The Attorney General has set up the commission of inquiry, which has been mandated to investigate naturalizations since 2007.
The Attorney General, George Savvidis, pursuant to Article 2 of Chapter 44 set up the investigative committee which is mandated to investigate the naturalization of foreign businessmen and investors through the Cyprus Investment Program from 2007 until 17 August 2020.
The appointment of a four-member independent Investigative Committee for the Cyprus Investment Program after the issue that arose with the naturalizations, was announced by the Attorney General George Savvidis.
According to Mr. Savvidis, Myron Nikolatos is appointed President, former President of the Supreme Court and members are Costas Pampallis, former Supreme Court Judge, Kyriakos Kyriakou, Assistant Auditor General and Pavlos Ioannou, Financial Commissioner.
The Research Committee is instructed to investigate, in relation to the exceptional naturalization of foreign entrepreneurs and investors and the Cyprus Investment Program, from 2007 until 17.8.20, the date of publication of the new legislative framework:
1) Whether all the laws, decisions of the Council of Ministers and all the laws, procedures, procedures, terms and conditions in force at the time of submission and / or examination of the applications were correctly applied; including the economic criteria to be met
2) Whether the findings of the investigation referred to in paragraph (a), in the Commission's discretion, give rise to any evidence or facts:
- which may impose liabilities on any person involved as a result of his or her actions or omissions in the performance of his or her duties, and
- justifying the possible initiation of the examination procedure for the deprivation of Cypriot citizenship on the basis of applicable law.
The Commission of Inquiry will complete its investigation and submit its report to the Attorney General of the Republic, within 3 months from the date of issuance of the Decree or at a later date as decided by the Attorney General of the Republic, at the request of the Commission of Inquiry the Law.