Cyprus ends legal basis for citizenship by investment

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The Council of Ministers approved legislative amendments to the provisions governing the process of revoking Cypriot citizenship, Government Spokesman Konstantinos Letymbiotis said on Thursday during a media briefing at the Presidential Palace.

“Taking into account the suggestions of the Attorney General of the Republic for legislative amendments to the Civil Registry Law, the Council of Ministers, at its recent session, approved the amendment and deletion of provisions of the Law relating to the procedure for deprivation of Cypriot citizenship,” he stated. “The purpose of the legislative changes is to ensure that there is no legal basis for reinstating a programme granting Cypriot citizenship through investments.”

According to Letymbiotis, the cabinet decided to delete subsection (2) of Article 111A of the Law, which had allowed the Council of Ministers to grant Cypriot citizenship to entrepreneurs, investors and their family members under the Cyprus Investment Programme, terminated in 2020.

He added that a 60-day deadline would now apply for affected individuals to file an appeal before the Independent Committee for the Review of Citizenship Revocations. The Interior Minister will also be required to publish a notice in the Official Gazette informing of citizenship deprivation decisions.

The government spokesman said the recommendations for legislative changes followed consultations between the Law Office of the Republic and the European Commission. He added that the bill will be submitted to the House of Representatives for discussion and approval in the coming period.

He recalled that, “with the aim of restoring the reputation of the Republic of Cyprus internationally, and within the framework of regular reassessments of cases of persons who acquired Cypriot citizenship through the Cyprus Investment Programme, from the assumption of government in March 2023 until today, the Council of Ministers of the Christodoulides administration has taken 41 decisions to deprive individuals of Cypriot citizenship. The decisions concern a total of 150 persons, namely 41 investors and 109 members of their families.”

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