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EC Ends Process for "Golden" Passports - Significant Development for Cyprus

Published March 12, 2026, 14:08
EC Ends Process for "Golden" Passports - Significant Development for Cyprus

The European Commission has decided to terminate the infringement procedure concerning the former Cyprus Investment Program. The decision was described as a particularly important development for Cyprus by the Government Spokesman, Konstantinos Letymbiotis, who emphasized that it confirms the correctness of the decisions and policies being implemented. The Government has taken measures to address the issues that had arisen, in cooperation with the Legal Service. A decisive step in achieving this outcome was the definitive abolition of the possibility of granting Cypriot citizenship to investors through the program, which was done by law last October. The program had already been terminated on November 1, 2020, but the legislative abolition strengthens the institutional protection of the country. In addition, new legislative regulations have been established to enhance transparency and accountability, such as the obligation to publish in the Official Gazette of the Republic cases of deprivation of citizenship. The Government is also proceeding with the process of reviewing and depriving citizenship in cases where it was deemed necessary, having taken 39 decisions concerning 147 individuals since March 2023. The decision of the European Commission is part of Cyprus' efforts to strengthen its institutional credibility and confirms that political will can lead to effective functioning of institutions and positive results. Cyprus strictly implements the European acquis and aims to further enhance the country's international credibility.