Cyprus Citizenship by Investment (Abolished)

What the program offered

Cyprus began naturalising investors in 2007, and the scheme later became the Cyprus Investment Programme (CIP). In its final form it required:

• an investment of €2 million in real estate, Cypriot companies or businesses, Cypriot investment funds, or a combination, held for at least five years;
• a permanent private residence in Cyprus worth at least €500,000 plus VAT, kept for life;
• donations of €75,000 to the Research and Innovation Foundation and €75,000 to the Cyprus Land Development Corporation (€150,000 in total);
• a clean criminal record, a valid Schengen visa, and a Cyprus residence permit held for at least six months before naturalisation.

From 2018 the program was capped at 700 applications a year.

Why it was abolished

In August 2020 Al Jazeera published leaked files (the ‘Cyprus Papers’) on passports granted under the scheme. On 12 October 2020 it released undercover footage of senior politicians offering to help a fictitious investor with a criminal record. The next day the Cabinet decided to abolish the program, and it ended on 1 November 2020. On 20 October 2020 the European Commission opened infringement proceedings against Cyprus and Malta over their investor citizenship schemes.

In September 2020 the Attorney General appointed an inquiry committee led by former Supreme Court president Myron Nicolatos. Based on its findings, the Council of Ministers has since revoked a number of citizenships. According to the Audit Office of Cyprus (2022), the scheme naturalised 3,517 investors and 3,810 family members between 2007 and 2020. On 11 March 2026 the European Commission closed its infringement procedure against Cyprus.

Can I still get Cypriot citizenship through investment?

No. Cyprus no longer grants citizenship for investment. Investors can still get Cyprus permanent residence by buying property, and can apply for citizenship later through ordinary naturalisation after years of residence.

Sources

• Gov.cy (Law Office) – European Commission closes infringement procedure on the Cyprus Investment Program
• Al Jazeera – Most Cyprus passports issued in investment scheme were ‘illegal’
• Best Citizenships – Cyprus citizenship by investment scheme
• Best Citizenships – Cyprus suspends investor citizenship scheme
• Best Citizenships – European Commission reports on investor citizenship