President Nicos Anastasiades said on Sunday that foreigners with bank deposits in Cyprus who lost at least 3 million euros ($3.9 million) under an EU bailout for the island would be given passports.
‘Non-resident investors who held deposits prior’ to the bailout and lost ‘at least 3 million euros will be eligible to apply for Cypriot citizenship,’ which brings with it an EU passport, Anastasiades said.
‘We believe that a number of measures to be adopted could on the one hand mitigate to some extent the damage the Russian business community has endured,’ he told a Russian business conference in the coastal resort of Limassol.
He said the measures, primarily affecting Russians, would be approved at a two-day cabinet meeting starting Monday. ‘These decisions will be deployed in a fast-track manner and other measures, currently under consideration,’ he said.
‘Non-resident investors who held deposits prior’ to the bailout and lost ‘at least 3 million euros will be eligible to apply for Cypriot citizenship,’ which brings with it an EU passport, Anastasiades said.
‘We believe that a number of measures to be adopted could on the one hand mitigate to some extent the damage the Russian business community has endured,’ he told a Russian business conference in the coastal resort of Limassol.
He said the measures, primarily affecting Russians, would be approved at a two-day cabinet meeting starting Monday. ‘These decisions will be deployed in a fast-track manner and other measures, currently under consideration,’ he said.