The Cyprus Golden Visa Program changes approved in April 2023 have become effective.
- The dependent determination has changed to no longer include the principal applicant’s parents or parents-in-law.
- The principal applicant’s minimum income requirement has increased from €30,000 to €50,000.
- Applicants must annually prove that they are earning the minimum income requirement based on family size.
- Investors must also prove they have not divested from their initial €300,000 minimum investment asset.
Golden visa holders who cannot meet the above criteria will have their immigration permit and their family’s permit canceled.
Erickson Immigration Group will continue to share updates as more news is available. If you have questions about anything we’re reporting or case-specific questions, please contact your employer or EIG attorney.