Are Lawyers to Blame?
How Cyprus's legal profession became the enablers of the foreign land and property takeover, money laundering, and the displacement of local communities.
The Money Trail
Cyprus lawyers have built a lucrative industry around foreign property speculation
Legal Fees from Foreign Property Sales
Annual revenue
Lawyers Specializing in Foreign Investment
In Cyprus
Average Legal Fees for Foreign Buyers
Per property
Time to Process Foreign vs Local Sales
Speed ratio
How Lawyers Enable the Crisis
The legal profession has become the facilitating infrastructure for Cyprus's housing crisis
The Facilitators
Making foreign property purchases smooth while ignoring the consequences for local communities
The Profiteers
Earning massive fees from foreign transactions while locals can't afford legal services
The Blind Eye
Ignoring suspicious cash transactions and beneficial ownership structures
The Gatekeepers
Creating an insider network where foreign money flows easily but locals face barriers
The Lawyer Playbook
How legal professionals profit from Cyprus's property crisis
Express Services for Foreign Buyers
Same-day processing for foreign cash buyers
Impact on Cyprus:
Prices out local buyers who need time for financing
Offshore Company Structures
Complex ownership structures to hide beneficial owners
Impact on Cyprus:
Enables money laundering and tax avoidance
Golden Passport Facilitation
Helped wealthy foreigners buy citizenship
Impact on Cyprus:
Sold Cyprus citizenship to the highest bidders
Bulk Property Processing
Industrial-scale property transfers for foreign investors
Impact on Cyprus:
Treats Cyprus real estate like a commodity
The Golden Passport Years
Between 2013-2020, Cyprus lawyers facilitated the sale of EU citizenship to over 4,000 wealthy foreigners. The scheme required a €2M+ investment, but lawyers found creative ways to circumvent even these minimal requirements.
Law firms marketed Cyprus citizenship globally, setting up networks of agents and creating a citizenship-for-sale industry worth billions. When the scheme was exposed and shut down, many lawyers simply pivoted to other forms of foreign investment facilitation.
The Lawyer's Role
Legal professionals didn't just process applications - they actively marketed Cyprus citizenship as a commodity, treating European passports like luxury goods for the global elite.
Golden Passport Numbers
What Ethical Lawyers Could Do
The legal profession could be part of the solution instead of part of the problem
Local First Policies
Prioritizing legal services for Cypriot families and local businesses
Transparent Ownership
Refusing to set up opaque ownership structures
Community Impact Assessment
Considering how large property sales affect local communities
Fair Pricing
Offering affordable legal services to local buyers
Beneficial Ownership Disclosure
Ensuring all property ownership is transparent and traceable
Anti-Money Laundering
Strict verification of funds sources and reporting suspicious transactions
Legal Reform is Needed
Cyprus needs lawyers who serve the public interest, not just wealthy foreign clients. The legal profession must be held accountable for its role in the housing crisis and corruption that plagues our island.
CyprusCoin: Supporting Legal Accountability
When CyprusCoin reaches $100M market cap, we'll fund leaders who will reform the legal profession and ensure lawyers serve Cyprus, not foreign speculators. We need transparency in legal fees, ethical standards, and accountability for enabling corruption.