Cyprus Cracks Down: 304 Lose Citizenship Over Golden Passport Violations

by News Editor

May 6, 2025

The Cypriot government has announced that 304 individuals have had their citizenships revoked following an in-depth investigation into the controversial golden passport scheme, which previously awarded nationality through investments. This thorough examination revealed that many beneficiaries had obtained citizenship by declaring false information or concealing critical data.

The Magnitude of the Issue

The affected group consists of 88 investors and 216 family members. So far, revocation orders have been signed for 112 individuals, including 33 investors and 79 of their relatives, whose documents are now void.

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Since the program’s termination in late 2020 under mounting pressure from the European Union, substantial reviews have led to the exposure of major breaches, such as failing to deposit required funds or misrepresentations of personal circumstances.

Legal Path and Integrity Assurance

In serious cases, some investors didn’t make the necessary financial commitments, and in instances like Jho Low, the infamous financier embroiled in global scandals, legal actions have annulled their Cypriot passports. Under article 113 of Cyprus’ population registration law, there is a clear pathway for affected individuals to appeal through an independent committee.

The Interior Minister Constantinos Ioannou emphasized the government’s commitment to full legal compliance and safeguarding Cyprus’s reputation and values. Moving forward, the government promises rigorous oversight and due process in all future inquiries related to citizenship.

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Cyprus Reduces Fuel Tax By 8.33 Cents As Prices Continue To Rise

by THEFUTURE.TEAM

April 1, 2026

The latest surge in fuel prices is putting unprecedented pressure on consumer purchasing power, forcing government intervention amid volatile global energy markets. Historic highs at the pump have compelled officials to enact further consumption tax cuts in a bid to stabilize household budgets while international trends remain unpredictable.

Government Intervention And Policy Measures

Authorities plan to approve an 8.33 cent per liter reduction in consumption tax on premium unleaded gasoline and diesel, effective from April 2026. This will be the third intervention since 2022, when fuel prices rose following the Russian invasion of Ukraine, and after a further adjustment in November 2023.

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Historical Context And Comparative Analysis

Fuel prices have increased over recent years. In March 2022, premium unleaded stood at €1.442 per liter and diesel at €1.500. By November 2023, prices rose to €1.550 for gasoline and €1.709 for diesel. As of March 2026, gasoline reached €1.571 per liter and diesel €1.819. Compared with 2023 levels, gasoline prices increased by 1.8 cents per liter, while diesel rose by 10.9 cents.

Global Market Dynamics Impacting Local Prices

International benchmarks continue to influence domestic fuel prices. Brent crude remains above $100 per barrel, while the price of heavy Brent oil has increased by about 58% since February 2026. Market indicators such as the Platts Basis Italy index show increases of 52% for gasoline, 89% for diesel, and 88% for heating oil. These trends affect import costs and pricing across the local market.

Consumer Concerns And The Search For Relief

The planned tax reduction may provide short-term relief for transport fuels. Heating oil prices remain higher, reaching about €1.30 per liter, approximately 6 cents above previous levels. No tax reduction has been announced for heating fuel. According to Konstantinos Karagiorgis, reliance on private vehicles increases the impact of fuel price changes on households, given limited public transport options.

Outlook And Future Considerations

The tax reduction is expected to offset part of the recent increase in fuel costs. Consumer groups, including the Cyprus Consumer Association, have called for similar measures on heating oil. Further developments will depend on global energy prices and geopolitical conditions.

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