News Local World Citizenship Council defends Hotel Citizenship platform

World Citizenship Council defends Hotel Citizenship platform

The World Citizenship Council on Monday defended the Hotel citizenship platform describing an Insider report as “an attack” on the startups for the Citizenship By Investment (CBI) industry.

“The Hotel Citizenship platform initially launched as a test phase, aimed at attracting hotel investments for CBI industry,” it said in a statement.

“The platform introduced a decentralised hotel ownership concept so that citizenship investors can buy a hotel room, share or entire hotel ownership in luxury five star hotels with the citizenship perk,” it added.

The reaction by the non-profit startup came after Insider had reported that Cyprus hotels were listed on HotelCitizenship.com but without the consent of their owners who warned of legal action.

A total of seven properties in the districts of Famagusta, Larnaca and Limassol were on the HotelCitizenship.com list. Among them Radisson Blu in Larnaca and City of Dreams integrated casino resort in Limassol.

However, after the intervention of concerned companies it seems that Cypriot projects listed on the website were removed late on Friday, while remaining ones are there but with no names.

The report also said that there is a question of infringement of general rules in the promotion of naturalisation through investment projects in Cyprus.

And all this while Cyprus is under strong criticism over its controversial citizenship by investment scheme, the report also said.

 

Read more:

https://in-cyprus.com/cyprus-citizenship-thorough-investment-in-hotels-but-without-owners-consent/

 

 

 

 

 

 

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