Cyprus on Tuesday scrapped a lucrative program granting citizenship to wealthy investors amid new allegations that a top state official and a veteran lawmaker were implicated in attempts to bypass strict vetting rules and issue a passport to a fictitious investor with a supposed criminal record. 
Cyprus government spokesman Kyriakos Koushos said the Cabinet accepted a recommendation by the minsters of the interior and finance to cancel altogether the “golden passport” program that has netted billions of euros over several years.

Koushos said the decision, which goes into effect Nov. 1, was based on the Cyprus Investment Program''s “long-standing weaknesses, but also the abuse” of its provisions.

He said the government would in due course look at different ways of attracting foreign investment.

<a href="https://www.wionews.com/world/north-cyprus-to-reopen-disputed-ghost-town-with-turkish-backing-333109">Also read:&nbsp;North Cyprus to reopen disputed 'ghost town' with Turkish backing</a>

The allegations surfaced in an hour-long undercover report by Al Jazeera''s investigative unit that used hidden cameras to show Parliamentary Speaker Demetris Syllouris and lawmaker Christakis Giovanis pledging “full support” to granting a passport to a fictitious Chinese investor, despite a money laundering conviction against him.

The report also showed lawyer Andreas Pittadjis, real estate agents and others outlining to a man posing as a representative for the Chinese investor different ways to skirt background checks, including a name change or granting citizenship through his wife.

Both Pittadjis and Giovanis strongly denied the allegations, saying they were fully aware that the approach was bogus and that they only played along to extract more information from the “representative” in order to file a report with Cypriot law enforcement authorities.

Giovanis on Tuesday resigned his seat in the Cypriot parliament and quit his duties as a member of the communist-rooted AKEL party.

<a href="https://www.wionews.com/world/cyprus-to-bear-expenses-of-tourists-who-test-positive-for-covid-19-upon-visit-302026">Also read:&nbsp;Cyprus to bear expenses of tourists who test positive for COVID-19 upon visit</a>

Cypriot Attorney-General George Savvides said that he instructed police to initiate an “in-depth police investigation" to determine if any criminal acts had been committed.

European Commission spokesman Christian Wigand said the bloc''s executive body is looking into launching infringement proceedings against Cyprus.

“We watched in disbelief how high-level officials were trading European citizenship for financial gains,” Wigand told reporters in Brussels. European Commission “President (Ursula) von der Leyen was clear when saying European values are not for sale.” Wigand said the Commission had frequently raised concerns about such investor citizenship schemes and also directly with Cypriot authorities.

Outraged Cypriots took to social media to heap scorn on the officials, with many calling for Syllouris'' resignation.

In a statement on Tuesday, Syllouris said that he would step back from his duties as of next week until an investigation is completed. He apologized for the “unfortunate picture” and upheaval that the “staged and fragmented” report gave and which allowed his reputation and that of the institution of House Speaker to be sullied.

Cypriot officials had earlier accused Al Jazeera of an orchestrated smear campaign against the ethnically split island nation.

The program has attracted many foreigner investors because a Cyprus passport automatically grants its holder citizenship access to the entire 27-member European Union. Around 4,000 Cypriot passports have been issued to investors under the program, generating more than 7 billion euros ($8.25 billion).

The Cyprus government has conceded that “mistakes” were made and has beefed up eligibility criteria in recent years. The most recent changes that lawmakers approved in August include new anti-money-laundering vetting rules and making it easier to revoke the citizenship of investors involved in or convicted of a serious crime.

Despite the stricter rules, the program continued to be hounded by allegations of corruption, kickbacks and favoritism.

Cyprus'' Audit Office last month urged lawmakers to rethink legislation that empowered the government to grant citizenship to investors'' family members.

Cyprus Security and Exchange Commission recommended last month that authorities revoke citizenship from seven individuals who submitted forged documents in their application.

An independent committee has been set up to probe thousands of applications that were made since 2007. The investment program had gathered pace after 2013, when a financial crisis nearly brought Cyprus to bankruptcy.

Cyprus on Tuesday scrapped a lucrative program granting citizenship to wealthy investors amid new allegations that a top state official and a veteran lawmaker were implicated in attempts to bypass strict vetting rules and issue a passport to a fictitious investor with a supposed criminal record.

