obtaining permanent residency for €300,000 may become more difficult before joining Schengen.

The Cypriot authorities intend to revise the rules for granting residence permits to wealthy foreigners. Deputy Minister of Migration Nicolas Ioannides announced this on 24 September.

Today an investor must invest at least €300,000 and confirm an annual income of €50,000 or more. In future the requirements may become stricter, and investments are planned to be directed, among other things, toward education, defence and innovation.

The reason for the review is preparation for Schengen: after accession, a Cypriot residence permit will become more attractive to foreigners.

🚨 At the same time the authorities are reviewing previously issued permits and preparing a new system for recording incoming and outgoing foreigners. Its launch is scheduled for March 2027.

According to the deputy minister, more than 7,000 migrants left the island in January–August 2026, and the number of people awaiting decisions on asylum applications has fallen to around 12,500.

The exact terms of the updated investment programme and the date of Cyprus’s entry into Schengen have not yet been announced.

@cyprus_kipr