Cyprus plans to tighten its golden visa before it becomes a full member of the Schengen area. Deputy Minister of Migration and International Protection Nicholas Ioannides told the House audit committee on September 24, 2026 that decisions on the program are expected and that he has sent proposals to other ministers, as reported by the Cyprus Mail.
At the same time, officials are checking whether the holders of about 12,000 permits issued since 2013 still meet the program’s conditions. About 1,500 golden visas were issued in the past two years.
What has not been published matters just as much. There is no draft text, no new investment threshold and no date. For now, the program runs on its existing rules.
Key takeaways
- Cyprus intends to tighten its fast-track permanent residence program before Schengen entry, because accession would make the permit more attractive.
- Officials are reviewing about 12,000 permits issued since 2013 to confirm that holders still meet the conditions.
- Ideas under study include steering investment toward education, defense and innovation. No thresholds or timeline have been announced.
- The current minimum investment is €300,000 (plus VAT for new property), with a €50,000 annual income requirement and a visit at least once every two years.
- Schengen entry still needs a unanimous political decision. As of early October 2026, no date has been set.
What Cyprus announced
Ioannides spoke during a committee session on a special Audit Office report about migration management. He said Cyprus needs investment, but it must happen in a controlled manner. Officials are looking at where program money should go, and education, defense and innovation were named as possible targets.
He linked the timing to Schengen: once Cyprus joins, a Cypriot residence permit becomes more attractive. At the same hearing, an opposition MP argued that the program, still operating, adds to pressure on housing.
The government has not said whether existing holders would be affected by new rules, or only new applicants. The ongoing review of the 12,000 permits is about compliance with the conditions already in force.
How many golden visas has Cyprus issued?
Different counts have appeared over the past 18 months, and they measure different things.
| Figure | What it counts | Source and date |
|---|---|---|
| 28,660 | Permits including family members, from 14,646 applications (1,209 rejected, 1,248 pending) | Finance minister’s letter to an MP, reported May 2025 |
| 7,088 | Golden visas issued since 2013, all still valid | Reported to parliament, April 2026 |
| About 12,000 | Permits under review since 2013 | Deputy migration minister, September 2026 |
The larger number includes spouses and children, which explains much of the gap. The deputy minister did not say which basis his 12,000 figure uses. In the May 2025 data, reported by the Cyprus Mail, Chinese and Russian nationals held the largest shares of permits, followed by Lebanese, Ukrainian and Jordanian nationals.
Some headlines have described these permits as passports. They are not. The golden visa gives permanent residence. Cyprus closed its citizenship by investment program on November 1, 2020, and investigations into how passports were granted under it led to criminal proceedings. Our article on the EU crackdown on golden passports covers that background.
The current rules
Until new rules are published, the program works on the fourth revision of the criteria, in force since 2 May 2023, published by the Migration Department. The main terms are:
- A minimum investment of €300,000 in real estate (new residential property from a developer, plus VAT, is the most common route), share capital of a Cypriot company with at least five employees, or units in Cypriot investment funds.
- Secured annual income of at least €50,000, plus €15,000 for a spouse and €10,000 for each minor child.
- A clean criminal record certificate from the country of origin and, if different, the country of residence.
- Health insurance for the holder and dependants, and the investment kept for as long as the permit relies on it.
- At least one visit to Cyprus every two years.
- Coverage for a spouse and minor children, with children aged 18 to 25 included if they are financially dependent students in higher education.
The criteria have been revised four times since 2013. The government’s stated view is that setting them should stay with the executive rather than parliament.
Why Schengen changes the picture
Cyprus is an EU member but not yet part of the Schengen area. A Cypriot residence permit today does not let its holder travel freely to other Schengen countries. When a country fully applies the Schengen rules, the residence permits it issues generally allow short stays in the other Schengen states, within the limits explained in our guide to the Schengen 90/180 rule.
Accession requires a unanimous decision by the EU members of the Schengen area. The European Commission has given a positive assessment of Cyprus’s preparedness. On October 1, Ioannides said in Luxembourg that Cyprus is technically ready and that all Commission recommendations have been implemented, but a political agreement is still needed.
The file was not on the agenda of that month’s justice and home affairs Council meeting, according to the Cyprus Mail. One open question is how the EU’s new entry and exit checks would work at the crossing points along the Green Line that divides the island. Our explainer on EES and ETIAS covers the wider system.
Earlier attempts to change the program
Pressure has been building for some time. In April 2026, the opposition party AKEL tabled a bill that would have kept the fast-track route alive only if the government issued new regulations within three months of the law taking effect. The Cyprus Mail reported that the bill was fast-tracked before the May parliamentary elections. The Migration Department argued that the executive should keep control of the criteria. The program remained in operation afterward.
Cyprus is not alone. Greece has already raised its real estate thresholds in its most popular areas, as our Greece golden visa guide explains, and EU institutions continue to push for stricter checks on residence by investment.
What applicants and holders are asking
People in the process mostly ask whether the price will rise, whether pending applications are safe, and whether holders will face new checks. There is no official answer on the first two. The review under way covers the existing conditions: the investment, income, insurance, a clean record and visits. Programs under review also tend to look harder at source of funds.
Frequently asked questions
Is the Cyprus golden visa closing?
No closure has been announced. The government says it will tighten the program before Schengen entry, but it has published no draft rules, thresholds or dates.
How much is the Cyprus golden visa in 2026?
As of October 2026, the minimum investment is €300,000, plus VAT for new residential property, with a secured annual income of at least €50,000 for the main applicant. These terms could change when the new rules are published.
Does a Cyprus permanent residence permit allow Schengen travel?
Not yet, because Cyprus has not joined Schengen. Holders need to meet the normal entry rules of other Schengen countries for their nationality. This would change once Cyprus fully applies the Schengen rules.
Does the Cyprus golden visa lead to citizenship?
The permit gives permanent residence, not citizenship. Naturalization is a separate process with its own residence, language and other requirements.
Important: This article is general information, not tax, legal or financial advice. Rules change often and depend on your personal circumstances. Speak with a qualified professional in each relevant country before you act.