Category: Cyprus Travel News

The government of Cyprus has asserted that its much-criticized Golden visa scheme allows internationals who have to invest at least €2 million to travel without any visa requirements in EU countries which is going to end on November 1, 2020.

Such a decision was taken when an investigative report of Al Jazeera called as “the Cyprus Papers” which resulted that above 1k internationals along with their family members granted citizenship in Cyprus, from 2017-2019 through the citizenship via Investment Program.

As per the recent report, around thirty persons who got advantage from the Golden Visa were accused of illegal action while 40 of them are politically cited. 

Besides, other wealthy people who got citizenship in Cyprus were also involved in corruption affairs, money laundering, and other criminal activities as per recent reports. 

But, EU (European Union) officials, along with the civil society activists, are not assured that Cyrus will not try to restart or relaunch this program in a revised manner.

As per Al Jazeera series of reports in this concern, Demetris Syllouris, a parliamentary speaker along with Christakis Giovanis, a member of parliament, have been involved in these visa frauds. 

Al Jazeera’s undercover operatives delivered themselves as an established businessman from China, sentenced to money-laundering affairs. If depended on scheme regulations, any such conviction has to not allow the fraud businessman to apply. Furthermore, Demetris Syllouris, the parliamentary speaker confident to assist the sale of Cyprus passports to persons who meant an invented businessman from China concerned in money-laundering affairs.

Further, Al Jazeera’s report discovered that one registered service company announced that it has formerly got the Cyprus golden passport for someone who has been jailed for 2 years for corruption accusations, considering that the person has to change his name if you want to have a new identity.

He further pointed out, “Obviously, we can amend his name. This is Cyprus.”

In addition, as Syllouris was registered to specify “You can specify him that he will have instead of describing my name or anybody else’s, whole support from Cyprus. At any level: economic, social, political, everything – OK?”

In September, the EU asserted that it could launch legal action against the government of Cyprus for allowing the Golden Visa Scheme to ensure its services, regardless of criminal accusations which are facing. 

The European Commissioner for Justice back then expressed its concerns while adding that the first element is to be sure that there are some investigations at the national level from the justice system.

Didier Reynders, the European Commissioner for Justice, previously stated its concerns along with adding that the first element is to ensure that there are some inquiries at the national level from the justice system. Besides, the citizenship as per investment scheme from 2013 when it was begun brought the country above 7 billion euros, i.e. $8bn.

Regardless of the accusations which had been facing the country, Cyprus’ Nicos Nouris (Interior Minister) harassed the government of Cyprus and enhanced the security and management of its citizenship by using an investment program. But this kind of announcement did no longer persuade the EU, which in April, criticized Malta, Cyprus, and Bulgaria for running their citizenship-by-investment scheme.

In September, last year, members of the European Parliament from the European People’s Party group had desired the abolition of the Golden visa program in European Union countries.

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