Should Cyprus expect serious investors after the scandal with "golden" passports?

Ждать ли Кипру серьёзных инвесторов после скандала с "золотыми" паспортами?
1 November 2020 Liza Medvetskaya

The tragic effects of the Cyprus Investment Program were pointed out by Professor Haridimos Tsoukas, the last working day of operation of the investment program.

Mr. Tsoukas referred to the tragic consequences that the Cypriot economy will bear from the operation and the awkward abolition of the Cyprus Investment Program.

The abrupt termination of the Cyprus Investment Program under the weight of its corruption has brought about the greatest possible cost. Although these costs are found in many levels of the economy to the turnover of the investment program, they mainly concern the country's defamation.

From the previous years, Cyprus already has the reputation of the "casino economy," as Mr. Tsoukas stressed, citing statements by the EU Commissioner for Economy. Pierre Moscovici. "After the collapse of our banks, instead of building Cyprus' economy on new foundations, we rebuilt it on the same fragile, post-operational bases," he said.

"Which serious investor will come to Cyprus to invest after the revelations we have all seen," asked Professor Tsoukas.

Commenting on the announcements by the Government that there will be no new naturalization plan, Mr. Tsoukas said that despite the Government's intentions, the cost and the damage are here, and that can not be changed.

"In a severe democracy, the politicians who were involved in this program of corruption, as it turned out, have serious responsibilities. However, the cost is borne by all citizens and not only the politicians who are responsible, "said Mr. Tsoukas.
Professor Haridimos Tsoukas also stressed that there is a need to restore the concepts. Specifically, he stated that "There is a euphemism. When you deposit €2 000 000 and have an instant relationship with the country or buy a property, it does not make you an "investor." 
An investor creates sustainable jobs when you move your offices and facilities to the country, etc. KEP aimed at quick profit, trading an expensive public good ".

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