Cyprus Citizenship by Investment Ended in 2020: What Exists Now

Reviewed by Jane Katkova, Founder & Licensed CICC Consultant· Last updated: September 2026

Cyprus citizenship by investment no longer exists. The Cyprus Investment Programme, the golden passport, was abolished on 1 November 2020 after the EU opened infringement proceedings, and it has not been replaced. What Cyprus offers now is permanent residence for €300,000 plus VAT, and a Cypriot passport only through ordinary naturalisation after about eight years of actually living there with Greek at B1.

Cyprus citizenship by investment: current status and key facts

• Citizenship by Investment Ended 1 November 2020. Cyprus Investment Programme abolished; no successor; passports granted under it have been reviewed and some revoked
• Permanent Residence Remains Available. Regulation 6(2): €300,000 + VAT, €50,000 income, indefinite permit in 2–6 months
• Passport Path Through Naturalisation. 7 years of lawful residence in the last 10, the final 12 months continuous; about 8 years in practice
• Greek B1 Language Requirement. certificate required under the December 2023 law, plus knowledge of Cyprus's history and institutions
• Faster Route for Highly Skilled Employees. 4–5 years for people employed in Cyprus by qualifying companies on a salary of at least €2,500 a month; not an investor route
• Not Part of the Schengen Area. the residence permit is national; a Cypriot passport, once obtained, is a full EU passport
• Dual Citizenship Allowed. Cyprus, the US and Canada all permit it
• Verified on 27 September 2026. Civil Registry and Migration Department; Civil Registry Law amendments 2023

From Cyprus permanent residence to citizenship by naturalisation

The legal minimum is seven years of residence in ten; we say about eight because the final year must be continuous and processing takes time. Every step below requires you to live in Cyprus.

1. Permanent residence under Regulation 6(2) (Months 0–6)

€300,000 plus VAT in a new-build home, shares or fund units, €50,000 secured income from abroad, decision in two to six months. Detail on the Cyprus permanent residence page.

2. Move to Cyprus (Years 1–7)

Naturalisation counts years of lawful residence: registered address, Cypriot tax residence, presence the Migration Department can verify from entry and exit records. Holding the permit from abroad, with a visit every two years, keeps the permit but earns no years toward citizenship.

3. Greek to B1 (In parallel)

Required since the December 2023 amendment. Cyprus works in English day to day, which reduces day-to-day exposure to Greek; plan language study from year one.

4. The final continuous year (Year 7)

The twelve months before filing must be spent in Cyprus without absences beyond short trips. Plan travel accordingly.

5. Application (form M127) and decision (Years 8–9)

Filed with the Civil Registry and Migration Department with residence history, tax records, the language certificate and character evidence. Processing has run one to two years; the 2023 law set targets to shorten it.

6. Oath and passport (After approval)

Citizenship by naturalisation, then a Cypriot passport: an EU passport with free movement across the Union and visa-free travel to about 175 destinations.

Cyprus Investment Programme compared with current routes

The former programme and the current routes side by side; much published material still describes the pre-2020 rules.

Figures verified 27 September 2026.

Cyprus citizenship for US and Canadian applicants

For US and Canadian citizens

If you searched for Cyprus citizenship by investment, you were probably looking for a second EU passport without moving. That does not exist in Cyprus, or anywhere in the EU. What you can do is secure permanent residence now, at €300,000 plus VAT, and decide later whether to live there. If you do, the tax position is among the most favourable in Europe: non-domiciled residents pay no Cypriot tax on dividends or interest for 17 years, there is no inheritance tax, and the US–Cyprus and Canada–Cyprus treaties cover the overlap. Americans still file US returns, FBAR and FATCA throughout; Canadians pay departure tax on leaving. After about eight years of residence you can apply for a Cypriot passport. If you will not move, a Caribbean citizenship is the only passport obtainable without residence, and it is not an EU passport.

For US and Canada residents on another passport

Cyprus's permit does not give Schengen travel, and its passport is eight years of residence away. If an EU passport is the goal and you are willing to relocate, Greece's seven years is shorter and comes with Schengen from day one; Portugal is ten since May 2026. If a permanent EU base in English with low tax is the goal, Cyprus is the fastest and most affordable route, and naturalisation is open to those who genuinely settle. It is not a supplement to your North American status; eight years away ends that status.

Why Cyprus citizenship by investment ended, and why it will not return

The Cyprus Investment Programme granted about 7,000 passports between 2013 and 2020 for €2 million investments. In October 2020 a broadcast investigation showed officials offering to help a fictitious convicted investor; the European Commission opened infringement proceedings against Cyprus and Malta for selling EU citizenship; Cyprus announced closure within days and stopped accepting applications on 1 November 2020. An official inquiry later found that more than half of the grants were unlawful, and revocations continue. In April 2025 the Court of Justice of the EU ruled Malta's scheme incompatible with EU law, which settles the question for any member state: citizenship cannot be sold. Anyone advertising a Cypriot golden passport in 2026 is describing the residence permit, the naturalisation route, or nothing lawful.

The residence permit is a different thing, and it is in good standing: revised in May 2023, decided by the Civil Registry and Migration Department in months, permanent from the first card. For a passport, the law is the December 2023 amendment to the Civil Registry Law: seven years of lawful residence in the ten before filing, the last twelve continuous, Greek B1, good character. We advise on which of these routes matches your objectives. Compare the Cyprus permanent residence page with our citizenship programmes.

Request a written plan for Cyprus residence or citizenship

Thirty minutes with Jane Katkova, licensed CICC consultant, in Toronto. If you want an EU passport and will move, we plan Cyprus or Greece. If you want a passport without moving, we set out which Caribbean programme fits, and what it will not give you. Book a consultation.

Frequently asked questions

Can I still get Cyprus citizenship by investment?

No. The Cyprus Investment Programme was abolished on 1 November 2020 and has not been replaced. Cyprus now offers permanent residence by investment from €300,000 plus VAT, and citizenship only through naturalisation after about eight years of actually living in Cyprus with Greek at B1.

How long does Cypriot naturalisation take from the residence permit?

Seven years of lawful residence within the ten before you apply, with the final twelve months continuous, then one to two years of processing: about eight to nine years from moving to passport. Years spent holding the permit while living abroad do not count.

Is there any faster route to a Cypriot passport?

Only for highly skilled employees of qualifying Cyprus companies earning at least €2,500 a month, who can apply after four to five years depending on Greek level. It is an employment route, not an investment route, and still requires living in Cyprus. Spouses of Cypriot citizens have their own timeline.

What do I get with a Cypriot passport that I do not get with the permit?

An EU passport: the right to live and work in any EU country, Schengen and EU free movement, and visa-free access to about 175 destinations including the UK and Canada. The residence permit gives only the right to live in Cyprus.

This guide is part of our Cyprus Residency by Investment: Golden Visa overview.

Official sources and references

1. Cyprus Ministry of Interior: citizenship by naturalisation (form M127)
2. Cyprus Migration Department: immigration permits for investors (Regulation 6(2))
3. European Commission: Cyprus new citizenship legislation (March 2024)