New revelations show that six political parties received a total of €650,000 in donations from individuals connected to the now defunct scheme.
The Cyprus “golden passport” scandal continues to unfold. New revelations show that six political parties received a total of €650,000 in donations from individuals connected to the controversial scheme. These abuses took place during the administration of former President Nicos Anastasiades.
In the coming days, the Anti-corruption authority in Cyprus will release its findings on a complaint lodged in September 2022 by Progressive party of the working people (AKEL) MP Christos Christofides against Democratic rally (DISY). Christofides urged the authority to examine donations made to DISY by investors who had acquired “golden passports”, raising suspicions of potential quid pro quo arrangements.
Cyprus’s “golden passport” scheme allowed foreign investors to obtain citizenship or permanent residency in exchange for substantial financial contributions, often through real estate or business investments. The program ended officially in late 2020 amid corruption concerns exposed by a 2020 Al Jazeera investigation. A distinct “Golden Visa” program for permanent residency through investment persists, requiring a minimum €300,000 investment and an annual income of at least €50,000 from abroad.
A subsequent “golden visa” program, requiring a €300,000 investment, issued 5,800 residency visas by 2023, granting holders free movement within the Schengen area. Under President Nikos Christodoulides, who assumed office in March 2023, Cyprus has intensified efforts to revoke illegally obtained citizenships.
Reportedly, every parliamentary party except the Greens accepted donations from investors
Christofides highlighted contributions from nine foreign investors to DISY’s party fund, made either before or after they secured golden passports, with individual amounts ranging from €20,000 to €50,000 and totaling €251,600. These donations occurred while Averof Neofytou led DISY, and the passports in question were approved by the Cabinet under President Nicos Anastasiades. DISY’s leadership has consistently dismissed the allegations, asserting that all transactions were legal, transparent, and publicly disclosed on the party’s website.
To conduct this investigation, the Anti-corruption authority appointed three inspection officers: former judge Lemonia Kaountzani, criminal-case lawyer Dimitris Tsolakidis, and economist Dimitris Georgiadis.
A separate report from the Audit office, published on 27 May, examined political parties’ compliance with the Political Parties Law from 2016 to 2021. It revealed that every parliamentary party except the Greens accepted donations from investors linked to golden passports. Among the findings were two striking cases involving DISY: in one, a company donated €50,000, and 13 days later, an individual connected to it received a golden passport; in another, a €25,000 donation preceded a passport grant to a linked person by just 10 days, again under Anastasiades’s Cabinet. While other parties also received funds from passport-related individuals and entities, only these DISY cases showed such tight timing between donations and approvals. Overall, the Audit office identified €650,000 in such donations across parties: €251,600 to Democratic rally (DISY), €118,660 to Progressive party of the working people (AKEL), €248,850 to Democratic Party (DIKO), €23,000 to Democratic Alignment (DIPA), €5,000 to National popular front (ELAM), and €3,000 to Movement for social democracy (EDEK).
Given that access to power extends beyond the ruling party to opposition leaders with varying influence, the Anti-corruption authority should broaden its probe to the five other parliamentary parties that received these donations, assessing any potential involvement in passport issuances. This is especially pertinent amid ongoing criminal prosecutions of former House President Demetris Syllouris and former AKEL MP Christakis Tziovanis on related matters.
Separately, the authority is investigating AKEL following a 21 March 2023 complaint by DISY MP Demetris Demetriou to Transparency Commissioner and authority head Charis Poyatzis. The complaint referenced an OCCRP report alleging Russian lobbying efforts funded European parties, including AKEL, to advance parliamentary resolutions favoring Russia’s stance on Crimea—essentially accusing AKEL of promoting Russian propaganda for payment. Efforts continue to obtain further evidence from the report’s authors.
Before year’s end, the authority plans to issue two more reports. One concerns the “Land of Dreams” development in Trimiklini, which has operated since 2012 without permits, involving illegal fish farming, encroachments on state land, unlawful alterations to the Kouris River, water diversion to unauthorized facilities, and unlicensed restaurant and accommodation operations. Scrutiny fell on former ministers, two ministries, one deputy ministry, and 16 services and departments after an Audit Office report sparked parliamentary discussion. The authority launched an ex officio probe to probe possible corruption by officials in overlooking these violations, with former District Court President Nikos Yiapanas leading the inquiry.
In early 2026, the authority will complete its “Mafia state” report on allegations of corruption and abuse involving former President Nicos Anastasiades.
In August, Cyprus revoked the passports of two individuals implicated in Singapore’s massive money-laundering scandal – one of the largest in recent history, involving prominent figures in international finance.
Singapore authorities imposed heavy fines on major institutions, and two Cypriot passport holders were central: Su Haijin, originally from China’s Fujian province, sentenced to 14 months and forfeiting 90–95% of assets worth over $127.05 million USD; and Wang Dehai, who received 16 months and surrendered about 90% of his $37.88 million in assets. Positively, Cypriot authorities, informed from the outset by the Ministry of Interior, swiftly initiated revocation proceedings upon the convictions, aligning with legal protocols. The enduring “golden passport” controversy, which enabled global investors to buy EU citizenship via Cypriot real estate, continues to damage the island’s reputation in discussions on financial security and anti-money laundering.