Cyprus citizenship by investment: What you need to know

The Cyprus citizenship by investment programme was officially closed in 2020 and is no longer available to new applicants.¹ However, the country does still remain an attractive option for UK residents looking to move abroad.

What’s more, the permanent residency by investment programme, commonly referred to as the Cyprus Golden Visa offers an alternative pathway to citizenship. While it doesn’t grant immediate citizenship, it does offer long-term residence in an EU country with relatively low physical presence required and a clear legal framework.¹

Below, we explore the scheme in more detail, including what it costs and how it compares to traditional citizenship by investment programmes.

✈️ Learn more about the Cyprus Golden Visa

How do citizenship by investment visas work?

Traditional citizenship by investment programmes allow applicants to gain citizenship in exchange for a financial investment such as purchasing property or contributing to a national fund.²

However, in recent years, many EU countries have moved away from direct citizenship schemes due to increased regulatory scrutiny. Instead, many now offer residency by investment programmes.

These grant permanent or long-term residence first with citizenship available after specific residency and integration requirements are met. Cyprus’ programme follows this new European model.¹

Take a look here for the latest list of citizenship by investment visa countries around the world.

Cyprus citizenship by investment (current status)

When the Cyprus citizenship by investment programme ended in 2020, it was replaced with the Permanent Residency by Investment Programme.¹

Often referred to as the Cyprus Golden Visa, it allows non-EU nationals including UK citizens to obtain permanent residency rights by making a qualified investment in Cyprus.¹

Although it doesn’t offer an immediate passport, it does provide long-term security and an EU-based residence as well as the possibility of applying for Cypriot citizenship later.¹

Cyprus Golden Visa requirements

To qualify for Cyprus permanent residency through investment, applicants must meet several criteria:¹

• Be a non-EU national
• Make a qualifying investment in Cyprus
• Hold a clean criminal record
• Demonstrate stable and sufficient income from outside Cyprus
• Maintain the investment for the duration of residency
• Visit Cyprus at least once every two years to maintain residency status.

Qualifying investments

The most common investment route is purchasing new residential property in Cyprus with a minimum value of €300,000 EUR (plus VAT).³

The property must be purchased directly from a developer. In some cases, applicants may purchase up to two properties, provided the total value meets the minimum threshold.³

Financial requirements

Applicants must also demonstrate a secure annual income from abroad, typically. This is typically around €50,000 EUR for the main applicant.³

This income must come from outside Cyprus and can include employment income, pensions, dividends or rental income.

How long does it take?

Just like other citizenship and residency programmes, timelines depend on documents being completed and background checks going smoothly.

But in general, Cyprus Golden Visa applications are usually processed within 2 to 6 months.⁴

📚 Cyprus digital nomad visa: Complete guide

How much does residency by investment cost in Cyprus?

While Cyprus no longer offers citizenship by investment, the Golden Visa programme still involves significant costs:⁵

• €300,000 EUR minimum property investment
• VAT on property purchases (usually 5 to 19%, depending on circumstances)
• Government application fees
• Legal, notary and administrative fees
• Ongoing property maintenance costs.

This means that UK applicants will likely have to send large payments to Cyprus. The Wise account from the money services provider Wise allows you to send and receive money from 140+ countries with mid-market currency exchange and low, transparent fees*.

Benefits of Cyprus residency by investment

Cyprus’ Golden Visa programme offers several key advantages:⁶

• Permanent residency in an EU country
• No requirement to live in Cyprus full-time
• Ability to include spouse and dependent children
• Access to Cyprus’s healthcare and education systems
• A stable legal and political environment
• High quality of life with a Mediterranean climate
• English widely spoken in business and daily life
• Clear pathway to long-term settlement in Europe.

Tax considerations

Cyprus is also known for its favourable tax framework. While residency through investment does not automatically make you a tax resident, Cyprus offers:⁶

• Competitive personal income tax rates
• No inheritance tax
• Double taxation treaties with many countries, including the UK.

The contents of this article is for informational purposes only and does not constitute legal or tax advice. Decisions related to tax should be made after thorough research, consultation and verification from a qualified financial and legal advisor.

Can you eventually apply for Cypriot citizenship?

Another advantage of the scheme is that permanent residents may become eligible to apply for Cypriot citizenship after meeting key residency requirements.⁶

This generally involves:

• Several years of legal residence
• Demonstrating genuine ties to Cyprus
• Meeting integration and language requirements.

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Need a secure, convenient and low-cost way to send money to Cyprus? Take a look at the Wise account from the money services provider, Wise. It's not a bank account but offers some similar features and your money is safeguarded.

With Wise, you can set up large amount transfers worldwide to 140+ countries for low, transparent fees* and the mid-market exchange rates with no markup.

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Cyprus citizenship and residency FAQs

Does Cyprus still offer citizenship by investment?

No. Cyprus closed its citizenship by investment programme in 2020. It now offers permanent residency through its Golden Visa programme.¹

Do I need to live in Cyprus permanently?

No. You only need to visit Cyprus at least once every two years to maintain residency.⁶

Can my family apply with me?

Yes. Spouses and dependent children can be included in the application.⁶

Is Cyprus a good option for UK citizens after Brexit?

Yes. Cyprus remains a popular EU destination for UK nationals seeking residency.

Sources used:

Sources last checked on date: 15-Dec-2025