EU Pushes Cyprus Over Golden Visa Sales to Rich Foreigners

FILE - An aircraft takes position for landing at Larnaca airport as the moon rises in southern coastal city of Larnaca, Cyprus, on Wednesday, Oct. 4, 2017. (AP Photo/Petros Karadjias)

NICOSIA – The European Commission wants Cyprus to explain whether there will be a further investigation into “possible misconduct” by 26 wealthy foreigners who had their Golden Visa residency permits and European Union passports revoked.

The commission sent a letter to the Cypriot government seeking clarification of the yanking of the visas, with the news agency Reuters – which broke stories about the permits given people who hadn’t been properly vetted for possible wrongdoing – saying the EU wants answers as to how the visas won’t be given to those engaged in criminal activity.

Critics said Cyprus’ scheme is especially susceptible to money laundering and has given foreign criminals a place to hide their money and themselves with the EU now wanting to know how the government plans to sort out high-risk applicants and recipients, the news agency said after reporting it had seen the communication.

The EU commission wants an answer by Jan. 6, the report said.

The Cypriot newspaper Politis published the names after the government would only reveal the nationalities. The names included those of families of the wealthy investors, including Malaysian Jho Taek Low, a fugitive wanted for his alleged role in the 1MDB scandal — the embezzlement scam uncovered in 2015.

That country’s then-Premier was accused of funneling more than $700 million from a state-run development company, to his personal bank accounts. Since then, other players involved, allegedly including Low, were being tracked by authorities.

Politis’ list adds more detail to a previous report by the news agency Reuters about the government’s plan to react to criticism and revoking the residency permits and passports that allowed free travel within the 28-country EU.

The list includes eight Cambodians with political or familial ties to Cambodia’s current ruling party as well as Russian businessman Oleg Deripaska, currently under US Treasury sanctions and who the Organized Crime and Corruption Reporting Project (OCCRP) in 2018 reported that’s how he had obtained Cypriot citizenship.

Also also facing revocation of the passports are multi-millionaire Kenyan businessman Humphrey Kariuki and his wife. He was charged in his country for tax evasion from his alcohol production and distribution business, said Kenyan news reports.

1 Comment

  1. The EU..wants an Answer from the sovereign government of Cyprus by January 5th.

    Really, the corrupt EU who supported mobsters running the U.S government and EU members countries in killing 3 1/2 million foreign citizens in the Middle East .. and responsible for war crimes thruout the Middle East , and breakng international laws by supporting the attempted overthrow of the Venezuelan government ..tell the people of Cyprus that they must possibly fabricate charges against foreign investors and residents bringing in tons of money for Cyprus!

    As we have seen the politicizing of the Justice System of the US and UK to fabricate the Russian Gate scandal, without any evidence, oe the use of Chemical Weapons by the Syrian government which has now been exposed as a justify bombing Syria by U.S , France , and UK support andy number of Terrorist in Syria to overthrow the elected leaders of another EU and Nato project ..which include despicably starving the people of Syria by embargoing their oil imports and prevent them from rebuilding their country and fighting U.S and EU members proxy terrorist armies which have been recently exposed!…

    The EU simply a Marxist Stalinist central government ..that is doing what Nazi Germany did not complete..taking over the sovereignty of the independent countries of Europe like Greece and Cyprus , with the cooperation of corrupt ruling parties and government , like Greece and Cyprus.

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