Cyprus to tighten golden visa programme ahead of Schengen entry — Cyprus Mail

Cyprus is preparing to tighten its “golden visa” programme ahead of its planned entry into the Schengen area. The authorities are also checking whether holders of around 12,000 permits issued since 2013 still meet the programme’s conditions, Cyprus Mail reports.

Deputy Migration Minister Nicolas Ioannides told a meeting of the parliamentary audit committee that Cyprus had issued around 1,500 “golden visas” over the past two years. He has already submitted proposals to tighten the rules to other ministers involved. According to him, the country’s entry into the Schengen area will make it more attractive to investors.

Investment areas

Among the issues being considered by the government is the direction of funds invested under the programme. In particular, the possibility of investments in education, defence and innovation is being discussed. Ioannides stressed that Cyprus needs investment, but it must be made in a controlled manner.

Odysseas Michaelides, leader of the Alma party and a member of parliament, said that the programme remains in operation and, in his view, increases pressure on the housing market.

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Migration control and digital services

The meeting also discussed migration management, the processing of asylum applications, the return of foreigners and the situation near the Green Line. Ioannides reported on the development of a new information system that is intended to track third-country nationals from the moment they enter until they leave the republic.

According to data from the Audit Office for 2021–2023, existing records listed around 290,000 third-country nationals who had legally arrived in Cyprus without a correspondingly registered departure. The deputy minister noted that the absence of such a record does not necessarily mean unlawful stay: a person may have left through a crossing point not controlled by the government, obtained a residence permit or used another passport.

At the first stage of the digitalisation of migration services, applicants will be able to renew residence permits online in five categories, track the status of their applications and receive an SMS once the procedure is completed.