Politis

AKEL Proposes Law to Regulate or Abolish the 'Golden Visa' Program

Published January 22, 2026, 15:20
AKEL Proposes Law to Regulate or Abolish the 'Golden Visa' Program

AKEL has submitted a bill to regulate or abolish the 'Golden Visa' program. MP Giorgos Loukaidis stated that the proposal aims to obligate the government to present regulations for the program's operation within three months, otherwise it will be abolished. AKEL considers the program high-risk, as the European Union is calling for its abolition, and refers to negative findings in the 2023 Auditor General's report that reinforce their concerns. Furthermore, they argue that the program exacerbates the housing crisis by limiting available housing stock and making access to affordable housing more difficult for citizens. AKEL hopes the proposal will be passed by the plenary session of the Parliament, with the support of other parties.