Curator Selection / 2020 / /

Cyprus for Sale

  • Company
    Paul Shiakallis Photography
  • Photographer
    Paul Shiakallis
  • Image Location
    Cyprus
  • Credit
    Paul Shiakallis

After suffering numerous credit crashes that have crippled their economy, Cyprus adopted the 'Citizenship by investment program', whereby non-EU citizens are invited to invest in prime property and in return receive an EU passport. Due to Cyprus fast-tracking applications, investors credit histories are not properly checked leading to money laundering. Other consequences include rising rents, middle-class gentrification and natural and urban environmental disregard. In attempting to attract wealth, Cyprus has become a commodity to be bought and sold at the expense of its citizens.