The controversial “golden passport” scheme, which granted citizenship in exchange for investment, continues to stir debate in Cyprus five years after its termination.
According to Haravgi, cited by Kibris, the European Commission is still considering referring the case to the European Court of Justice over alleged violations tied to the now-defunct Cyprus Investment Program.
The Commission has not closed the infringement procedure and maintains pressure on Cypriot authorities to implement legal reforms.
The report criticizes both the Anastasiades-DISY and Christodoulides administrations for damaging the Republic’s credibility and eroding public trust.
A memo from the Interior Ministry reportedly urges the immediate submission of legislation to Parliament to formally close the “institutional window” left open by the program.
Although the scheme ended, the European Union has set conditions for closing the infringement case. According to the memo, the Attorney General informed lawmakers that the Commission expects the government to repeal relevant legal provisions and enact corrective legislation.
The golden passport program had drawn widespread scrutiny for allegedly enabling wealthy foreign nationals to obtain EU citizenship without sufficient oversight, prompting investigations and reputational fallout for Cyprus.