For Assistance

About Us






Cyprus will not replace its Citizenship by investment program

EU Golden Visas | EU Real Estate | Cyprus (EU) Citizenship | Cyprus Residency Program | Golden Residence Permit Program | Cyprus Permanent Residency | Schengen visa | Cyprus Golden Visa | Cyprus permanent residency benefits | Cyprus residency by buying property | Cyprus permanent residency by investment | Cyprus residence permit visa | free countries |


Published   11:22 AM 3 March 2021
Updated    11:53 AM 3 March 2021

The President of Cyprus, Nicos Anastasiades, has said that the European Union (EU) country will not be replacing its citizenship by investment program (Cyprus CIP) – but other incentives would be offered for investment.


The Cyprus citizenship by investment program, which was halted late last year (November 2020), earned the island nation around EUR 9 billion since its launch in 2013, but the European Union (EU) had expressed concerns over the scheme.


The Cyprus citizenship by investment program had proved popular with nationals from Russia, Ukraine, China and Cambodia – attracted by the prospect of visa-free access across the European Union (EU).


Speaking at a board of enquiry, Anastasiades said the Cyprus citizenship by investment program had been the strictest in Europe but had weaknesses at the beginning. Possible corruption was also highlighted by a documentary film crew who caught officials on tape offering to help an applicant with a criminal record.


“The gaps and weaknesses allowed some applicants and others to abuse it,” said Anastasiades.

“There was an irrational promotion of the Cyprus citizenship by investment program, giving the impression Cyprus was selling its passports.”

Anastasiades had issued warnings that the scheme could be suspended but confirms it will not be replaced. However, he did say that other incentives would be offered for investment into the country, but that would not include Cyprus citizenship.


Another EU country, Malta, also made significant changes to its citizenship by investment program (Malta CIP) last year (2020). Despite the program’s tough stance on due diligence (Malta outranks most other CIPs for its stringent vetting procedures), the Maltese Government decided to scrap the Malta Individual Investor Program (MIIP) prematurely and replace it with a new program which was launched in November.

Final Thoughts

By now, the question you should ask yourself is “Why not invest in Cyprus?” Whether you want to relocate to for business or pleasure (or both), there are a multitude of reasons why Cyprus’ Golden Visa Program should be your number one choice. From prime tax amenities and high-quality living conditions to idyllic weather and picturesque landscapes, your investment in Cypriot residence will continue to yield professional and personal rewards for generations to come.

If you are considering permanent residency solutions in Cyprus, contact our office today to discuss your options with one of our immigration professionals.

For more information on Cyprus’ Permanent Residence Program through Investment, please click here.
To view our European Golden Visa Residence Programs comparison table, please click here.
Fill out our Free Assessment to see if you qualify for any of the immigration programs offered.

Source: Cyprus Mail


Related Programs

Cyprus Permanent Residence Program

Related Articles

Dominica’s CIU warns its Citizenship agents
Are you looking for a European residency?
How Good Is Your Passport In 2022?
EU wants to suspend visa agreement with Vanuatu
Montenegro CIP is valid until December 2022
Quebec Investment Consultation and Management Services LLC
​Ibrahim Al-Qattan St. Building # 21, 1st floor
P.O. Box 811 Amman 11831 Jordan
Tel (1) : +962 (6) 585 6164
Tel (2) : +962 (6) 585 6165
Tel (3) : +962 (6) 585 6765
Mobile: +962 (79) 268 2204

E-mail: Send QICMS an e-mail