Cyprus Grants 28,660 Golden Visas Since 2014: Official Data

Key Takeaways

• Cyprus issued 28,660 Golden Visas from 2014 to June 2025, mainly to Chinese and Russian nationals.
• Applicants must invest at least €300,000 in new property, shares, or funds to qualify for residency.
• The program grants immediate permanent residency with family inclusion and requires annual compliance checks.

Cyprus Golden Visas: 28,660 Granted Since 2014, Program Remains Active in 2025

As of June 2025, Cyprus 🇨🇾 has granted a total of 28,660 Golden Visas since launching its residency-by-investment program in 2014. The latest figures, released by Finance Minister Makis Keravnos, confirm that the Golden Visa scheme remains fully operational and continues to attract strong interest, especially from Chinese and Russian nationals. Despite ongoing debates about the impact of foreign investment on local housing, there are no official proposals to abolish the program. Instead, the government has focused on tightening regulations and ensuring the scheme benefits both the economy and local communities.

Below, we break down the current status, recent changes, application steps, and the broader impact of the Cyprus Golden Visa program for investors, families, and the local population.

What Is the Cyprus Golden Visa Program?

The Cyprus Golden Visa program offers permanent residency to non-European Union (EU) nationals who make qualifying investments in the country. This means that people from outside the EU can live in Cyprus 🇨🇾 with their families if they invest a certain amount of money in new property, shares in a Cypriot company, or investment funds. The program is designed to attract foreign capital, create jobs, and boost the local economy.

Unlike some other residency programs in Europe, the Cyprus Golden Visa grants immediate permanent residency—not just a temporary permit. This is a key reason why the scheme has become so popular among investors from China, Russia, and several Middle Eastern countries.

Latest Numbers and Who’s Applying

According to the latest data from Finance Minister Makis Keravnos, 28,660 Golden Visas have been granted since 2014. The program has processed 14,646 individual applications, with 1,209 rejections and 1,248 applications still pending. In total, Cyprus 🇨🇾 has issued 61,128 residence permits of all types during this period.

Top recipient nationalities include:

• China: 10,100
• Russia: 8,478
• Lebanon: 1,822
• Ukraine: 983
• Jordan: 907
• Iran: 699
• Egypt: 586
• Syria: 346
• Vietnam: 412
• USA: 277
• UK: 251

These numbers show that nearly two-thirds of all Golden Visas have gone to Chinese and Russian nationals, making Cyprus 🇨🇾 a leading destination for investment-based residency in Europe.

How the Program Works: Step-by-Step Guide (2025)

The Cyprus Golden Visa program is known for its clear rules and fast processing. Here’s how the process works in 2025:

1. Choose Your Investment

Applicants must invest at least €300,000 in one of the following:

• New residential or commercial property (resale properties do not qualify)
• Shares in a Cypriot company with at least five local employees
• Units in Cypriot investment funds

This restriction to new properties only is designed to protect local buyers from rising prices in the resale market.

2. Prepare Your Documents

Applicants need to gather and submit:

• Proof of investment (such as property purchase contract or share certificates)
• Clean criminal record certificates from both their home country and Cyprus 🇨🇾
• Proof of annual income: At least €50,000 for the main applicant, plus €15,000 for a spouse and €10,000 for each dependent child
• Health insurance covering all family members
• Declaration of non-employment in Cyprus (unless acting as a company director)

3. Submit Your Application

Applications are filed with the Civil Registry and Migration Department of Cyprus. The official website provides detailed instructions and the latest forms. You can find more information and access the required forms on the Civil Registry and Migration Department’s website.

4. Processing Time

The government typically processes Golden Visa applications within 2 to 6 months. This is considered fast compared to similar programs in other EU countries.

5. Receive Your Residency Permit

Once approved, the applicant and their family receive immediate permanent residency. This means they can live in Cyprus 🇨🇾 right away, with no need to renew a temporary permit.

6. Ongoing Compliance

To keep the residency permit, holders must:

• Show proof each year that they still own the investment and meet the income requirements
• Renew health insurance annually
• Provide a clean criminal record certificate every three years
• Visit Cyprus at least once every two years

Failure to meet these requirements can lead to the permit being revoked.

Who Can Be Included in a Golden Visa Application?

The Cyprus Golden Visa program allows the main applicant to include:

• Spouse
• Children under 18
• Financially dependent adult children up to age 25

This family reunification feature is a major draw for investors who want to secure a future for their loved ones in Europe.

Key Changes and Stricter Rules Since 2023

In response to concerns about transparency and the impact on local housing, Cyprus 🇨🇾 introduced several important changes in 2023:

• Annual proof of investment and income: Applicants must now show every year that they still meet the financial requirements.
• Health insurance: Updated proof of coverage must be submitted annually.
• Criminal record checks: A clean record is required every three years.
• Property restrictions: Only new properties qualify for investment, which helps prevent foreign buyers from competing directly with Cypriots in the resale market.

These changes aim to ensure that the program delivers ongoing economic benefits and meets international standards for anti-money laundering and transparency.

No More “Golden Passports”: Only Residency, Not Citizenship

It’s important to note that Cyprus 🇨🇾 ended its citizenship-by-investment program (sometimes called the “Golden Passport” scheme) in November 2020. This move followed pressure from the European Union and concerns about abuse of the system. Now, the only option for investors is permanent residency—not immediate citizenship.

However, Golden Visa holders can still apply for citizenship through the regular naturalization process after eight years of residency, with at least five years of physical presence in Cyprus 🇨🇾.

