A lot more ‘Golden Passports’ revoked – Cyprus Residence News


The Council of Ministers has made a decision to revoke the citizenship of four even further Russians and their households who received ‘Golden Passports’ below the island’s disgraced Citizenship by Financial commitment plan that was brought to an abrupt close in November 2020.

The 4 Russians have been sanctioned in the newest spherical of EU sanctions next the Russian invasion of Ukraine. The four have been named in the regional media as Grigory Berezkin, Oleg Deripaska, Igor Kasayev and Gulbakor Ismailova their eleven dependents will also shed their ‘Golden Passports’.

Grigory Berezkin acquired Cypriot Citizenship in October 2012. He is a prominent businessman and regarded to be faithful to Vladimir Putin. Berezkin is Chairman of the Board of ESN Group, a Russian personal investment team with a portfolio of investments in numerous sectors, which include media, electricity, infrastructure, organic sources, and the petrochemical sector.

Oleg Deripaska obtained Cypriot citizenship in 2017 and his fortune is estimated at US$ 23 billion. The US imposed sanctions on Deripaska, who has controlled one of the world’s major aluminium businesses for four yrs on Deripaska has also been sanctioned by the Cyprus due to the fact the Russian invasion of Ukraine.

Igor Kasayev obtained Cypriot citizenship in May 2012. He is mentioned on the Forbes listing of billionaires and his fortune is believed at US$ 3.1 billion. Kasayev’s ‘clan’, which consists of 9 dependents: his wife, small children and grandchildren will also eliminate their ‘Golden Passports’.

Gulbakor Ismailova obtained Cypriot citizenship in 2015. She is the sister of the Russian tycoon, Alisher Usmanov whose fortune is believed at US$ 19.5 billion.

Previously this thirty day period, four folks and their seventeen spouse and children associates misplaced their ‘Golden Passports’. Phileleftheros reviews that the most recent four people to be stripped of their Cypriot citizenship have eleven dependants who were also granted citizenship.

The overall quantity of individuals who have been stripped of their Cypriot citizenship as a consequence of Russia’s invasion of Ukraine stands at 36.

Authorized Solutions will meet up with in Could to consider a lot more than 100 ‘Golden Passport’ situations that arrived to gentle during the investigation headed up by former supreme court docket judge Myron Nikolatos.

Also expected in Could are developments concerning 5 people today highlighted in the Al Jazeera exposé.

Cyprus issued 6779 ‘Golden Passports’ underneath its disgraced Citizenship by Financial commitment plan, 2886 of which were issued Russian and their loved ones members in accordance to experiences.

It’s been approximated that roughly 45,000 Russians reside in Cyprus, just about 6% of the Republic’s inhabitants.