Cyprus’s Interior Ministry has delivered its most detailed accounting to date of the now-defunct Citizenship-by-Investment Programme (CIP), confirming that 7,329 foreign nationals—3,522 principal investors and 3,807 dependants—obtained Cypriot passports before the scheme was shut down in late 2020.
The ministry told Parliament on 12 November 2025 that 373 people have so far had their citizenship formally revoked following enhanced due-diligence checks; revocation orders have already been executed for 116 individuals, while 26 more investors remain under investigation. The announcement responds to persistent EU pressure for transparency after the European Commission launched infringement proceedings over the scheme in 2023.
![Interior Ministry reveals 7,329 naturalisations under Cyprus’s golden-passport scheme; 373 already revoked]()
Although the CIP funnelled an estimated €8 billion into real estate and bond investments between 2014 and 2020, critics argued that lax vetting damaged Cyprus’s reputation and inflated property prices. The Interior Ministry insists that a new civil-registry amendment, passed in October 2025, permanently removes the legal basis for any future passport-for-investment programme.
For multinational employers the figures matter: executives who acquired Cypriot passports for ease of EU mobility may now face uncertainty if revocations accelerate. Immigration counsel advise companies to audit employee documentation and consider alternative residency routes—such as the Startup Visa or the fast-track work-permit regime for tech companies—in case staff lose EU citizenship status.
The disclosure also provides context for relocation advisors helping high-net-worth clients plan EU market entry: Cyprus is closing the door on citizenship sales but remains open to residence-by-investment and digital-nomad options, albeit under stricter compliance rules.
The ministry told Parliament on 12 November 2025 that 373 people have so far had their citizenship formally revoked following enhanced due-diligence checks; revocation orders have already been executed for 116 individuals, while 26 more investors remain under investigation. The announcement responds to persistent EU pressure for transparency after the European Commission launched infringement proceedings over the scheme in 2023.
Although the CIP funnelled an estimated €8 billion into real estate and bond investments between 2014 and 2020, critics argued that lax vetting damaged Cyprus’s reputation and inflated property prices. The Interior Ministry insists that a new civil-registry amendment, passed in October 2025, permanently removes the legal basis for any future passport-for-investment programme.
For multinational employers the figures matter: executives who acquired Cypriot passports for ease of EU mobility may now face uncertainty if revocations accelerate. Immigration counsel advise companies to audit employee documentation and consider alternative residency routes—such as the Startup Visa or the fast-track work-permit regime for tech companies—in case staff lose EU citizenship status.
The disclosure also provides context for relocation advisors helping high-net-worth clients plan EU market entry: Cyprus is closing the door on citizenship sales but remains open to residence-by-investment and digital-nomad options, albeit under stricter compliance rules.
