Cyprus Aims to Join the Schengen Area in 2025: What Does It Mean for Foreign Travellers and Investors?

In October 2024, the Minister of Justice in Cyprus announced that the country had submitted an application to join the Schengen Area. According to Cyprus’ president, Nikos Christodoulides, all political issues hindering accession have been resolved, and the country is finalising the necessary technical details.

European Commission President Ursula von der Leyen confirmed that Cyprus could join the Schengen Agreement in 2025.

We spoke with Igor Buglo, an expert at Immigrant Invest, about how Cyprus’ accession to the Schengen Area could impact travellers and Cypriot residents.

So, who would benefit from Cyprus joining the Schengen Area?

The country’s admission to the Schengen Area will greatly benefit travellers and Cypriot residents.

Travellers from countries without a visa-free agreement with Cyprus will be able to enter the country with a Schengen visa. They will no longer need to apply for a separate Cypriot visa, making travel within Europe more convenient.

Residents with citizenship from countries that lack a visa-free agreement with Cyprus will be able to travel freely within the Schengen Area. Currently, they must apply for a Schengen visa, which involves fees, proof of travel intentions, and a waiting period of at least 15 days.

How can foreigners obtain residency in Cyprus?

Cyprus offers numerous paths to its residency. 

Employment. One of the most popular routes to residency is employment with a Cypriot company. Foreigners must provide a signed contract with a Cypriot employer and, in the case of a highly qualified job, prove a monthly income of at least €1,936.

Studies. Another popular route to Cyprus residency is studying at a Cypriot university to receive a diploma in higher education. When applying for a residence permit, students must provide an enrollment letter.

Investment. One of the most appealing ways to become a Cypriot resident is available by investment.

First, investment allows foreigners to obtain permanent residency, bypassing temporary residency. Second, it offers a straightforward path and does not require a job or university enrollment. The foreigner must invest in the Cypriot economy by purchasing:

• residential real estate;
• commercial real estate;
• investment fund units;
• or shares of Cyprus companies.

The investment threshold is €300,000. Additional fees include a €500 application submission fee and a €210 fee for issuing permanent residence cards.

Who can obtain Cypriot permanent residence by investment?

Investor. Foreigners seeking Cyprus PR must meet the following requirements:

• have no criminal record or pending prosecution;
• have no entry bans to EU countries or the UK;
• not be under sanctions;
• prove a legal income of at least €50,000 per year;
• own or rent residential property in Cyprus if they have not invested in residential real estate;
• purchase health insurance.

Family members. The investor can add their family members to the application. This includes a spouse or partner and children under 25.

How to contact Immigrant Invest

Immigrant Invest has been assisting foreigners with residency and citizenship by investment since 2006. Our immigration law experts provide full support throughout the application process, and as a result, 99% of our clients successfully obtain their desired status.

Contact Immigrant Invest to take the first steps toward your permanent residence in Cyprus:

• Igor Buglo
• +356 2033 0178
• digital@immigrantinvest.com
• IMIN MALTA LIMITED
• 8/2, Portomaso Business Tower, 1, Church street, St. Julians STJ 4011, Malta