European Commission Spokesman Christian Wigant told CNA that the authorities in Cyprus need to end the golden passports scheme in its entirety and stop processing the pending applications as this is in violation of EU Law. He further explained that if and when the authorities end the program in its entirety, then the Commission will look into this, but for the time being it is up to Cyprus to respond to the concerns addressed by the Commission reasoned opinion issued Wednesday.
More specifically, European Commission Spokesman Christian Wigant told CNA that “yesterday, the European Commission took the next steps in the infringement procedures regarding the investor citizenship schemes operated by Cyprus and Malta, also referred to as ‘golden passport’ schemes”.
Source: Cyprus News Agency