From November 1, the Citizenship for Investment program will be suspended in Cyprus. This was announced by the representative of the Government of Cyprus Kyriakos Koushos.

The decision was taken after an emergency government meeting.

The scandal surrounding the “golden passports” broke out after the publication of Al Jazeera’s revealing materials, which claimed that the country’s top political figures helped the criminals to obtain Cyprus citizenship, thus opening the whole of Europe to them.

The Qatari TV investigation named Cypriot politicians such as Speaker of Parliament Demetris Syllouris and opposition member Akel Christakis Jovanis.

Since the launch of the program in 2013, Cyprus has “earned” more than seven billion euros on its passport program. This money has helped to keep the country’s economy afloat.

Source: In Cyprus