The Cyprus government has opened tender for selection of due diligence service providers for reports on applicants and related individuals of the Cyprus Investment Programme (Tender Procedure No. Y.E.2018/4/A/A)
The framework agreement requires DD firms to provide the following services:
- To conduct enhanced global due diligence on non-Cypriot citizens applying for the acquisition of the Cypriot citizenship through naturalization by exception (Cyprus Investment Programme – CIP) and on other relevant individuals (family members or known associates), in order to verify their identity, background, financial history, and sources of wealth and assess the relevant risk for corruption, terrorism, money laundering, political sanctions, and their reputation.
- To provide training to the competent governmental staff on relevant topics, including due diligence, understanding risk and Anti-money laundering / Anti-Bribery and Corruption (AML/ABC) compliance.
Time-limit for receipt of tenders or requests to participate: 21/05/2019 12:00
The Cypriot parliament recently allotted €1.4 million euros annual budget for three years for due diligence checks for CIP applicants under the citizenship investment scheme.
The new changes of cyprus citizenship by investment scheme comes into effect on May 15, 2019 with stricter checks on applicants.
The e-procurement tender is available here
