Cyprus to tighten golden visa scheme before Schengen entry

Cyprus is preparing to tighten its “golden visa” programme ahead of its planned entry into the Schengen area, Deputy Migration Minister Nicholas Ioannides told the House audit committee on Thursday, as reported by the Cyprus Mail.

Ioannides said around 1,500 golden visas had been issued over the past two years, while roughly 12,000 permits granted since 2013 are being reviewed to establish whether their holders still meet the programme’s requirements. He said decisions on tightening the scheme are expected, noting that Schengen accession would make Cyprus a more attractive destination, and that he had already submitted proposals to other ministers involved.

Among the questions under examination is where investments made through the programme should be directed, including whether funds could also be channelled towards education, defence and innovation. “We need investment,” Ioannides said, but added that it had to take place “in a controlled manner”.

The issue was also raised by MP Odysseas Michaelides, who said the programme remained in operation and argued that it was contributing to pressure on the housing market. The committee was examining a special Audit Office report on migration management, covering shortcomings in the monitoring of third-country nationals as well as asylum applications, returns and the Green Line.

Ioannides announced that a new information system is being developed to track third-country nationals from the point they enter the Republic until their departure. The move follows Audit Office findings covering 2021 to 2023, according to which around 290,000 third-country nationals who had legally entered Cyprus appeared in records without a corresponding departure being registered. Ioannides said the situation had since changed, with information systems being linked to those of other ministries and the new system expected to be installed in March. He noted that the absence of a recorded departure did not necessarily mean a person remained illegally in Cyprus, citing departures through non-government-controlled points, residence permits or travel on a different passport.

Migration services are also being digitised. In the first phase, people will be able to renew residence permits online in five categories, track applications electronically and receive an SMS once the process is completed.

On asylum, Ioannides said pending applications had fallen from around 24,000 when the deputy ministry was established to fewer than 12,500. More than 6,100 applications involving Syrians have been withdrawn or revoked since December 2024, while around 5,500 people have returned. The approval rate for asylum applications currently stands at between 15 and 20 per cent.

The Green Line also featured prominently, with committee chairman Zacharias Koulias saying the situation in Pyla was “not good” and raising concerns over gaps in checks, including at marinas. Assistant police chief Michalis Katsounotos said daily patrols are carried out in the areas concerned. Ioannides stressed that Cyprus does not apply a migration procedure at the Green Line, although specific checks are carried out, adding: “We will never accept it becoming a hard border.”

The deputy minister pointed to a sharp reduction in the cost of migration-related benefits, saying expenditure stood at €15 million at the beginning of 2026, compared with €49 million when the deputy ministry took over responsibility for migration. A significant part of migration management costs is covered by European funding, with the Pournara reception centre upgraded entirely with EU funds, Limnes receiving 85 per cent EU funding and returns funded at a rate of between 80 and 85 per cent.

Turning to legal migration, Ioannides said Cyprus needs workers in construction and the hotel industry, as well as nurses. Bilateral agreements have been concluded with Egypt and India for more targeted recruitment, while around 200,000 valid residence permits for third-country nationals are currently in force. The number of unaccompanied minors has fallen from around 1,100 when the deputy ministry was established to 130 today.

Speaking after the committee meeting, Ioannides said irregular arrivals during the first eight months of 2026 were down 92 per cent compared with the corresponding period of 2022, while new asylum applications had fallen by 93 per cent. Almost 7,000 third-country nationals have been returned since the beginning of the year and around 40,000 since 2023, he said, adding that Cyprus could now both participate in and organise joint European return operations with Frontex.