carried out by Cyprus on applicants. European politicians have been watching the scheme with some concern, with some saying the schemes undermine the concept of citizenship. Ana Gomes, a Portuguese MEP, described “golden visas” as “absolutely immoral and perverse”. She said: “I’m not against individual member states granting citizenship or residence to someone who would make a very special contribution to the country, be it in arts or science, or even in investment. But granting, not selling,”(ANA)

FA/ANA/18 September 2017------