News Local Kenyan billionaire to fully support mandated Cypriot passport audit process

Kenyan billionaire to fully support mandated Cypriot passport audit process

Kenyan billionaire Humphrey Kariuki Ndegwa who is among 26 individuals the Cyprus government targets to strip of citizenship following financial fraud speculation in the press on Friday said he would fully support the mandated process.

“Recently, the Government of Cyprus has made the decision to review all passports issued under the Cyprus Investment Scheme before 2018… While I understand that my passport is part of this audit process, having been granted before 2018, I have no doubt that my application fully complied with the regulatory requirements,” he said in a statement.

“As a law-abiding global citizen, I will fully support the mandated process in Cyprus with any requirements or further information needed to undertake the review swiftly,” he added.

Ndegwa is accused of tax evasion in his country.

Cyprus could strip more foreigners of citizenship amid questions over whether they should have been issued ‘golden passports’ under the controversial investment programme.

The Interior Ministry is currently investigating all investors who were granted Cypriot citizenship before 2018, when tougher eligibility criteria were put in place.

A Cypriot passport appeals especially to wealthy, third-country nationals because holders become European Union citizens and can work and travel freely within the 28-country bloc.

In the meantime, the necessary preparations are underway on the content of letters that will be sent to individuals from whom the Cypriot citizenship will be stripped. The letters will basically inform that the process has been initiated. Each one will be different and based on the circumstances on which the revocation takes place.

It seems that in many cases there will be an objection from concerned parties, both at the level of a special committee tasked with the review of complaints, and, at a later stage, before the island’s judicial authorities.

Because, among those whose Cypriot citizenship will be revoked even from persons who were on sanctions lists months ago but have been taken out of them.

Final decrees making the revocations official will be issued after concerned individuals have responded to the sent letters or after the competent committee reviews their objection.

 

Read more:

https://in-cyprus.com/kenyan-billionaire-with-cypriot-passport-challenges-countrys-law-on-dual-citizenship/

 

 

 

 

 

 

 

 

 

 

Top Stories

Nicosia welcomes S&P’s affirmation of Cyprus’ “BBB-” credit rating

Finance Minister Constantinos Petrides on Saturday welcomed the affirmation by Standard & Poor’s international credit agency of Cyprus’ credit rating to "BBB-". It also...

Air France flight made emergency landing in Bulgaria over disruptive passenger

An Air France flight en route from Paris to New Delhi made an emergency landing at Sofia Airport in Bulgaria on Friday at about 5 p.m....

Italian prosecutor seeks life sentences for US students accused of killing

An Italian prosecutor on Saturday demanded life sentences for two young Americans being tried on murder charges after a policeman was killed following a...

Israeli Energy Minister in Cyprus on Monday to sign energy project MoU

Israel’s Energy Minister Yuval Steinitz will be in Cyprus on Monday to sign a memorandum of understanding between Cyprus, Greece and Israel for EuroAsia...

Protest outside CyBC over ‘El Diablo’ – this year’s Eurovision song entry

Protesters on Saturday gathered outside the Cyprus Broadcasting Corporation (CyBC) in Nicosia demanding that El Diablo - the ‘diabolical’ song chosen to represent Cyprus...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...