The investment plan will return in a new form

Василис Пальмас: инвестиционная программа Кипра вернётся в новом виде
16 October 2020 Liza Medvetskaya
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The Deputy Minister confirmed the rumors and the information floating that the Government will prepare a new investment plan in front of the President, Vassilis Palmas. 

Mr. Palmas said that the Government is indeed considering resuming an investment plan in the future, which, as he said, will include even stricter criteria and safeguards, without gaps and with transparency, to avoid past mistakes. 

He stressed that no process had started yet, but it is a thought made in the Council of Ministers that it should be done at some point. Asked whether this will be done after the investigations into the ongoing scandal, he answered that this had not been determined. However, it is not necessary. He reiterated that the economy had gained a lot from this investment plan, and many people had secured jobs.  Василис Пальмас: инвестиционная программа Кипра вернётся в новом виде

Mr. Palmas stressed that the Government is interested in the new plan to be an investment, that is, to bring real assets to the country, something that many institutions have been urging in recent days. If it would again take the form of a citizenship grant, he replied that it might provide that option, or investors could be given some other privileges. 

Regarding the fact that some experts are still trying to "sell out" the Cypriot passport, 15 days before the end of the existing program in the form of "those who catch up by November 1", Mr. Palamas stressed that these are practices and methods that resonate in Cyprus and which have brought us here. 

Mr. Palmas said that although there is a possibility of accepting applications until October 31. It is practically impossible to do all the necessary bureaucratic procedures to submit such an application within two weeks. Such a process, he added, is much more time-consuming. 

Going a step further, he stated that there was no expediency on the part of the Government to spend another two weeks until the abolition of the plan. This was done, he added firstly because there were pending issues and secondly because some interested parties had done business with businessmen and could not "hang" them.

Regarding the movements of the experts who "sell" passports as much as possible, he stated that the Ministry of Foreign Affairs would issue an announcement. 

Source: inbusinessnews.reporter.com.cy
Photos: pixabay.com
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