Citizenship by Investment in Cyprus
Learn about the suspension of Cyprus’s Citizenship by Investment program and explore current alternatives, including naturalisation and residency routes.
Background of the Citizenship by Investment Program
Cyprus introduced its Citizenship by Investment (CBI) program in 2013, allowing high-net-worth individuals to acquire Cypriot citizenship through significant investments in real estate, businesses, or government bonds. The program attracted thousands of applicants, many from Russia, China, and the Middle East.
Suspension of the CBI Program
• In November 2020, the CBI program was suspended following EU scrutiny.
• Concerns included lack of transparency, allegations of misuse, and security risks.
• The European Commission launched infringement procedures against Cyprus.
• As of 2025, the program remains closed with no announced reopening.
Alternatives to Citizenship by Investment
• Naturalisation by Residence: Requires 7 years of continuous residence in Cyprus (reduced to 5 years for parents of Cypriot citizens).
• Permanent Residency: Fast-Track program via property purchase (€300,000+) provides long-term residency with potential path to naturalisation.
• EU Residency Programs: Investors may consider Golden Visa schemes in Greece, Portugal, or Spain.
• Business Establishment: Entrepreneurs establishing companies and residing in Cyprus can apply for naturalisation over time.
Pathway to Citizenship via Naturalisation
1. Obtain long-term residency through property purchase or employment.
2. Maintain continuous residence in Cyprus for at least 7 years.
3. Demonstrate integration (basic Greek language, community ties).
4. Submit a naturalisation application to the Ministry of Interior.
5. Await approval, typically 12–24 months.
Case Study: Investor Pivot after CBI Suspension
A Chinese entrepreneur initially planned to secure citizenship via the CBI program in 2020. After its suspension, they purchased a €350,000 property in Limassol under the fast-track permanent residency scheme. They now plan to apply for citizenship through naturalisation after 7 years of residence.
Case Study: Family Choosing EU Alternatives
A Middle Eastern family considered Cyprus but opted for Greece’s Golden Visa after the CBI suspension. Their €250,000 property investment granted residency rights with an eventual path to EU citizenship.
Checklist for Investors Seeking Citizenship Alternatives
1. Confirm CBI program remains suspended as of 2025.
2. Evaluate permanent residency via property purchase.
3. Consider naturalisation timelines (7 years residence).
4. Explore alternative EU Golden Visa programs.
5. Engage legal experts to plan long-term residency or citizenship strategies.
FAQs on Cyprus Citizenship and Alternatives
Q: Is Cyprus’s Citizenship by Investment program still available?
A: No, it was suspended in November 2020 and remains closed.
Q: Can I still get citizenship through property purchase?
A: Not directly—property grants residency, but citizenship requires residence over time.
Q: How long to get citizenship via naturalisation?
A: Typically 7 years, reduced to 5 for certain applicants.
Q: Are other EU countries offering similar programs?
A: Yes, Greece, Portugal, and Spain have active residency-by-investment programs.
Q: Is there a chance Cyprus will reopen CBI?
A: Uncertain, as the EU remains critical of such schemes.
Final Recommendations
While Cyprus’s Citizenship by Investment program remains suspended, investors still have pathways to secure long-term residency and eventual citizenship. Property investment, naturalisation by residence, and alternative EU Golden Visa programs provide viable solutions for those seeking European integration.