Cyprus still has no intention of ending its much criticised citizenship by investment programme (see EUROPE 12157/38), despite further pressure from the European Commission.
On Tuesday 21 April, Christian Wigand, a Commission spokesperson, confirmed that, on 1 April, the Commission again sent a series of letters to Cyprus, and also to Malta and Bulgaria, on the subject of their citizenship and residency by investment programmes.
The three countries’ programmes, which are often referred to as ‘golden visas’, have been in the Commission's sights for a long time. The Commission's criticism of the visas stems from the fact that they are granted to foreign nationals without checks or transparency, thereby allowing certain unscrupulous investors to launder money in the EU (see EUROPE 12178/2).
A Cypriot official has confirmed to EUROPE that Nicos Nouris, the Minister of the Interior, has received the letter and has already replied to it. “At present there are no plans to suspend this programme which, as already explained, operates under a very strict framework”, he said.
Cyprus strengthened its inspections and checks in May 2019. Nouris explained that, in February, he presented the new measures to EU Justice Commissioner Didier Reynders and has already responded “to any questions which were raised”.
As this communication took place between the Commission and the Member States, the Commission spokesperson refused to provide details of the contents of the letters and to confirm that the letters requested that the programmes be phased out. (Original version in French by Marion Fontana)