Buying Property In Cyprus Post-Golden Visa: Navigating Regulatory Changes

Throughout the years, Cyprus stands out as a favoured destination for foreign real estate investment, owing to its strategic geographic location, Mediterranean climate, and stable legal system rooted in English common law principles. A key element that attracted significant foreign capital, particularly from third-country nationals, was the Cyprus Investment Programme (CIP). This programme, often referred to informally as the "Golden Passports," allowed non-EU investors and citizens to obtain Cypriot citizenship by investing substantial sums in the country—most commonly through residential property acquisitions.

The Cyprus Investment Programme was officially terminated in November 2020, as concerns were raised over the integrity of the process granting the citizenship and its vulnerability. The termination of the scheme was effected on the 13 October 2020 by a decision made by the Council of Ministers, with the programme ceasing its operation from 1 November 2020.