Cyprus Golden Passport Scheme Trial Set for February 15.
The Nicosia Criminal Court has set June 10 as the initial date for the trial related to the naturalisation of two foreign investors as well as the potential naturalization of an alleged Chinese businessman.
During the trial, a total of 32 persons are expected to testify.
During the proceedings of January 18, the third defendant, Antonis Antoniou, said that he does not accept the charges he is subject to connected to the Golden Passport scheme, according to a report from Al Jazeera. The next hearing is scheduled for February 15.
During the last hearing, on December 29, Former House President Demetris Syllouris and former Akel MP Christakis Giovanis pleaded not guilty to five charges read out to them at Nicosia criminal court during the trial related to the findings of the Al Jazeera documentary.
During that period, Antoniou was abroad. Thus, he was set to make his plea before the court on January 18 at 9.30 am.
Antoniou is being represented by lawyer Andreas Pittadjis, who was initially on trial with the other three defendants. However, in October last year, all charges against him were dropped, thus transitioning from being a defendant to becoming Antoniou’s lawyer.
Cyprus’ Golden Passport scheme allowed wealthy foreign internationals to acquire citizenship in this country, provided they invested financially at least €2 million in this country and met the needed conditions.
However, the scheme was terminated in 2020 following Al Jazeera’s investigation that brought to light the fact that the scheme was involved in several irregular affairs.
For a period from 2007 until 2020, more than 7,000 golden passports were granted through this scheme.
In November last year, authorities in Cyprus agreed for stricter controls on its Golden Visa Program, which allows internationals to acquire residency by meeting conditions such as financial investment.
The findings recorded in the audit service’s special report had already been identified by the ministry itself when it assumed governance on the basis of Moneyval’s relevant indications of the risk of abuse that existed due to the weaknesses of the programme.
Mentioning the fact that it is not similar to the Golden Passport Program, in December last year, Cyprus introduced its Golden Knowledge Programme as part of efforts to bring a more significant number of tech talent to the country.
The decision came following an amendment passed to the Civil Registry Law by the House, thus easing the rules for granting Cypriot citizenship to foreigners.