Cyprus on Tuesday scrapped a lucrative program granting citizenship to wealthy investors amid new allegations that a top state official and a veteran lawmaker were implicated in attempts to bypass strict vetting rules and issue a passport to a fictitious investor with a supposed criminal record. Cyprus government spokesman Kyriakos Koushos said the Cabinet accepted a recommendation by the minsters of the interior and finance to cancel altogether the “golden passport” program that has netted billions of euros over several years. Koushos said the decision, which goes into effect Nov. 1, was based on the Cyprus Investment Program''s “long-standing weaknesses, but also the abuse” of its provisions. He said the government would in due course look at different ways of attracting foreign investment. Also read: North Cyprus to reopen disputed 'ghost town' with Turkish backing The allegations surfaced in an hour-long undercover report by Al Jazeera''s investigative unit that used hidden cameras to show Parliamentary Speaker Demetris Syllouris and lawmaker Christakis Giovanis pledging “full support” to granting a passport to a fictitious Chinese investor, despite a money laundering conviction against him. The report also showed lawyer Andreas Pittadjis, real estate agents and others outlining to a man posing as a representative for the Chinese investor different ways to skirt background checks, including a name change or granting citizenship through his wife. Both Pittadjis and Giovanis strongly denied the allegations, saying they were fully aware that the approach was bogus and that they only played along to extract more information from the “representative” in order to file a report with Cypriot law enforcement authorities. Giovanis on Tuesday resigned his seat in the Cypriot parliament and quit his duties as a member of the communist-rooted AKEL party. Also read: Cyprus to bear expenses of tourists who test positive for COVID-19 upon visit Cypriot Attorney-General George Savvides said that he instructed police to initiate an “in-depth police investigation" to determine if any criminal acts had been committed. European Commission spokesman Christian Wigand said the bloc''s executive body is looking into launching infringement proceedings against Cyprus. “We watched in disbelief how high-level officials were trading European citizenship for financial gains,” Wigand told reporters in Brussels. European Commission “President (Ursula) von der Leyen was clear when saying European values are not for sale.” Wigand said the Commission had frequently raised concerns about such investor citizenship schemes and also directly with Cypriot authorities. Outraged Cypriots took to social media to heap scorn on the officials, with many calling for Syllouris'' resignation. In a statement on Tuesday, Syllouris said that he would step back from his duties as of next week until an investigation is completed. He apologized for the “unfortunate picture” and upheaval that the “staged and fragmented” report gave and which allowed his reputation and that of the institution of House Speaker to be sullied. Cypriot officials had earlier accused Al Jazeera of an orchestrated smear campaign against the ethnically split island nation. The program has attracted many foreigner investors because a Cyprus passport automatically grants its holder citizenship access to the entire 27-member European Union. Around 4,000 Cypriot passports have been issued to investors under the program, generating more than 7 billion euros ($8.25 billion). The Cyprus government has conceded that “mistakes” were made and has beefed up eligibility criteria in recent years. The most recent changes that lawmakers approved in August include new anti-money-laundering vetting rules and making it easier to revoke the citizenship of investors involved in or convicted of a serious crime. Despite the stricter rules, the program continued to be hounded by allegations of corruption, kickbacks and favoritism. Cyprus'' Audit Office last month urged lawmakers to rethink legislation that empowered the government to grant citizenship to investors'' family members. Cyprus Security and Exchange Commission recommended last month that authorities revoke citizenship from seven individuals who submitted forged documents in their application. An independent committee has been set up to probe thousands of applications that were made since 2007. The investment program had gathered pace after 2013, when a financial crisis nearly brought Cyprus to bankruptcy.

Cyprus cancels maligned 'golden passport' scheme

Many rich Chinese are leaving China for better education systems elsewhere and to flee the country's polluted cities and strict government. They're also looking to protect their wealth.

Information based on leaked documents reveal that China's richest woman, Yang Huiyan, &nbsp;is among the 500 other wealthy Chinese people, who have obtained European Union (EU) citizenship by purchasing a 'golden passport' in Cyprus.

According to reports, Yang is among more than 500 high-net-worth Chinese citizens who have acquired "golden passports" by each investing at least 2 million Euros (US$2.3 million).

Since the tiny island country is a member of the EU, obtaining a Cypriot passport has become a backdoor to quickly enable wealthy individuals to gain EU citizenship.

While Cyprus is opening its doors to the Chinese, Beijing is shutting doors into Wuhan. 
 
The WHO team investigating the outbreak did not go there.The team had gone to China only to lay the groundwork for the visit of a full international mission.

An MP of the ruling party in Australia Dave Sharma has slammed the WHO and said: "The international community is right to have serious concerns about the rigour and independence of the WHO’s early response to this pandemic, and its seeming wish to avoid offending China."

But the Director General of the WHO Dr Tedros said that the investigators will travel to Wuhan. 
 
