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Cyprus

Commission expected to launch procedures against Cyprus and Malta over citizenship schemes

Cyprus Citizenship By Investment Program Review

The European Commission is expected to adopt the launch of infringement procedures against Cyprus and Malta as regards their investor citizenship schemes, Vice-President Maros Sefcovic said on Monday.

The commissioner, before announcing the 2021 Commission work programme, referred to other points discussed during Monday’s College Of Commissioners’ meeting.

He said they also discussed “the investor citizenship schemes in Malta and Cyprus, and the case of launching infringement procedure and this will be adopted by the finalisation procedure tomorrow.”

Sefcovic said the latest revelations about citizenship programmes had confirmed the Commission’s concerns, which have been communicated to Malta and Cyprus.

Cyprus last week scrapped the current citizenship by investment programme following revelations by Al Jazeera media network that the then House President Demetris Syllouris and Akel MP Christakis Giovanis appeared willing to help a rich Chinese businessman acquire Cypriot citizenship despite he had a criminal record.

Both Syllouris and Giovanis have since resigned their parliament posts.

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