{"id":119375,"date":"2025-10-13T19:55:12","date_gmt":"2025-10-13T16:55:12","guid":{"rendered":"https:\/\/www.lamaisonestates.com\/?p=119375"},"modified":"2025-10-13T19:55:12","modified_gmt":"2025-10-13T16:55:12","slug":"cyprus-amends-law-to-permanently-abolish-golden-passport-scheme-under-eu-pressure","status":"publish","type":"post","link":"https:\/\/www.lamaisonestates.com\/he\/cyprus-amends-law-to-permanently-abolish-golden-passport-scheme-under-eu-pressure\/","title":{"rendered":"Cyprus Amends Law to Permanently Abolish &#8220;Golden Passport&#8221; Scheme Under EU Pressure"},"content":{"rendered":"<p>Cyprus is moving to permanently dismantle the legal framework of its controversial &#8220;Citizenship by Investment&#8221; program, also known as the &#8220;Golden Passport&#8221; scheme, in a bid to close infringement proceedings launched by the European Union and avoid potential sanctions.<\/p>\n<h2>Closing the Door on a Controversial Past<\/h2>\n<p>The Cypriot Interior Ministry has submitted a new bill to parliament that will effectively remove the legal provisions that once allowed the government to grant citizenship to foreign investors. Although the &#8220;Golden Passport&#8221; scheme was officially terminated in November 2020 following a major scandal, the European Commission has demanded these legislative changes to ensure the program cannot be revived in the future.<\/p>\n<p>The amendment, drafted in full consultation with the European Commission, is a final step required by Brussels to formally conclude its infringement case against Cyprus. The goal is to eliminate any legal basis for a state-sponsored citizenship-for-investment scheme.<\/p>\n<h2>New Rules on Citizenship Deprivation<\/h2>\n<p>In addition to abolishing the investment scheme, the new legislation introduces updated and more transparent procedures for the revocation of Cypriot citizenship.<\/p>\n<p>Key new provisions include:<\/p>\n<ul>\n<li>A 60-day deadline for individuals to appeal a decision to strip them of their citizenship.<\/li>\n<li>A new requirement for the Minister of the Interior to publish a notice in the Official Gazette whenever a person&#8217;s citizenship is revoked.<\/li>\n<\/ul>\n<p>This public notification is designed to alert banks, government agencies, and other organizations, thereby preventing the misuse of now-invalid Cypriot passports or ID cards. Authorities state the measure will significantly enhance transparency in citizenship-related matters.<\/p>\n<p>The bill has already been approved by the Cabinet and the Data Protection Commissioner and is now before the House of Representatives for final approval.<\/p>\n<p><i>Source: Cyprus Property News<\/i><\/p>","protected":false},"excerpt":{"rendered":"<p>Cyprus is moving to permanently dismantle the legal framework of its controversial &#8220;Citizenship by Investment&#8221; program, also known as the &#8220;Golden Passport&#8221; scheme, in a bid to close infringement proceedings launched by the European Union and avoid potential sanctions. Closing the Door on a Controversial Past The Cypriot Interior Ministry has submitted a new bill [&hellip;]<\/p>","protected":false},"author":9,"featured_media":119376,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[211],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/posts\/119375"}],"collection":[{"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/comments?post=119375"}],"version-history":[{"count":1,"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/posts\/119375\/revisions"}],"predecessor-version":[{"id":119377,"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/posts\/119375\/revisions\/119377"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/media\/119376"}],"wp:attachment":[{"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/media?parent=119375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/categories?post=119375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/tags?post=119375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}