EU to launch infringement procedures against Cyprus, Malta over "golden passports"

[Paphos Life]

The European Commission on Tuesday will finalize and launch infringement procedures against Cyprus and Malta in relation to their controversial "Golden passport" schemes.The schemes used to grant investors EU citizenship, Vice President Maros Sefcovic told journalists in Brussels....

Read the article and chat about it below...

[clive of payia]

Nothing serious will be done about this as the EU is desperate to keep both Cyprus & Malta on-side for in the future they may find the USA/UK/NZ/Aus trading arrangment more to their liking. Cyprus would of course hold a Referendum to join this alternative group, an improvement for the citizens of Cyprus who, with the fiddling of Morgan Stanley, were taken into the EU and euro without the peoples consent.

[WHL]

Nothing serious will be done about this as the EU is desperate to keep both Cyprus & Malta on-side for in the future they may find the USA/UK/NZ/Aus trading arrangment more to their liking. Cyprus would of course hold a Referendum to join this alternative group, an improvement for the citizens of Cyprus who, with the fiddling of Morgan Stanley, were taken into the EU and euro without the peoples consent.

What a load of B******X

[Dominic]

Have to agree.

[Jimgward]

Portugal offers passports for as little as a €500,000 house purchase!

[WHL]

Portugal offers passports for as little as a €500,000 house purchase!

Investor residency schemes are available in 19 member states, plus the United Kingdom.

Those states are: Bulgaria, Czech Republic, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania and Slovakia.


https://www.euronews.com/2020/10/20/buy ... -they-work

Personally I dont have a problem with country's offering Passports, providing the person is not a criminal etc, it brings much needed cash into the economy,

[Kili01]

But as now seems apparent Cyprus isn't so particular about such wealthy persons criminal backgrounds.. a point which the EU is so concerned about. With good reason, its fortunate that Cyprus isn't a member of the Schengen area. The whole Golden Passport scheme lends itself to corruption and money laundering with all the attendant risks. All this adverse publicity does Cyprus's International financial and banking reputation no good.
Dee

[Devil]

All this adverse publicity does Cyprus's International financial and banking reputation no good.

As you sow, so shall you reap.

[Kili01]

No one has mentioned the nationality of the applicants for this type of passport. Criminals are of all nationalities...

Dee

[Kili01]

Hi HIC,
I agree with most of your thoughts, but not your remark about Cyprus not needing to beat it self up over the events captured by Al jezeera. Most reasonable people are appalled not just in Cyprus, but internationally, about the level of corruption reaching to the President of the House. They put enough pressure on the two top people directly involved to force them to resign from public office.. Assisting people with criminal records to get Golden Passports Is rightly concerning to the EU.
Dee

[WHL]

Hi HIC,
I agree with most of your thoughts, but not your remark about Cyprus not needing to beat it self up over the events captured by Al jezeera. Most reasonable people are appalled not just in Cyprus, but internationally, about the level of corruption reaching to the President of the House. They put enough pressure on the two top people directly involved to force them to resign from public office.. Assisting people with criminal records to get Golden Passports Is rightly concerning to the EU.
Dee

When they start going after every country with the same Zeal, as they do with little country's like Cyprus and Malta, then we might take their concern regards corruption more seriously, It was the same when they clobbered little Cyprus over their Banking system, yet turned a blind eye to other countries like Liechtenstein, because Germans had their money stashed there. No if you want to clean up corruption one rule should aply to every member, but we all know this will never happen.

[Kili01]

Well, the Al Jazeera video went viral and provided prima facie evidence of the people who were involved in this particular Golden Passport scheme. In fact it was all so clearly portrayed in the video it couldn't be denied. Usually they would have wriggled out of it and the court, if it cam to trial would probably find that there was insufficient evidence to prosecute.
I'm sure that most people who have seen this video In other countries would have formed the same opinion. Those concerned in this illegal money making scheme deserve to be punished.No wonder the EU wants to ban Cyprus from Issuing any more of these passports for cash.At present one of the things which the UK Govt has stated they will do post Brexit is to prevent undesirable criminals who have managed to obtain a new Golden Passport valid for the EU countries, but who have a known criminal background, from entering the UK.

