EditCyprus “golden passports” trial nears verdict amid global scrutiny
Triggered by Al Jazeera’s 2020 undercover investigation, thе case revealed how foreign investors could secure Cypriot citizenship through dubious means
The high-profile “Al Jazeera” trial, exposing Cyprus’ controversial citizenship-by-investment scheme, has concluded its evidentiary phase at the Nicosia Criminal Court.
Former House President Demetris Syllouris and former “Progressive party of working people” (AKEL) MP Christakis Giovanis await judgment following final submissions, facing charges of influence peddling and conspiracy to defraud.
Syllouris and Giovani face charges of conspiracy to undermine the Republic and improperly influencing a public official, in violation of anti-corruption laws. Court witnesses testified that the pair abused their authority to advance cases within the citizenship-by-investment program.
The Cyprus investment program, active from 2007 to 2020, granted citizenship to 6,779 individuals, mostly Russians, for investments of at least €2.15 million. An official investigation by the Nikolatos Committee (a investigative committee led by former Supreme Court judge Myron Nicolatos, appointed by the government to investigate the “golden passport” scheme) uncovered significant irregularities, linking many recipients to fraud, corruption, or other crimes. The program was discontinued in 2020 under EU pressure, which culminated in a 2022 European Parliament resolution calling for a ban on such schemes due to minimal residency requirements and fast-track processes compared to standard migration or naturalization procedures.
A subsequent “golden visa” program, requiring a €300,000 investment, issued 5,800 residency visas by 2023, granting holders free movement within the Schengen area. Under President Nikos Christodoulides, who assumed office in March 2023, Cyprus has intensified efforts to revoke illegally obtained citizenships.
Initially, four defendants were charged: Syllouris, Giovanis, lawyer Andreas Pittadjis, and Antonis Antoniou, an executive at Giovanis’ company. Charges against Pittadjis and Antoniou were dropped due to procedural issues. On 13 October Syllouris’ attorney, Chris Triantafyllides, withdrew an objection alleging “abuse of power” by Deputy Attorney-General Savvas Angelides, who approved a related citizenship application while defense minister (2018–2020). The prosecution deemed the objection untimely, and the judge permitted Triantafyllides to argue his case further.
Both sides are now preparing closing arguments, with the Assize Court’s verdict expected soon. Previous “golden passport” cases have seen acquittals on naturalization charges.
The first, at Larnaca Assize Court, ended in November 2022 with all 36 counts dismissed against five individuals and four entities.
The second, the “Salem case,” acquitted seven defendants on naturalization charges, though two were convicted on six tax-related counts, with an appeal pending.
A fourth case, involving eight individuals and two companies, including Marios and Andreas Demetriades, faces 59 charges of conspiracy, corruption, and money laundering at Nicosia Assize Court, with all defendants pleading not guilty.
The scandal keeps drawing international attention. The U.S. Treasury Department sanctioned on 14 October two Cypriot passport holders as part of a crackdown on the Cambodia-based Prince Group, a transnational criminal organization linked to cybercrime and money laundering. The sanctions freeze U.S.-related assets and bar transactions, signaling heightened global scrutiny of Cyprus’ past citizenship practices.
Two Cypriot passport holders sanctioned by U.S. for links to criminal networks
Exposed by Al Jazeera’s October 2020 documentary, which showed officials allegedly facilitating citizenship for a fictitious Chinese investor with a criminal background, the trial’s outcome could shape Cyprus’ efforts to address the fallout from its controversial investment schemes and restore credibility amid EU and international oversight.
The original article in EUalive’s media partner Politis can be found here.
Cyprus intensifies revocation of “golden passports” amid fraud and crime concerns
Caption: The “Al Jazeera” trial over Cyprus’ controversial investment-by-naturalisation scheme has concluded its evidentiary phase. Politis.com
Updated: October 17, 2025 - 10:27
