Cyprus Withdraws 8 More Golden Passports

Cyprus authorities have revoked the passports of eight persons who acquired citizenship in this country through the Golden Passport Program.

More than 20 naturalisation cases acquired through the Cyprus’ Golden Passport Program are being investigated.

Eight persons have been stripped of their Cypriot citizenship acquired through the Golden Passport Program, known as the Citizenship by Investment Program.

The decision, confirmed by the Government of Cyprus, comes following the gathered evidence by investigators over irregular affairs related to this program, Schengen.News reports.

The Golden Passport Program of Cyprus, which permitted internationals to acquire citizenship in exchange for financial investments, was terminated in 2020, following a report by Al Jazeera which showed that the program was connected to several irregular affairs such as money laundering, tax evasion and corruption among others.

Introduction of Golden Knowledge Program

In December 2023, Cyprus announced that it would introduce the Golden Knowledge Program to attract tech talent and thus contribute to the country’s economic growth.

Announcing the new decision, Diko MP Nicolas Papadopoulos insisted that the scheme is not similar to the Golden Passport Program.