+357 25 25 1111
Login
New Law in Cyprus: “Golden Passports” Are Gone for Good
The Cyprus government has enacted definitive amendments to the Civil Registry Law, permanently closing any path toward reinstating the Citizenship by Investment scheme that operated until 2020.
What Has Changed
- The Council of Ministers is no longer empowered to grant citizenship to investors and their family dependants.
- Any future citizenship initiatives can only be introduced via entirely new primary legislation ratified by Parliament.
- Individuals subject to citizenship deprivation orders are granted a statutory right of appeal within a 60-day window.
- Decisions regarding citizenship revocations will be officially gazetted, enhancing procedural transparency.
Why This Matters
The legislative reforms were coordinated in alignment with the European Commission and are designed to fully restore Cyprus's international standing following scrutiny from EU institutions and global media. While the historical scheme generated billions of euros for the national economy, it ultimately triggered significant reputational and compliance challenges.
What This Means for Real Estate Buyers
- Real estate investment remains in strong demand, but no longer confers direct eligibility for economic citizenship.
- The primary focus has shifted decisively toward Permanent Residency and long-term residency routes via property acquisition.
- For international investors, Cyprus retains strong fundamental appeal through its competitive tax regime, Mediterranean climate, and consistent tenant demand.
Related Posts
The cheapest property in the search results is rarely the cheapest after purchase. Repairs, replacem..
Cyprus’ property market in 2025 shows clear regional differentiation. Limassol leads in total sales ..
Strategic technical and legal appraisal of unauthorized property extensions and structural modificat..
Comprehensive legal and tax appraisal comparing direct personal real estate ownership against establ..