New Law in Cyprus: “Golden Passports” Are Gone for Good

The Government of Cyprus has approved final amendments to the Civil Registry Law, officially closing the path for reinstating the “Citizenship by Investment” program, which was in effect until 2020.

What has changed

• The Council of Ministers will no longer have the authority to grant citizenship to investors and their family members.

• Any future initiatives of this kind will require approval through a new law passed by Parliament.

• Individuals who have been deprived of citizenship now have the right to appeal within 60 days.

• Decisions regarding deprivation of citizenship will be published in the official gazette, ensuring greater transparency.

Why it matters

The amendments were coordinated with the European Commission and aim to restore Cyprus’s reputation after criticism from the EU and international media. The previous program generated billions of euros for the country but also led to several corruption scandals.

What this means for property buyers

• Real estate investments remain in high demand, but they no longer grant eligibility for citizenship.

• The main focus is now on residency and long-term stay through property ownership.

• Cyprus continues to attract foreign investors thanks to its favorable tax system, warm climate, and stable rental demand.