In a continued effort to restore integrity and uphold transparency, the Government of Cyprus has taken decisive action by revoking the citizenship of 150 individuals – comprising investors and their family members – who gained their Cypriot nationality through the now-defunct Citizenship-by-Investment programme, commonly referred to as the “Golden Passport” scheme.
The Council of Ministers has recently approved six new proposals resulting in the revocation of Cypriot citizenship from 28 more individuals. These decisions are part of a broader initiative initiated under President Nikos Christodoulides’ leadership, which has so far seen 41 total revocation decisions, affecting 150 people. This group includes 41 investors and 109 dependents.
Alongside these new orders, the Council issued Deprivation Orders for 69 individuals from earlier cases between 2021 and 2023. To date, the revocation process has been fully completed for 15 persons, including five investors and ten family members. Since the closure of the controversial programme in November 2020, the government has moved to revoke the citizenship of approximately 360 people in total — encompassing 101 investors and 259 relatives. Of these, 112 cases have been finalized through annulments of passports and related documents.
The troubled scheme was officially terminated in late 2020 amid revelations of malpractice. A landmark report in 2021, led by former Supreme Court judge Myron Nikolatos, exposed that over half of the 3,000 citizenships granted between 2007 and August 2020 were deemed unlawful. The fallout from this revelation has propelled ongoing reforms aimed at tightening immigration and investment controls.
Authorities underline that these citizenship revocations are integral to a larger strategic plan designed to fight corruption and mend Cyprus’ global standing. The Ministry of Interior, collaborating with the Attorney General’s office, is in the process of revising the Civil Registry Law. These amendments, tailored to align with European Commission recommendations, aim to prevent any recurrence of abuses under similar programmes.
The Ministry remarked, “This reform will enhance transparency, rebuild trust in the Republic, and demonstrate Cyprus’ commitment to modern European values and principles.”
Meanwhile, accountability is being sought through the judicial system. Two prominent former politicians, Dimitris Syllouris (ex-House Speaker) and Christakis Giovanis (former MP), face charges related to the naturalisation cases connected with the programme. Both defendants plead not guilty during proceedings at the Nicosia Permanent Criminal Court.
Syllouris maintained his innocence, stating he never acted unlawfully or with illicit intent and lamented the personal toll the case has caused. Giovanis also denied wrongdoing, clarifying that relevant documentation was managed by his legal counsel and asserted no knowledge of any impropriety. The court case is ongoing.
The ramifications of these developments extend beyond just citizenship issues. For buyers and investors exploring Cypriot real estate, the renewed focus on legal integrity signals a stabilizing market environment. To discover opportunities that align with this evolving landscape, consider browsing affordable houses and villas for sale in Cyprus or explore
budget-friendly apartments that reflect current market adjustments.
Understanding the broader political and legal context is vital for informed property decisions in Cyprus’s dynamic real estate sector.
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