Cyprus Tightens Golden Visa Rules Ahead of Schengen Accession
Cyprus plans to tighten its 'golden visa' program ahead of its accession to the Schengen Area, according to Deputy Minister of Migration Nicholas Ioannides. The move comes as around 1,500 golden visas have been issued over the past two years, and a review is underway for the approximately 12,000 passports issued since 2013.
'We need investment,' Ioannides said, 'but it should be made in a controlled manner.'
The Deputy Minister also announced plans to monitor third-country nationals more closely, including through an information system being developed that will track individuals from the time they enter Cyprus until they leave. Additionally, he noted that an online platform is being introduced for citizens to renew their residence permits and track application progress.