Cyprus new ‘Golden Visa’ is still on hold

Cyprus government announced changes to the offer for a ‘Golden Visa,’ — Cyprus residency in exchange for investment, but no passport. However, the new offer is little changed from the one that has been available since 2008.

The challenge is that Spain, Greece, the Netherlands and several other EU countries offer this type of Golden Visa as well.

In 2007–2008, the government put on offer a residency visa: In exchange for a €300,000 investment in property, and a €30,000 bank deposit, long-term residency is provided. Applicants had to show proof of income and must not have had any criminal record.

Applicants are not permitted to work in Cyprus. And the Schengen issue remains important. However, it eventually became possible to bring children into Cyprus to study here.

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