Five years after halting new applications under its scandal-plagued Citizenship-by-Investment (CBI) scheme, Cyprus has deleted the last legal escape hatch that allowed the Cabinet to grant citizenship "in exceptional economic cases". The amendment, adopted on 4 December and published on 5 December, was highlighted by mobility specialists on 7 December.
Between 2007 and the programme’s suspension in late 2020, more than 7,300 passports were issued to investors and their families, injecting an estimated €8 billion into local real estate but provoking EU infringement proceedings after an undercover Al Jazeera report exposed lax vetting. Although no new CBI passports have been issued since 2020, ministerial discretion survived as a back-door option; its removal brings Cyprus fully in line with an EU push to curb investor-citizenship schemes.
![Cyprus finally shuts the ‘golden-passport’ loophole for investors]()
The new law also raises the bar for honorary naturalisations: artists, athletes or philanthropists will now need a bespoke statute or a case-by-case parliamentary vote. Existing CBI passports remain valid but are subject to ongoing audits, and fraudulent cases could see revocation plus Schengen-wide alerts.
For relocation advisers and private-wealth managers, Cyprus is no longer an ultra-fast passport option. High-net-worth clients must pursue the standard seven-year residence route, the relaunched Digital Nomad Visa (capped at 1,000 permits) or the EU Blue Card expected in 2026. Real-estate developers are already pivoting toward long-term rental products aimed at tech expatriates rather than one-off luxury sales.
Between 2007 and the programme’s suspension in late 2020, more than 7,300 passports were issued to investors and their families, injecting an estimated €8 billion into local real estate but provoking EU infringement proceedings after an undercover Al Jazeera report exposed lax vetting. Although no new CBI passports have been issued since 2020, ministerial discretion survived as a back-door option; its removal brings Cyprus fully in line with an EU push to curb investor-citizenship schemes.
The new law also raises the bar for honorary naturalisations: artists, athletes or philanthropists will now need a bespoke statute or a case-by-case parliamentary vote. Existing CBI passports remain valid but are subject to ongoing audits, and fraudulent cases could see revocation plus Schengen-wide alerts.
For relocation advisers and private-wealth managers, Cyprus is no longer an ultra-fast passport option. High-net-worth clients must pursue the standard seven-year residence route, the relaunched Digital Nomad Visa (capped at 1,000 permits) or the EU Blue Card expected in 2026. Real-estate developers are already pivoting toward long-term rental products aimed at tech expatriates rather than one-off luxury sales.