"When the international group of experts are put together then of course naturally they will travel to Wuhan to start the study, because it is the basics of inquiries like these to start the study from where the first report came,” said Dr Tedros Adhanom Ghebreyesus, Director-General, WHO.

Meanwhile, Chinese foreign ministry spokesperson Zhao Lijian has this message for US President Donald Trump.

If America bans Wechat - we will stop using iPhones.

Zhao Lijian tweeted Friday that "If WeChat is banned, then there will be no reason why Chinese shall keep iPhone and apple products". Zhao had already on Thursday said, "many Chinese people are saying they may stop using iPhones if WeChat is banned in the US", and accused the US of "systematic economic bullying of non-US companies" by targeting the Chinese app.

"I use Apple, but I also love my country," one user on the Twitter-like Weibo platform. "It's not a conflict."&nbsp;

"No matter how good Apple is, it's just a phone. It can be replaced, but WeChat is different," another user argued. "Modern Chinese people will lose their soul if they leave WeChat, especially business people." 
WeChat, known in mainland China as Weixin, has more than 1.2 billion active users.&nbsp;

Beijing had compelled Apple to move its servers to China so that they can censor the content on iPhones.

Many rich Chinese are leaving China for better education systems elsewhere and to flee the country's polluted cities and strict government. They're also looking to protect their wealth.

Many rich Chinese are leaving China for better education systems elsewhere and to flee the country's polluted cities and strict government. They're also looking to protect their wealth. Information based on leaked documents reveal that China's richest woman, Yang Huiyan, is among the 500 other wealthy Chinese people, who have obtained European Union (EU) citizenship by purchasing a 'golden passport' in Cyprus. According to reports, Yang is among more than 500 high-net-worth Chinese citizens who have acquired "golden passports" by each investing at least 2 million Euros (US$2.3 million). Since the tiny island country is a member of the EU, obtaining a Cypriot passport has become a backdoor to quickly enable wealthy individuals to gain EU citizenship. While Cyprus is opening its doors to the Chinese, Beijing is shutting doors into Wuhan. The WHO team investigating the outbreak did not go there.The team had gone to China only to lay the groundwork for the visit of a full international mission. An MP of the ruling party in Australia Dave Sharma has slammed the WHO and said: "The international community is right to have serious concerns about the rigour and independence of the WHO’s early response to this pandemic, and its seeming wish to avoid offending China." But the Director General of the WHO Dr Tedros said that the investigators will travel to Wuhan. "When the international group of experts are put together then of course naturally they will travel to Wuhan to start the study, because it is the basics of inquiries like these to start the study from where the first report came,” said Dr Tedros Adhanom Ghebreyesus, Director-General, WHO. Meanwhile, Chinese foreign ministry spokesperson Zhao Lijian has this message for US President Donald Trump. If America bans Wechat - we will stop using iPhones. Zhao Lijian tweeted Friday that "If WeChat is banned, then there will be no reason why Chinese shall keep iPhone and apple products". Zhao had already on Thursday said, "many Chinese people are saying they may stop using iPhones if WeChat is banned in the US", and accused the US of "systematic economic bullying of non-US companies" by targeting the Chinese app. "I use Apple, but I also love my country," one user on the Twitter-like Weibo platform. "It's not a conflict." "No matter how good Apple is, it's just a phone. It can be replaced, but WeChat is different," another user argued. "Modern Chinese people will lose their soul if they leave WeChat, especially business people." WeChat, known in mainland China as Weixin, has more than 1.2 billion active users. Beijing had compelled Apple to move its servers to China so that they can censor the content on iPhones.

China’s rich are leaving the country in drove

Information based on leaked documents reveal that China's richest woman, Yang Huiyan, &nbsp;is among the 500 other wealthy Chinese people, who have obtained European Union (EU) citizenship by purchasing a 'golden passport' in Cyprus. 
 
<a href="https://www.wionews.com/south-asia/chinese-banks-looking-to-curtail-investments-in-cpec-due-to-instability-in-pakistan-323485">Also read | Chinese banks looking to curtail investments in CPEC due to instability in Pakistan</a> 
 
According to reports, Yang is among more than 500 high-net-worth Chinese citizens who have acquired "golden passports" by each investing at least 2 million Euros (US$2.3 million). 
 
<a href="https://www.wionews.com/world/more-than-50-chinese-citizens-like-modi-government-global-times-323285">Also read | More than 50% Chinese citizens like Modi government: Global Times</a> 
 
Since the tiny island country is a member of the EU, obtaining a Cypriot passport has become a backdoor to quickly enable wealthy individuals to gain EU citizenship.

