Far more ‘Golden Passports’ revoked – Cyprus Residence News


The Council of Ministers has resolved to revoke the citizenship of four even more Russians and their people who acquired ‘Golden Passports’ less than the island’s disgraced Citizenship by Investment decision plan that was introduced to an abrupt stop in November 2020.

The four Russians have been sanctioned in the latest spherical of EU sanctions adhering to 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 eliminate their ‘Golden Passports’.

Grigory Berezkin acquired Cypriot Citizenship in Oct 2012. He is a distinguished businessman and regarded as to be faithful to Vladimir Putin. Berezkin is Chairman of the Board of ESN Group, a Russian private investment group with a portfolio of investments in different sectors, such as media, power, infrastructure, normal resources, and the petrochemical sector.

Oleg Deripaska acquired Cypriot citizenship in 2017 and his fortune is estimated at US$ 23 billion. The US imposed sanctions on Deripaska, who has managed a person of the world’s greatest aluminium firms for 4 several years on Deripaska has also been sanctioned by the Cyprus since the Russian invasion of Ukraine.

Igor Kasayev obtained Cypriot citizenship in May possibly 2012. He is shown on the Forbes list of billionaires and his fortune is estimated at US$ 3.1 billion. Kasayev’s ‘clan’, which is composed of nine dependents: his spouse, kids and grandchildren will also shed their ‘Golden Passports’.

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

Previously this thirty day period, four people today and their seventeen relatives associates shed their ‘Golden Passports’. Phileleftheros reports that the most current four people today to be stripped of their Cypriot citizenship have eleven dependants who ended up also granted citizenship.

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

Legal Companies will fulfill in Could to think about more than 100 ‘Golden Passport’ situations that came to gentle through the investigation headed up by previous supreme court docket decide Myron Nikolatos.

Also expected in May are developments about 5 individuals highlighted in the Al Jazeera exposé.

Cyprus issued 6779 ‘Golden Passports’ beneath its disgraced Citizenship by Financial investment scheme, 2886 of which ended up issued Russian and their spouse and children customers according to studies.

It is been estimated that approximately 45,000 Russians stay in Cyprus, pretty much 6% of the Republic’s population.