Former Google CEO Eric Schmidt reportedly applied to become a citizen of Cyprus

SOUTH KOREA - MAY 30:  Eric Schmidt, chief executive officer of Google Inc., listens to a question during a news conference at the Seoul Digital Forum 2007 in Seoul, South Korea, on Wednesday, May 30, 2007. The Seoul Digital Forum, an annual technology forum sponsored by Korean broadcaster Seoul Broadcasting System, will be held from May 29 to May 31.  (Photo by Seokyong Lee/Bloomberg via Getty Images)

  • Former Google Chief Executive Eric Schmidt has been approved to become a citizen of Cyprus, according to a report Monday from Recode.
  • Recode cited a notice in Alithia, a Cypriot publication, from October that announced Schmidt and his family had won approval to become citizens.
  • Obtaining citizenship from the European nation would give Schmidt the ability to freely enter European Union and skirt some travel bans, according to the report. It could also possibly help him reap tax benefits.

Former Google CEO Eric Schmidt has been approved to become a citizen of Cyprus, according to a report Monday from Recode.

An October notice in Alithia, a Cypriot publication, apparently announced Schmidt and his family had won approval to become citizens.

Obtaining citizenship from the European nation would give Schmidt the ability to freely enter European Union and skirt some travel bans, according to the report.

He could also gain personal tax benefits due to the “Citizenship by Investment” program that provides tax breaks to foreigners who put down between $2 million and $3 million worth of investment.

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

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

Schmidt was Google’s chief executive from 2001 to 2011, before he transitioned to executive chairman of Google and then Alphabet until 2018. He was worth around $19.2 billion as of Sunday, according to Bloomberg’s Billionaire Index.

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