Cyprus: Residency by Investment Restrictions

The government has approved amendments to the Residency by Investment program, including stricter review for applications, a higher minimum annual income of EUR 50,000 (up from EUR 30,000), a higher minimum annual income for spouse applicants of EUR 15,000 (up from EUR 5,000), a higher minimum amount to sponsor dependents, and a new annual requirement for holders of the status to prove their income and the fact that they maintain the investment in Cyprus. Lastly, parents and adult children of the main applicant are no longer eligible to obtain residency under the main applicant’s application.