In Cyprus, the rules for granting permanent residency in exchange for investment will be tightened. The amount of investment will not change, but other conditions of the program will be adjusted.

We want to make it clear right away that the investment required for this kind of residence permit will remain the same at €300,000. 

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What will change:

  • There will be stricter checks at the application stage and after obtaining immigration status. Specifically, it will be necessary to prove ownership of real estate or shares in companies every year. If one of these requirements is not met, the permanent residence permit will be revoked.
  • It will no longer be possible to include adult children and parents in the application for investor status. For close relatives, proof of income will now be required on an annual basis, and the minimum requirements will rise considerably: €50,000 per year for the principal applicant, €15,000 for the spouse, and €10,000 for each child (present requirements are €30,000, €5,000, and €5,000, respectively).

It is not yet known when these innovations will come into force.