Cyprus government has allocated €1.5 million in the budget of the Ministry of the Interior for 2019 to for due diligence costs for the citizenship by investment programme. The firm PricewaterhouseCoopers is the front runner to provide due diligence for the cyprus investment schemes, according to Kathimerini sources
The budget bill asks for an extra €1.5 million to cover the purchase of services for a specialized international firm to perform due diligence for the government’s citizenship by investment programme.
The government approved this action back in May 2018 as response to criticism over the naturalization process.
According to an Interior Ministry announcement last Friday, up to three Firms are to carry out investor due diligence. Professionals will be expected to sift through 1,500 applications per year and the duration of the contract will last up to three years.
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