Cyprus Approves 28,660 Golden Visa Applicants Since Launch

Cyprus has approved 28,660 Golden Visas since launching its residency by investment program in 2014, according to Finance Minister Makis Keravnos. The data reveals that Chinese and Russian nationals make up the majority of recipients, with 10,100 and 8,478 permits granted, respectively.

These figures include family members, with 14,646 individual applications accounting for the total of 28,660 permits. On average, each application supported roughly one dependent. Authorities rejected 1,209 applications and currently have 1,248 pending.

Golden Visas Represent Nearly Half of All Residence Permits

Between 2014 and 2025, Cyprus issued 61,128 residence permits of all types to third-country nationals. With 28,660 of those tied to investment, Golden Visas made up almost 47% of total approvals, an unusually high ratio compared to other countries offering similar schemes.

Cyprus’s Golden Visa program requires:

• A €300,000 minimum investment in new real estate, shares, or investment funds
• Proof of €50,000 annual post-tax income
• Clean criminal record
• Health insurance coverage
• Applicants must not be permanently residing in another country and must not be absent from Cyprus for over two years

The program only accepts investments in newly built properties, a rule intended to minimize pressure on the resale housing market used by local buyers.

Although recent parliamentary discussions have touched on affordability issues and foreign real estate influence, there are no proposals to cancel the program. Instead, according to immigration lawyer Demetris Demetriades, the government is focused on managing the system through better regulation.

Expanded Broader Immigration Policies Alongside Investment Pathway

In parallel with the Golden Visa program, Cyprus has introduced other immigration reforms:

• The Startup Visa Program was revised in January 2025 to allow three-year residence permits and lowered the share capital requirement to 25%.
• Parliament is considering a new €250,000 Independent Means Visa for financially independent applicants earning at least €40,000 annually.

These additions suggest that Cyprus is actively diversifying its immigration options beyond investment-based entry, appealing to both entrepreneurs and passive income earners.