Alpha News

AKEL Proposes Law for Golden Visa Program: Regulations or Abolition

Published January 22, 2026, 15:27

AKEL has submitted a bill regarding the “Golden Visa Program,” requesting the government to present regulations for its operation within three months. If the government fails to comply, the bill proposes the abolition of the program. MP Giorgos Loukaidis emphasized that the program is high-risk and that the European Union is calling for its abolition, recalling the problems that arose with the golden passports. He also mentioned negative observations in the 2023 Auditor General's report that reinforce AKEL's concerns. Mr. Loukaidis also highlighted the program's impact on the housing crisis, as it reduces the available housing stock and makes access to affordable housing more difficult for citizens. AKEL hopes the bill will be passed by the plenary session of the Parliament with the support of other political forces.