Cyprus Ends Controversial Citizenship-by-Investment Program Due to Legal and Security Concerns
The Cyprus Investment Program, which granted citizenships to numerous applicants including criminals and high-risk individuals, was officially terminated in November 2020. The European Commission found that granting Cypriot citizenship through this program violated European law, particularly due to inadequate vetting processes that allowed persons with criminal records, money laundering risks, politically exposed persons, and even INTERPOL investigations to be naturalized.
Since the program's end, the Cypriot government has initiated procedures to revoke the citizenships of hundreds of these individuals and their relatives. The so-called 'golden passport' scheme, which was heavily criticized for its flaws and abuses, no longer exists and cannot be legally reinstated.
Authorities are now focusing on clarifying what constitutes a legitimate 'investor' and redefining the types of investments Cyprus wants to attract, aiming to restore trust and integrity to the process of economic contributions and citizenship policies.
CYPRadar is a state-of-the-art, AI-powered Cyprus news aggregator that automatically crawls, filters, and translates local updates in real time. By continuously scanning a wide range of trusted Cypriot media outlets, blogs, and official RSS feeds, the platform identifies original stories and uses advanced language models to filter out duplicate coverage. The service then generates concise, objective summaries, ensuring that readers get a quick and clear understanding of every significant event without information overload.
The primary mission of CYPRadar is to provide comprehensive, multi-language coverage of Cyprus news to keep both residents and international visitors well-informed. The platform covers key events across all major cities and districts, including Nicosia, Limassol, Larnaca, Paphos, and Famagusta. By offering all updates simultaneously in five languages — English, Russian, Greek, Ukrainian, and Turkish — CYPRadar bridges communication gaps and ensures that everyone has equal access to critical local information, from policy changes to community events.
Monitor economic trends, financial regulations, and business news in Cyprus. Follow corporate developments, banking sector updates, inflation reports, tax changes, investment growth, and real estate market performance.