Cypriot authorities are launching a process of removing citizenships from a total of 68 investors and 165 dependents next week, following a cabinet decision last Wednesday that looked into a relevant investigation by the Ministry of the Interior on criminal offences pending against the said investors, who secured passports in the framework of the now defunct Cyprus Investment Programme.
This phase of the ‘de-citizenship’ action, involves a total of 18 investors and their dependents, amongst them three Chinese citizens, two Russians and an Indian man. Beyond these running cases, the government has completed the process of taking away passports from a total of 14 people and 30 dependents, cancelling any relevant travel documents.
The foreign nationals who will be stripped of their Cyprus citizenship include Russian Pavel Vedkhoff, his wife and two children, Chinese Li Jianxin, Indian Virkaran Avasti, his wife and two children, Chinese John Ninglin, his wife and two children, Chinese Zu Jiongbiao, his wife and child and Russian Igor Iganof, his wife and two children.
More to the specifics of the various investor files, the Vedkhoff decision was reached following coordination with Interpol who briefed Cypriot authorities that he was being sought by Russia for a number of criminal offences, including fraud, which carry more than 10 years of imprisonment. According to relevant local legislation, people being sought for criminal offences carrying more than five years or any other criminal offence of an ethical nature, committed either on European soil or in third countries, must be stripped of Cypriot citizenship.
On the Jianxin citizenship, the decision to take away his passport was reached following Interpol briefing that he is being sought for a bribe case in China, carrying a life sentence. A bribe charge in Cyprus carries seven years and still falls under the terms of stripping away citizenship from any foreign national, being sought by Interpol.
Indian Virkaran Avasti is internationally sought for defrauding banks and companies, including filing false reports, offences that involve a 10 year sentence in India.
Another case in point is Russian Igor Iganof who is being sought by Interpol on setting up a criminal organisation and large scale fraud, offences carrying more than 20 years imprisonment in Russia.
All 68 investors being stripped of their Cypriot citizenship will be informed in writing as to the reasoning of the decision, with the individuals in question having the right to launch an appeal with the relevant Independent Authority on Citizenship Debarment.
