Cyprus revokes citizenship of many Golden Passports
On October 12, Cyprus announced it would revoke citizenship of 10 individuals out of thousands of beneficiaries of this country's Golden Passport scheme.
In a statement, those who were revoked citizenship included three investors and seven dependents. However, the identities and nationalities of these people were not disclosed.
Cyprus has issued passports to more than 7,000 people under the Golden Passport program - Accordingly, individuals who invest at least 2 million euros ($1.94 million) will be granted citizenship of this country. The program has attracted many Russian and Asian investors.
Since October 2021, Cyprus has commenced the process of revocation of citizenship of 60 investors and 159 of their relatives. So far, 6 people have been deprived of citizenship.
In 2020, the Government of Cyprus has canceled its investment-for-passport program after the appearance of a series of information about fraudsters, evading the law and fraudulent investors benefiting from this program.
Cyprus revokes citizenship of many Golden Passports
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