After the scandal of officials in Cyprus.. the citizenship of 232 people was revoked

Cyprus revoked the citizenship of 232 people after a money laundering scandal involving the illegal granting of citizenship.

The daily "Fileleftheros" quoted government officials as saying that checks of passports granted in suspicious circumstances were still ongoing.

Since Cyprus is a member of the European Union, its passport allows travel throughout the bloc.

The scandal was exposed in 2020, when the Speaker of the Cypriot Parliament appeared at that time through a hidden camera, providing a Chinese citizen with assistance in obtaining Cypriot citizenship.

The Chinese citizen had been sentenced to a long prison term in China on charges of money laundering, and the Speaker of Parliament and another Member of Parliament resigned at a later time.

An investigative committee found that between 2007 and 2020, 3,517 people, along with 3,810 close relatives, were granted Cypriot citizenship.

In a 192-page report, the committee found that a large number of these cases constituted "illegal naturalization."

Advantages of Cyprus citizenship and passport :

1. Visa-free travel to 175 countries and territories around the world, including the countries of the Schengen Area, the European Union, the United Kingdom and Canada

2. Obtaining citizenship within 6 to 8 months.

3. Investors have the right to work and live permanently in Cyprus, as well as in any other country within the European Union.

4. Family members also obtain Cypriot passports, and newborns acquire citizenship by inheritance

5. Applicants are not required to live in Cyprus and only need to make one visit to Cyprus to submit biometrics.

6. An attractive tax system and a prosperous economy.

Cyprus citizenship by real estate investment :

·The Cyprus citizenship by investment program requires applicants to invest a minimum of €2,000,000 in real estate.

·Make a donation of €150,000 divided equally between the Research and Development Fund (or other approved innovation institution) and the Land Development Organization.

· After five years, the real estate investment can be reduced to €500,000, but investors need to maintain this investment throughout the life of the applicant.

·The property is the principal residence of the investor in Cyprus, even if the applicant chooses to live elsewhere.

The cost of Cyprus citizenship by investment :

1- Real estate investment 2,000,000 euros

2- Government donations:

- €75,000 to the Research and Development Fund

- 75,000 Euros for the Land Development Organization

3- legal fee is 40,000 Euros

4- application processing fee:

- €2,000 per adult

- 80 euros for each child under 18 years old