Dee

[WHL]

Well, the Al Jazeera video went viral and provided prima facie evidence of the people who were involved in this particular Golden Passport scheme. In fact it was all so clearly portrayed in the video it couldn't be denied. Usually they would have wriggled out of it and the court, if it cam to trial would probably find that there was insufficient evidence to prosecute.
I'm sure that most people who have seen this video In other countries would have formed the same opinion. Those concerned in this illegal money making scheme deserve to be punished.No wonder the EU wants to ban Cyprus from Issuing any more of these passports for cash.At present one of the things which the UK Govt has stated they will do post Brexit is to prevent undesirable criminals who have managed to obtain a new Golden Passport valid for the EU countries, but who have a known criminal background, from entering the UK.

Dee

I think the UK has enough criminals involved with corruption of her own, without worrying about others from the EU

[jeba]

When they start going after every country with the same Zeal, as they do with little country's like Cyprus and Malta, then we might take their concern regards corruption more seriously, It was the same when they clobbered little Cyprus over their Banking system, yet turned a blind eye to other countries like Liechtenstein, because Germans had their money stashed there. No if you want to clean up corruption one rule should aply to every member, but we all know this will never happen.

Liechtenstein isn´t part of the EU, so what do you expect the EU to do?

[jeba]

Seems the Attorney General has a problem with the Auditor Generals involvement in the investigation of the golden passport program. Not sure what to make of it.
https://in-cyprus.philenews.com/stay-ou ... s-auditor/

[WHL]

When they start going after every country with the same Zeal, as they do with little country's like Cyprus and Malta, then we might take their concern regards corruption more seriously, It was the same when they clobbered little Cyprus over their Banking system, yet turned a blind eye to other countries like Liechtenstein, because Germans had their money stashed there. No if you want to clean up corruption one rule should aply to every member, but we all know this will never happen.

Liechtenstein isn´t part of the EU, so what do you expect the EU to do?

No it isnt but it is full of dodgy German money,
but the Germans are not going to investigate their own , when they can clobber Little Cyprus.

[Kili01]

WHL, I fail to understand your seeming mind set that 'poor little Cyprus is being targeted by the EU over their Golden Passport Scheme. How much more evidence of corruption do you require to convince you that certain officials in very high ranking appointments were in it?
Not to mention the various job descriptions of the other persons who were complicit in finding certain wealthy individuals of dubious background, some of them with a criminal past who were fast tracked by this syndicate with little or no scrutiny of their backgrounds or criminal connections. Are are you simply stirring?

Dee

[jeba]

No it isnt but it is full of dodgy German money,
but the Germans are not going to investigate their own , when they can clobber Little Cyprus.

Because it seems Cyprus is giving out EU-passports to criminals which gives them e. g. the right to take up residence in Germany?

[WHL]

No it isnt but it is full of dodgy German money,
but the Germans are not going to investigate their own , when they can clobber Little Cyprus.

Because it seems Cyprus is giving out EU-passports to criminals which gives them e. g. the right to take up residence in Germany?

Please, the Germans had their dodgy money in Liechtenstein, way before Cyprus was even in the EU

[WHL]

WHL, I fail to understand your seeming mind set that 'poor little Cyprus is being targeted by the EU over their Golden Passport Scheme. How much more evidence of corruption do you require to convince you that certain officials in very high ranking appointments were in it?
Not to mention the various job descriptions of the other persons who were complicit in finding certain wealthy individuals of dubious background, some of them with a criminal past who were fast tracked by this syndicate with little or no scrutiny of their backgrounds or criminal connections. Are are you simply stirring?

Dee

You fail to see what I am saying because,
it seems you only think that corruption only happens here in Cyprus , try seeing the bigger picture, corruption happens on much larger scale in the UK, Germany, and many other EU countrys, Germans launder millions and millions in Liechtenstein, but the easiest thing is to go after the little guys, they then can say the EU is doing something, I wont hold my breath waiting for you to admit that corruption is rife through out europe ..