MPs seek greater transparency on sale of passports

Lawmakers on Monday jumped on official data regarding the number of people acquiring Cypriot nationality through the citizenship-through-investment scheme, claiming the programme has spun out of control.

Interior ministry officials were informing MPs that, from 2008 to the present day, naturalisations granted to persons through the investment scheme came to 3,336.

Of these, 1685 cases related to the investors themselves, and 1651 to members of their family – spouses, children and parents.

Meanwhile since 2001 the number of Cypriot passports granted to foreign nationals via the ‘normal’ process (marriage, etc) amounted to 5,848.

The numbers caused a number of MPs to decry the fact that the citizenship-through-investment scheme has become the norm rather than the exception.

The issue was being discussed at the House interior affairs committee, where Greens MP Giorgos Perdikis has tabled a bill aimed at bringing more transparency to the process.

The bill provides for the publication in the government gazette of the names of foreign nationals who have received Cypriot nationality either through the investment scheme or for special reasons.

Perdikis said also he planned to insert another provision where the government’s citizenship-through-investment schemes would require parliamentary approval.

“Yes we want to have investors in Cyprus, but this should be done very carefully and without excesses,” he told reporters.

For his part Akel MP Giorgos Georgiou said the house committee will next be seeking detailed data on which law firms, audit firms and construction companies have been involved in the citizenship-through-investment scheme.

 

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