Eric Schmidt speaks at the National Security Council on Artificial Intelligence in Washington on November 5, 2019
Alex Wong | Getty Images
Former Google CEO Eric Schmidt has reportedly been allowed to become a citizen of Cyprus A statement from the record Monday.
An October announcement in the Cypriot publication Alidia announced that it had agreed to convert Schmidt and his family to citizenship.
Obtaining citizenship from a European country will give Schmidt the ability to freely enter the EU and avoid certain travel restrictions, the report said.
He will also be able to avail personal tax benefits due to the “Investment Citizenship” scheme, which provides tax incentives to foreigners who reduce their investment by more than 2 million to 3 million.
Schmidt may have applied for citizenship within the past year, according to the report, along with his wife Wendy and daughter Sophie.
Schmidt’s representative declined CNBC’s request for comment.
Schmidt was Google’s CEO from 2001 to 2011, before becoming Google’s CEO and then Alphabet until 2018. As of Sunday, he was worth about $ 19.2 billion Bloomberg Billionaire Table.