Why Investors Choose Cyprus Golden Visas

The Cyprus Golden Visa program stands out for several reasons:

• Immediate permanent residency: No need to wait years for a temporary permit to become permanent.
• Low minimum investment: €300,000 is lower than many similar programs in Europe.
• Fast processing: Approval can come in as little as 60 days.
• Family inclusion: Spouse and children can be included from the start.
• Pathway to citizenship: After eight years, with five years of actual residence.

These features make Cyprus 🇨🇾 especially attractive to investors seeking stability, flexibility, and a European base for their families.

Concerns and Criticisms: Housing and EU Scrutiny

While the Golden Visa program brings in foreign investment, it’s not without controversy. Some local residents and politicians worry that the influx of wealthy buyers could push up property prices, making it harder for Cypriots to afford homes. This is why the government now restricts investments to new properties only.

There is also ongoing scrutiny from the European Union, which wants to ensure that Cyprus 🇨🇾 and other countries with similar programs follow strict rules to prevent money laundering and other abuses. So far, the government has responded by tightening regulations rather than shutting down the program.

Government and Legal Perspectives

Finance Minister Makis Keravnos has confirmed that the Golden Visa program remains active and is not under threat of cancellation. According to analysis from VisaVerge.com, the government sees the scheme as a regulated economic driver, not a loophole for unchecked foreign investment.

Immigration lawyer Demetris Demetriades has stated that the government is focused on regulation, not cancellation. This means the authorities are more interested in making sure the program is well-run and transparent than in ending it altogether.

Parliamentary Debates and Future Outlook

In the Cyprus 🇨🇾 parliament, there are ongoing discussions about the impact of the Golden Visa program on housing affordability. However, as of June 2025, there have been no legislative moves to end the scheme. Instead, the focus is on monitoring the market and making adjustments as needed.

Looking ahead, there are no major changes expected for the Golden Visa program. However, parliament is reviewing a proposed €250,000 independent means visa for people who can support themselves without working. There have also been recent changes to the Startup Visa Program, making it easier for entrepreneurs to set up businesses in Cyprus 🇨🇾.

The Application Process: What to Expect

Here’s a quick summary of the steps involved in applying for a Cyprus Golden Visa in 2025:

1. Choose your investment (minimum €300,000 in new property, company shares, or funds)
2. Gather documents (proof of investment, income, health insurance, criminal record, etc.)
3. Submit your application to the Civil Registry and Migration Department
4. Wait for approval (2–6 months)
5. Receive your permanent residency permit
6. Meet annual compliance requirements (proof of investment, income, health insurance, etc.)
7. Visit Cyprus at least once every two years to keep your residency

For official instructions and forms, visit the Civil Registry and Migration Department’s website.

Impact on Local Communities and the Economy

The Golden Visa program has brought significant foreign investment to Cyprus 🇨🇾, helping to boost the construction sector and create jobs. However, the government is careful to balance these benefits with the needs of local residents. By limiting investments to new properties, the authorities hope to avoid pushing up prices for Cypriot families.

There is no major public backlash against the program, but the government continues to monitor its effects and make changes as needed.

Family Benefits and Pathway to Citizenship

One of the main attractions of the Cyprus Golden Visa is the ability to include family members in the application. This means that investors can secure a future for their spouse and children in Europe, with access to education, healthcare, and a safe living environment.

After eight years of residency (with at least five years of physical presence), Golden Visa holders can apply for Cypriot citizenship through the standard naturalization process. This offers a long-term pathway to full integration in Cyprus 🇨🇾 and the European Union.

Compliance and Ongoing Responsibilities

Golden Visa holders must meet several ongoing requirements to keep their residency:

• Maintain the investment (property, shares, or funds)
• Show proof of income each year
• Renew health insurance annually
• Provide a clean criminal record every three years
• Visit Cyprus at least once every two years

Failure to meet these requirements can result in the loss of residency status.

Official Resources and Where to Get Help

For the most up-to-date information, applicants should consult the official websites of the Civil Registry and Migration Department and the Finance Ministry. Many law firms and immigration consultants in Cyprus 🇨🇾 also specialize in Golden Visa applications and can provide expert guidance.

Summary Table: Cyprus Golden Visa (2025)

Practical Takeaways

• Cyprus Golden Visas remain available and popular in 2025, with no plans for cancellation.
• Investors must put at least €300,000 into new property, company shares, or funds and meet annual income and compliance requirements.
• Immediate permanent residency is granted, with the option to include family members.
• Ongoing compliance is essential—annual proof of investment, income, health insurance, and regular visits to Cyprus 🇨🇾 are required.
• No direct path to citizenship through investment, but naturalization is possible after eight years.

For anyone considering the Cyprus Golden Visa, it’s wise to consult official resources and seek advice from licensed professionals to ensure a smooth application process and ongoing compliance. For more detailed analysis and updates, VisaVerge.com reports that the program continues to evolve, balancing economic growth with local needs and international standards.

Learn Today

Golden Visa → A residency permit granted through investment in Cyprus, offering immediate permanent residency to non-EU nationals.
Permanent Residency → A legal status allowing an individual to live indefinitely in Cyprus without needing citizenship.
Investment Funds → Financial pools where applicants can invest money qualifying for Cyprus residency under the Golden Visa program.
Criminal Record Certificate → An official document confirming an applicant has no criminal convictions, required for visa approval.
Civil Registry and Migration Department → The Cypriot government office responsible for processing Golden Visa residency applications.

This Article in a Nutshell

Since 2014, Cyprus has granted 28,660 Golden Visas, attracting mostly Chinese and Russian investors. The €300,000 minimum investment covers new properties, shares, or funds. The program grants immediate permanent residency and permits family inclusion, with strict annual compliance to maintain residency rights.
— By VisaVerge.com