The ‘golden’ passports business and the shaming of the Republic of Cyprus
Article by Yiorgos Georgiou, AKEL MEP
28TH September 2020
There’s a lot being said surrounding the “golden” passports industry. The people, however, do have a memory and can judge for themselves.
The Cyprus citizenship for investment program was initially designed as an instrument to boost sustainable development for the benefit of society. The aim was to attract investment for the promotion of new technologies and research, the creation of new quality jobs and the development of the real economy. Within this framework, by 2013, less than 200 passports had been issued by the previous two Governments.
The Anastasiades-DISY government, just two months after assuming power in March 20213, abusively changed the criteria and ignored the necessary scrutiny, implemented non-transparent procedures, transforming the investment program into a “golden” passport business, a billion-dollar feast for rings and go-betweens.
The numbers themselves reveal reality itself. The government ruling forces granted more than 4,000 passports and increased the number of naturalizations fifteen times over, ignoring the marked swindlers/fraudsters of the world, who bought Cypriot citizenship. As a result, Cyprus’ name was shamed all over the world. A “bubble” was created in the Cyprus economy, which contributed to the huge rise in property and rent prices and permitted the uncontrolled construction of tall buildings and towers, without specific environmental and urban planning criteria being met.
A heap of complaints were made against Cyprus referring to cases of persons who at the time of attaining Cypriot passports were already internationally-known criminals and dictators. Indeed some of them, who are now our “compatriots” from Malaysia, Cambodia, Saudi Arabia and elsewhere, have never even been to Cyprus!!!
Complaints and revelations against Cyprus have been made by the European Commission, the European Parliament, the Council of Europe, the World Bank, the International Monetary Fund, the OECD, Transparency International, the International Observatory for Crime and Corruption, and even by the ruling party DISY’s Political group in the European Parliament, namely the European People’s Party EPP.
The Government is burying its head in the sand over the issue, but the Commission has repeatedly issued warnings about legal action being taken against the investment for citizenship program and has demanded that Cyprus be strict in revoking its naturalization. The competent Commissioner, in fact, revealed to us all that the EU warned Cyprus several times, even in writing, with a letter.
From the official podium of the European Parliament, on the 16th September 2020, the President of the Commission herself Ursula von der Leyen made a strong reference to the unacceptable violations of the rule of law, underlining that the sale of golden passports cannot be tolerated. She even warned that, before the end of the month, the Commission will approve the first annual report on the rule of law, with references to the situation in all member states.
Let the government hide behind its finger. The magnitude and severity of the scandal cannot be overstated. Cyprus has suffered great damage. The issue will end only when the practices that undermine the rule of law, damaging the economy and shaming our country, will be terminated.
The responsibilities of the government ruling forces are grave….
Instead of taking immediate corrective measures so that our country can attract serious investment, the government ruling forces are obstructing and engaging in the communication management of the problem.
They announced that the Government would revoke 26 passports that were granted in controversial cases, but they became entangled with the “bureaucracy”…
They submitted, with delay, to Parliament new rules to regulate the program, but again they included loopholes and ambiguities…
They are shouting loudly “everything out in the open”, but they are still hiding on the issue of the 350 naturalization applications submitted by big law firms, with which the President of the Republic himself, three members of his government and two former Ministers are connected.
The report of the Ad-hoc committee, led by the chairwoman of the Securities and Exchange Commission Demetra Kalogirou is damning with shocking data revealed, but the Minister of Interior wants to throw the investigations in the dark, begging the Auditor General to be silent. Meanwhile, the corruption continues…
We call on the Government to at long last put Cyprus and the interests of the Cypriot people above the business of its cronies. Political will and determination is demanded for Cyprus to regain its credibility.
Respond to the call, even belatedly…
