On Wednesday, October 7, a meeting of the Council of Ministers was held in Nicosia, after which the official representative of the government, Kyriakos Kousios, announced the start of the process of revoking the Cypriot citizenship of seven foreign investors who received passports under the Cyprus Citizenship by Investment program.
According to Kousios, foreigners violated the rules of the scheme by knowingly providing false information about themselves when applying for citizenship.
In addition, in the near future, the Cypriot police are studying the documents of 12 more similar cases. The report of the committee, chaired by the chairman of the Cyprus Securities and Exchange Commission (CySEC), Demetra Kalogirou, will be submitted to law enforcement agencies.
Police officers will have to find out their CVs. In particular, if any of them is wanted for serious criminal offenses punishable by imprisonment for more than 5 years.
In case of violations, the Chief of Police of Cyprus will inform the Minister of Internal Affairs about this, who in turn will submit an investigation report to the Council of Ministers, which will be able to immediately start the process of revoking the citizenship of unscrupulous foreigners.
Let me remind you that the Attorney General sent the Commission's opinion to the Chief of Police to investigate possible criminal offenses, Kusios emphasized.
It was also decided to forward the committee's opinion to the Greek Capital Market Commission and the tax inspector to further investigate the issues raised regarding these services.