Cyprus Citizenship Program Re-Check

Shelley HumphreysShelley Humphreys04/11/20191min
The Cypriot authorities have recently announced a mass re-examination of citizenship applications submitted before 2018.

The program was launched in 2013 and has issued more than 3.2 thousand people a Cypriot passport. In 2019, the terms of the agreement have been updated with additional security checks and additional fees.

Following the re-checks of those who took part in the Cyprus Investment Program to obtain Citizenship, it is possible that some may lose their passports, in fact, some already have.

International companies Sterling Diligence, Kroll, S-RM Intelligence and Risk would officially be starting the re-checks in December. The companies will focus on searching for persons who are suspects in crimes or those who are under EU sanctions, which may have been hidden throughout the application process.

The re-checking of applications has occurred following a warning by the European Commission. Concerns have been raised that organised criminal groups could access Europe with Cypriot passports.

The republic is still on the list of major international investors in Russia and holders of ruble assets, along with other locations such as Ireland, Luxembourg and the UK. Experts point out that it is Russians investing in the Russian economy using foreign instruments.

Shelley Humphreys

Shelley Humphreys

Shelley started her education in Legal Studies followed by employment in a UK energy Firm. In recent years attention has been turned to content writing specifically on the subjects of investment and real estate. Alongside this she has also worked with UK based Travel Agency, this diverse background makes her well equipped to write on a range of subjects. Contact Shelley at +357-22029786 ext: 6126 or by email at shelley@highworthcitizen.com for editorial related questions.



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