читайте также






Вusiness / Real Estate / Investments / Analytics / Reviews / News / Кипр / Real Estate Cyprus 14.06.2025
Cyprus Issued Nearly 29,000 Golden Visas — EU Tightens Oversight

Since 2014, Cyprus has issued 28,660 residence permits under its investment-based residency scheme, commonly known as the Golden Visa, according to IMI Daily, citing official statistics from the country’s migration department.
China and Russia Dominate Cyprus Golden Visa Applications
The program has been most actively used by citizens of China and Russia, who account for nearly two-thirds of all approvals:
Chinese citizens: 10,777 residence permits
Russian citizens: 8,478 residence permits
Other countries with smaller applicant numbers include:
Lebanon — 1,822
Ukraine — 983
Iran — 699
Egypt — 586
To qualify for permanent residency, applicants must invest at least €300,000 in Cypriot real estate, investment funds, or local companies employing at least five people.
Applicants are also required to demonstrate an annual income of €50,000, with an additional €15,000 for a spouse and €10,000 for each dependent child. The application process is relatively simple and takes approximately two months. Applicants are not required to live permanently on the island but must visit at least once every two years.
Golden Visa Remains Stable, Injecting Billions into Cyprus Economy
On average, Cyprus approves around 2,300 Golden Visa applications per year. Since the program’s launch, total investments are estimated to have brought over €8 billion into the Cypriot economy, primarily boosting:
- the construction sector,
- employment,
- and government tax revenues.
Rising Real Estate Prices Fuel Political Debate
The steady stream of investment has fueled a significant surge in real estate prices, particularly in Limassol, where luxury construction is booming while affordable housing remains limited.
According to Cyprus Mail, the Interior Affairs Committee of Parliament has called for a review of Golden Visa conditions as housing prices soared by 16% in Limassol in 2024, largely driven by foreign investment.
Citizenship-by-Investment: A Closed Chapter
Cyprus previously operated a Citizenship-by-Investment Program (CIP) from 2007 to November 2020. Under this scheme, foreign nationals could obtain Cypriot passports by investing €2–2.5 million into real estate, business, or funds without residency, language, or source-of-funds requirements.
By the time the program was terminated, 6,700 individuals had received Cypriot citizenship under the scheme, according to Reuters.
In 2020, Al Jazeera released an undercover investigation showing high-ranking officials offering to assist an individual with a criminal record in obtaining citizenship, triggering a political scandal. In response, Cyprus suspended the CIP on November 1, 2020.
Subsequent investigations led to revocation proceedings. By early 2023, 222 citizenships had been revoked, including 63 investors and 159 family members, according to Associated Press. Investigations continue, and by December 2024, another 77 passports had been annulled.
EU Increases Pressure on Golden Visa Programs
The Council of Europe and European Commission have repeatedly voiced concerns over:
- money laundering risks,
- sanction evasion,
- and abuse of investment residency schemes.
In 2024, the EU adopted new regulations imposing strict standards for applicant screening, capital source verification, and program transparency. Member states that fail to comply may face legal actions or sanctions from Brussels.
Schengen Prospects: Higher Standards Ahead
Cyprus may soon enter the Schengen Zone, potentially as early as 2026, according to ETIAS.com. Schengen accession would:
- increase the attractiveness of Cyprus residence permits for foreign investors,
- while likely imposing stricter compliance and monitoring obligations on the government.
For now, experts believe Cyprus will maintain its Golden Visa program, but with growing EU pressure, rising property prices, and local political tensions, its long-term future remains uncertain.