Philenews

Chinese Investors' Residency Permits Revoked Following Fraud Allegations

Published March 5, 2026, 17:14
Chinese Investors' Residency Permits Revoked Following Fraud Allegations

Three Chinese investors have had their appeals dismissed by the Administrative Court regarding the revocation of their residency permits. The revocation followed the revelation that two of the applicants were wanted by Interpol for financial fraud in China. The investors had initially obtained residency permits in 2014, based on real estate investments and money transfers to Cyprus, as well as clean criminal records. The Court's decision was based on the fact that their stay in Cyprus did not constitute an acquired right and was subject to the discretion of the Minister of Interior. The government, after being informed by Interpol, proceeded with the revocation of the permit and the attempt to extradite them to China, which was however rejected by a court in Paphos. The applicants argued that they had already made significant investments in Cyprus and that their permit had been granted before the allegations against them emerged. However, the Court ruled that the government was entitled to revoke the permit due to the serious allegations and the international arrest warrant. The case highlights the importance of investor vetting and the need for close cooperation with international organizations such as Interpol to prevent the entry and stay of individuals involved in criminal activities.