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Inquiry committee on citizenship by investment to hand over interim report to Attorney General

An inquiry committee appointed to look into a citizenship by investment programme in Cyprus which has since been abolished is set to hand over its interim report to Attorney General George Savvides on Friday, just before noon.

In a tweet on Thursday evening Savvides announced he was informed by the committee’s president Myron Nicolatos that the interim report would be handed over to him today.

Previously, sources had told CNA that the interim report will cover approximately 50% of the citizenship files and will include the committee’s conclusions on low and high-risk citizenships, as well as a number of citizenships granted together as part of a package.
In total the committee is looking into over 3,500 citizenship files which concern over 6,000 citizenships granted.

The four-member committee was sworn in, in September 2020 with a mandate of looking into all citizenships granted between 2007 and 2020 as part of a state scheme to attract investment.

It was asked to investigate whether all laws, criteria and conditions in force at the time had been applied when the citizenships were granted between 2007 and August 17, 2020 with an initial timeline for completing its report of three months.

It is comprised by its president former supreme court president Myron Nicolatos Former Supreme Court judge Costas Pambalis, Deputy Auditor-General Kyriacos Kyriacou and Financial Ombudsman Pavlos Ioannou.


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