Cyprus Has Revoked 222 CBI-Origin Citizenships – So Far
January 19, 2023
The fallout from Cyprus’ citizenship by investment scandal continues: 222 individuals have seen their citizenships revoked so far.
Cyprus
Permanent Residence Program
Cyprus is a low-tax, business-friendly jurisdiction that enjoys a warm, Mediterranean climate. Its permanent residence program has a relatively low investment threshold – in a European context – and enables a path to EU citizenship within just over five years of physical residence.
Though applicants must visit the country once every two years to maintain their permanent residency status, the program stipulates no physical presence requirements.
Applicants may include both their nuclear family members as well as their parents in a single application, the processing of which is generally completed within 2-3 months and with very high rates of approval.
Program at a glance
| Program Type | Golden Visa Program |
| Time to citizenship | 5 years |
| Time to permanent residency | 2-3 months |
| Minimum investment | EUR 300,000 |
| Physical presence requirement | Visit once every two years to maintain permanent residency |
| Application processing time | 2-3 months |
| Citizenship grants visa-free travel to | 176 destinations, including Schengen countries |
| Contribution types available | Donation, Property Investment, Business Investment, Securities Investment, Bank Deposit, Fund Investment |
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How to Qualify
Salient Benefits
Path to Citizenship
Program Authority
Program Legal Basis
Program Statistics
How to Qualify
General program requirements
Prospective participants in the program have four different investment options:
€300,000 (plus VAT) investment in new residential property.
€300,000 (plus VAT) purchase of up to two new or used non-residential (i.e., commercial) properties.
€300,000 investment in the share capital of a company registered and operating in Cyprus, employing at least five people.
€300,000 invested in the Cyprus Investment Funds Association’s collective investments (AIF, AIFLNP, RAIF).
Salient Benefits
Program benefits
- Path to citizenship;
- Minimal physical presence requirements;
- Permits dual/multiple citizenship;
- Ability to include three or more generations of family members in the application;
- Lower taxes;
- Safety and security;
- Warm climate;
- Enhanced education opportunities;
- Enhanced business access to large economies;
- Short processing time;
- English as official language
Path to Citizenship
Requirements to qualify for citizenship
After completing the necessary application steps and completing the background checks, the application will then be examined by the Civil Registry and Migration Department and will be submitted to a permanent secretary of the Ministry of Interior. After receiving approval the applicant will need to visit Cyprus to obtain their ID, and PR card valid for five years.
In order to maintain their permanent residency, applicants must visit once every two years. In order to qualify for citizenship, applicants under the investment program and being physical present in the country for five years (total of 1825 days) of legal stay in Cyprus is entitled to apply for Cyprus Citizenship. The normal route for citizenship is 7 years (total of 2555 days of staying in Cyprus) before applying for citizenship.
Basic knowledge of the language, history and culture of Cyprus will be among the new stricter criteria to be fulfilled before the granting of Cypriot citizenship.
Program Authority
Program Legal Basis
Legislation upon which this program is based:
Regulation 6(2) of the Aliens and Immigration Regulations
Program Statistics
No statistics available yet for this program.
Cyprus Golden Visa Real Estate
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Explore Programs
Direct Citizenship Programs
Programs that offer citizenship within months in exchange for investments or donations, with minor/no physical presence requirements.
Semi-Direct Citizenship Programs
Programs that offer citizenship in exchange for investments following a 1-2 year period, with minor/no physical presence requirements.
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Golden Visa Programs
Programs that offer residence permits within months in exchange for passive investments, with limited physical presence requirements.
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Cayman Islands Investor Visa
Colombia Investor Visas M and R
Costa Rica Investor Visa
Curaçao Investor Permit Program
Cyprus Golden Visa
Georgia Investor Visas
Greece Golden Visa
Guernsey Investor & Entrepreneur Residency
Ireland Immigrant Investor Program
Italy Investor Visa
Latvia Investor Visa
Luxembourg Investor Visa
Malaysia M2H Visa
Malta Permanent Residence Program
Mauritius Permanent Residency Program
Monaco Carte de Séjour
Netherlands Investor Visa
New Zealand Investor Visa
Nicaragua Investor Permanent Residency Program
Panama Qualified Investor Visa
Philippines Special Investor Residence Permit
Portugal Golden Visa
South Korea Investor Visa
Spain Golden Visa
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Thailand Elite Residence Program
UK Investor Visa (discontinued)
United States EB-5
Independent Means Visas
Programs that offer residence permits within months to those who can demonstrate income or personal wealth above a certain level, usually requiring that the holder not take up employment locally.
Argentina Rentista and Pensionado Residency
Austria Independent Means Visa
Barbados Welcome Stamp
Gibraltar Category 2 HNWI Residence
Greece FIP Visa
Indonesia Retirement Visa (KITAS)
Ireland Independent Means (Stamp 0)
Italy Elective Residency Visa
Jersey High Value Residency
Mexico Legal Residency Visa
Nicaragua Pensionado and Rentista Visas
Panama Rentista Retirado Visa
Paraguay Permanent Residency Program
Portugal D7 Visa
Spain Non-Lucrative Visa
Uruguay Independent Means Visa
Active Investor Visas
Programs that offer residence permits within months to those who physically relocate to start and/or run a business. Startup and entrepreneur visas fall under this category.
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