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The decision comes after the House passed an amendment to the Civil Registry Law, facilitating the rules for granting Cypriot citizenship to internationals. SchengenVisaInfo.com Report.
The bill was introduced by Dicko MP Nicholas Papadopoulos, who stressed that it was not another citizenship programme.
This has nothing to do with investing [in Cyprus] But with knowledge. Its objective is to attract qualified experts in specific fields. Investing in research and innovation means investing in our country's future, which will have huge economic benefits.
He emphasized that this is not a golden passport program but a golden knowledge program.
This is not a golden passport program, but a golden knowledge program.
Papadopoulos said interested individuals must have a working knowledge of the Greek language, be financially self-sufficient and have no criminal record.
Additionally, family members of these applicants will also be eligible for citizenship, provided they have resided legally and continuously in this country during the preceding 12 months.
The amended law introduces key provisions for the Golden Knowledge Programme:
- Accelerating citizenship for internationals engaged in the research and innovation sector.
- Proficiency in Greek language required for applicants.
- Financial Freedom
- clean criminal record
- Citizenship eligibility also extends to family members of applicants.
The streamlined processing of these citizenship requests ensures completion within a period of eight months.
The new changes have also been welcomed by Aristos Damianou of Akel, stressing that a large number of technocrats are already resident on the island and their children have an excellent knowledge of Greek.
We are not talking about the Jho Lo incident.
He said research and innovation companies bring a total of €3.2 billion to Cyprus, noting that about 70 percent of their employees are Cypriot citizens.
In addition to attracting tech talent to Cyprus, the new amendments aim to encourage the retention of skilled workers in the country and contribute to the country's economic growth.
Cyprus's Golden Passport program was ended in 2020 by authorities in that country, after an Al Jazeera report titled Cyprus Papers revealed that individuals involved in irregular acts were also eligible to benefit from the scheme.
A report by the Audit Office also revealed that the program was dysfunctional in the end, leading to millions in lost public revenue.
Furthermore, local media reports said that a total of 6,779 people benefited from the scheme for the period between 2007 and 2020.
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