FAMAGUSTA GAZETTE – Five years after the Republic of Cyprus terminated its controversial citizenship-by-investment scheme, investigations into fraudulent “golden passport” cases remain sluggish, revealing deep institutional shortcomings and international cooperation hurdles.
According to local reports, only seven of the 195 suspected cases have been fully investigated, with criminal proceedings initiated in just four.
One of those cases ended in full acquittal.
Authorities cite the complexity of the files and delays in intergovernmental cooperation—particularly with Asian countries—as key reasons for the slow progress.
So far, citizenship has been revoked from 306 individuals, including 88 investors and 208 of their family members, due to irregularities.