Eric Schmidt reportedly applied to become a citizen of Cyprus –

Eric Schmidt reportedly applied to become a citizen of Cyprus

Eric Schmidt speaks during a National Security Commission on Artificial Intelligence conference on November 5, 2019 in Washington

Alex Wong | Getty Images

According to a report by Recode on Monday, former Google CEO Eric Schmidt has been approved to become a citizen of Cyprus.

An October notice in the Cypriot publication’s Alithia explicitly announced Schmidt and his family gained approval to become citizens.

According to the report, obtaining citizenship from a European nation would give Schmidt the ability to enter the European Union independently and prohibit certain travel.

He may also receive personal tax benefits due to the “Citizenship by Investment” program that provides tax rebates to foreigners who are worth investing between $ 2 million and $ 3 million.

Schmidt is likely to be granted citizenship within the past year, the report said, and his wife, Wendy, and daughter, Sophie, also applied and were approved.

A representative from Schmidt declined CNBC’s request for comment.

According to Bloomberg’s Billionaire Index, Schmidt was Google’s chief executive from 2001 to 2011, before transitioning to Google’s executive chairman and then Alphabet. As of Sunday it was valued at $ 19.2 billion.

Read the full report from Vox’s Recode.


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