There are total 2500 listed names in these documents. Among the names 500 are from China and 350 from the Middle East.

What is Cyprus's 'golden passport'

Cyprus has had a citizenship for investment plan in place since 2013, under which a minimum 2 million-euro investment can buy a passport and visa-free travel throughout the European Union.

Authorities say the programme has gone through several transformations, and was overhauled in February 2019 with five different due-diligence layers, compared with one in 2013.

Full list not disclosed

Al Jazeera did not disclose the full list of immigrants who were granted citizenship in Cyprus under the so-called golden passports programme, as the disclosure focuses on people with track records that could violate rules for obtaining the European Union citizenship. Among the more than 500 approved Chinese applicants, the Qatari broadcaster provided eight names, led by Yang Huiyan, a principal owner of Chinese property developer Country Garden.

Yang was named by Forbes as the sixth-richest woman in the world in 2020 with a fortune of $20.3 billion. It is legal for the Chinese citizens to apply for permanent residency or citizenship in foreign countries. However, China does not recognise dual nationality.

Among the eight Chinese applicants named by Al Jazeera, five, including Yang, were disclosed because they could be viewed as "politically exposed persons" for their own membership or their family's membership in the Chinese legislature and political consultative committees, the Post report said. Yang's wealth came mainly from her father, Yeung Kwok Keung who is a member of the Chinese People's Political Consultative Conference (CPPCC), the top political consultative body to Beijing.

The leaked documents showed that Yang was granted Cypriot citizenship on October 23, 2018. The second Chinese "politically exposed person" is Lu Wenbin, a delegate to the Chengdu People's Congress.

According to the documents provided by Al Jazeera, Lu obtained a Cypriot passport in July 2019. Lu is the chairman of Sichuan Troy Information Technology, a computer-networking firm based in the city.

(With inputs from agencies)

Information based on leaked documents reveal that China's richest woman, Yang Huiyan, is among the 500 other wealthy Chinese people, who have obtained European Union (EU) citizenship by purchasing a 'golden passport' in Cyprus.

Information based on leaked documents reveal that China's richest woman, Yang Huiyan, is among the 500 other wealthy Chinese people, who have obtained European Union (EU) citizenship by purchasing a 'golden passport' in Cyprus. Also read | Chinese banks looking to curtail investments in CPEC due to instability in Pakistan According to reports, Yang is among more than 500 high-net-worth Chinese citizens who have acquired "golden passports" by each investing at least 2 million Euros (US$2.3 million). Also read | More than 50% Chinese citizens like Modi government: Global Times Since the tiny island country is a member of the EU, obtaining a Cypriot passport has become a backdoor to quickly enable wealthy individuals to gain EU citizenship. There are total 2500 listed names in these documents. Among the names 500 are from China and 350 from the Middle East. What is Cyprus's 'golden passport' Cyprus has had a citizenship for investment plan in place since 2013, under which a minimum 2 million-euro investment can buy a passport and visa-free travel throughout the European Union. Authorities say the programme has gone through several transformations, and was overhauled in February 2019 with five different due-diligence layers, compared with one in 2013. Full list not disclosed Al Jazeera did not disclose the full list of immigrants who were granted citizenship in Cyprus under the so-called golden passports programme, as the disclosure focuses on people with track records that could violate rules for obtaining the European Union citizenship. Among the more than 500 approved Chinese applicants, the Qatari broadcaster provided eight names, led by Yang Huiyan, a principal owner of Chinese property developer Country Garden. Yang was named by Forbes as the sixth-richest woman in the world in 2020 with a fortune of $20.3 billion. It is legal for the Chinese citizens to apply for permanent residency or citizenship in foreign countries. However, China does not recognise dual nationality. Among the eight Chinese applicants named by Al Jazeera, five, including Yang, were disclosed because they could be viewed as "politically exposed persons" for their own membership or their family's membership in the Chinese legislature and political consultative committees, the Post report said. Yang's wealth came mainly from her father, Yeung Kwok Keung who is a member of the Chinese People's Political Consultative Conference (CPPCC), the top political consultative body to Beijing. The leaked documents showed that Yang was granted Cypriot citizenship on October 23, 2018. The second Chinese "politically exposed person" is Lu Wenbin, a delegate to the Chengdu People's Congress. According to the documents provided by Al Jazeera, Lu obtained a Cypriot passport in July 2019. Lu is the chairman of Sichuan Troy Information Technology, a computer-networking firm based in the city. (With inputs from agencies)

Asia's richest woman among 500 Chinese who bought 'golden passports' via Cyprus

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