Ex-Google chief secures Cyprus citizenship through investment program: report
The controversial program was ended earlier this month
Applico CEO Alex Moazed on the DOJ’s lawsuit against Google as the company calls it ‘deeply flawed.’
Ex-Google CEO Eric Schmidt has reportedly taken advantage of a program to obtain citizenship in Cyprus.
The Cypriot government offered two “golden visa” programs – one for citizenship and one for residency – in exchange for investment in the country.
Schmidt, along with his wife and daughter, has all secured approval to become citizens, according to a report from Recode on Monday, which cited a notice in a Cypriot publication.
As a member of the European Union, the passport allows recipients to travel freely throughout the bloc.
A spokesperson for Schmidt did not return Fox Business’ request for comment.
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As noted by Recode, the majority of people who have taken advantage of the program are wealthy Russian oligarchs – while American participants have been much harder to come by.
Schmidt is likely to have applied between six to 12 months ago, the report noted, possibly motivated by the coronavirus outbreak and related travel restrictions.
According to The New York Times, the passport program has netted the country about $7 billion.
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The program came under fire following an investigation by Al Jazeera, which allegedly showed officials attempting to help a criminal obtain citizenship.
Schmidt served as Google CEO from 2001 through 2011, and served on the board of Google’s parent company, Alphabet, until 2019.
Schmidt’s net worth is more than $17 billion, according to Forbes.