Cyprus Golden Passport Program Proposed to Be Put On Hold; The Cypriot citizenship by investment program should be put on hold until politicians reach a consensus on whether it has a future at all. This was announced on Monday by the Speaker of the Cypriot Parliament Demetris Siluris.
According to financialmirror.com , D. Silouris told reporters that he would send a letter to President Nikos Anastasiadis calling for a meeting of party leaders to discuss the prospects for the popular citizenship by investment program.
The Speaker of Parliament said his goal was to dispel any doubts about the program. If it turns out that the parties do not have a common conviction that it is good and necessary, then “there should be no program.”
In addition, in his opinion, Cypriot passports should be taken away from suspected foreign investors.
According to the politician, if the parties agree that the program should be preserved, they must submit proposals to the country’s president for its improvement. But even then, he believes, the issuance of passports should be suspended until regulation is modernized.
The publication notes that the program was again in the spotlight after the publication by Al Jazeera of a series of materials (following the leak of more than 1,400 documents) that represent Cyprus as a country that actually sells passports to not the most deserving applicants.