Cyprus – citizenship by investment – Frequently Asked Questions

QUESTION: Cyprus is a full member of the EU, so will have the freedom to work, travel, study and live anywhere within the EU. However, Cyprus is not part of the Schengen Area. So, what kind of restrictions would that pose?

ANSWER:

The rights to work, travel, study and live anywhere within the EU are provided to the European citizens. Therefore, an individual who holds a Cypriot passport (as Cyprus is an EU country) can enjoy these rights.

A Cypriot Residency Permit provide the holder the right to live in Cyprus (and not anywhere else in the EU). Also, the Cypriot residency permit does not come with the right to work in Cyprus.

On the other hand, the Schengen Agreement has been signed between many countries of the EU and allows people to travel freely in the Schengen Area / pass freely across the borders of each country without passport controls. Given that Cyprus is not a member of the Schengen Area, people cannot travel from Cyprus to any other EU country which is a member of the Schengen Area without a visa (except if the traveler holds a Cypriot passport, as mentioned above).

QUESTION: If I go for the Cyprus permanent residency program, can I still become a citizen after so many years?  What is the stay requirements during the PR period then?

ANSWER: Foreign Nationals, who have completed 7 years of legal residence in Cyprus prior to the date of application are eligible to apply for citizenship.

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