EditCyprus intensifies revocation of “golden passports” amid fraud and crime concerns
Under President Christodoulides the Cypriot government has intensified efforts to revoke unlawfully obtained citizenships
Cyprus discontinued its “golden passport” program, officially known as the Citizenship by Investment scheme, in late 2020 following widespread criticism and regulatory pressure from the European Union.
The program, which allowed foreign investors to obtain Cypriot citizenship in exchange for a minimum investment of €2 million, was criticized for enabling money laundering, tax evasion, and security risks. A Cypriot passport grants visa-free travel, work, and residency rights across the 27-nation European Union, making it highly attractive but also vulnerable to abuse.
Between 2007 and 2020, Cyprus granted citizenship to 6,779 individuals, predominantly Russians, under the scheme, which was particularly active under the right-wing administration in power from 2013 to 2018. However, an official inquiry led by the Nicolatos Committee (a investigative committee led by former Supreme Court judge Myron Nicolatos, appointed by the government to investigate issues with the island’s Citizenship by Investment (CBI) program, also known as the “golden passport” scheme) revealed significant legal violations in the granting of these citizenships, with many recipients linked to fraud, corruption, or other criminal activities.
Ongoing revocations
Under President Nikos Christodoulides, who assumed office on 1 March 2023, the Cypriot government has intensified efforts to revoke unlawfully obtained citizenships.
To date, the Cabinet has issued 35 decisions, stripping citizenship from 35 investors and 87 family members, totaling 122 “golden passports.” Since the scheme’s closure, successive administrations have revoked 332 passports, affecting 95 investors and 237 family members. Of these, 112 cases (33 investors and 79 relatives) have been finalized with Citizenship Deprivation Orders, resulting in the cancellation of identity cards and passports.
The government, following recommendations from Interior Minister Constantinos Ioannou, recently decided to revoke citizenship from an additional seven investors and 19 family members. Further revocations are anticipated at upcoming Cabinet sessions as investigations continue.
Grounds for revocation
Citizenship is revoked when evidence confirms that passports were obtained fraudulently or through misrepresentation. The Nicolatos Committee identified several grounds for deprivation, including:
– False statements and misleading information: some investors falsely claimed inability to travel to Cyprus to sign naturalization certificates, citing professional obligations. In reality, many were in custody in their home countries facing criminal charges.
– Criminal convictions: several investors had extensive criminal records, including convictions for serious crimes, lengthy prison sentences, or listings on Interpol’s wanted persons database.
– Ongoing investigations: while being under investigation or in pre-trial detention does not automatically justify revocation, the Nicolatos Committee recommended continuous monitoring. Convictions for crimes such as corruption, tax evasion, fraud, money laundering, or involvement in criminal organizations trigger revocation under Article 113(3) of the Population Register Law.
– Failure to meet investment conditions: Investors were required to submit annual progress certificates for properties used as the basis for their investment and final delivery certificates upon completion. Many failed to comply, and some sold their properties after naturalization, retaining only their passports.
Revocation process
Before a Citizenship Deprivation Order is issued, affected individuals are notified in writing of the grounds for revocation and their right to appeal to the independent Citizenship Deprivation Review Committee.
This committee, chaired by a representative of the Law Office of the Republic and including the Auditor General and the Permanent Secretary of the Justice Ministry (or their representatives), reviews cases and provides a reasoned opinion by majority vote. The Cabinet then evaluates the committee’s report before issuing a final Deprivation Order.
The issue of “golden passports” gained significant attention following reports in 2019 that Cyprus planned to revoke citizenships granted to 26 non-EU investors and family members, including nine Russians, eight Cambodians, five Chinese, and individuals from Malaysia, Kenya, and Iran.
Interior Minister Constantinos Petrides acknowledged “mistakes” in processing citizenship requests, particularly the lack of stringent criteria for high-risk individuals.
The European Commission has repeatedly called for the termination of such schemes, citing risks to the Schengen area’s security, including money laundering, tax evasion, and corruption. Following Russia’s invasion of Ukraine in 2022, Cyprus and Malta revoked dozens of passports issued to Russian citizens. The European Commission also launched infringement procedures against Cyprus, arguing that granting citizenship for predetermined payments without genuine ties to the state undermines EU citizenship integrity.
Investigations and future outlook
The Ministry of the Interior continues to investigate suspicious cases flagged by the Nicolatos Committee, with special police units examining potential criminal offenses. An interim report highlighted instances of fugitives exploiting the scheme through spousal applications and properties being resold multiple times via “cancel and release” agreements after citizenship was granted.
As Cyprus strengthens its oversight and aligns with EU standards, the revocation of “golden passports” reflects a commitment to addressing past failures and preventing the abuse of citizenship schemes. With ongoing investigations and further revocations expected, the government aims to restore trust in its citizenship processes while navigating the complex legacy of the discontinued program.
The article in EUlive’s partner media Politis can be be found here.
Other source: Reuters
Caption: President of Cyprus Nikos Christodoulides delivers a speech during the annual Congress of the European People’s Party (EPP) in Valencia, Spain, 30 April 2025. EPA/Kai Foersterling
Updated: September 4, 2025 - 12:19
