Eric Schmidt reportedly has utilized to grow to be a citizen of Cyprus

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Eric Schmidt speaks throughout a Nationwide Safety Fee on Synthetic Intelligence convention November 5, 2019, in Washington

Alex Wong | Getty Photographs

Former Google CEO Eric Schmidt has been accepted to grow to be a citizen of Cyprus, based on a report Monday from Recode.

An October discover in Alithia, a Cypriot publication, apparently introduced Schmidt and his household had gained approval to grow to be residents.

Acquiring citizenship from the European nation would give Schmidt the flexibility to freely enter European Union and skirt some journey bans, based on the report.

He may additionally acquire private tax advantages as a result of “Citizenship by Funding” program that gives tax breaks to foreigners who put down between $2 million and $3 million price of funding.

Schmidt seemingly utilized for citizenship throughout the previous 12 months, the report stated, and his spouse, Wendy, and daughter, Sophie, additionally utilized and have been accepted.

A consultant for Schmidt declined CNBC’s request for remark.

Schmidt was Google’s chief government from 2001 to 2011, earlier than he transitioned to government chairman of Google after which Alphabet till 2018. He was price round $19.2 billion as of Sunday, based on Bloomberg’s Billionaire Index.

Read the full report from Vox’s Recode.

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