Our site uses cookies

I agree Our site saves small pieces of text information, called “cookies” on your device. Find out more in our cookie policy. You can disable the usage of cookies by changing the settings of your browser. By continuing to browse the site you are agreeing to our use of cookies.

"Golden Visa" scheme in Cyprus is cancelled with effect from 1 November 2020

For a minimum investment of 2 million euros, the Cypriot Citizenship by Investment Program (sic) would guarantee visa-free travel for the successful applicant throughout the European Union.

This investment visa programme, which has been in operation in its current form since 2013, allowed foreign individuals to invest €2 to €2.5mln in Cyprus in exchange for citizenship.  However, on 13 October, 2020,  the Council of Ministers in Cyprus confirmed its decision to cancel the scheme, following public exposure of procedural deficiencies and abuse by some applicants. The date of cancellation is 1 November, 2020, meaning Cypriot Citizenship by Investment Program applications can be submitted up to 31 October 2020.

Related Expertise

Immigration Private Wealth

Related in brief posts

The Court of Protection and the vaccine: to administer or not to administer

The Court of Protection and the vaccine: to administer or not to administer - Nicola Boulter considers two recent Court of Protection decisions.

What's new in the EU?

As restrictions begin to lift in the UK, thoughts are turning to overseas travel. However, the world of international tourism is very different to that in February 2020. We must consider both the impact of the pandemic, and the implications of Brexit.

EU Settlement Scheme – applications closing soon

Now that the UK has left the EU, if you are an EU, EEA or Swiss citizen who has lived in the UK prior to 31 December 2020 and you wish to continue living here, you will need to make an application to the EU Settled Status Scheme.